This Commission Charges Policy outlines the principles, responsibilities, and consequences related to the commission charges applied by Cityhomez for real estate transactions conducted on our platform. It includes measures, including potential legal recourse, to ensure fair and transparent dealings in commission-related matters.
- Commission Structure:
Cityhomez charges a commission fee for facilitating real estate transactions on our platform. The commission structure will be clearly communicated to users, including the percentage or fixed amount applicable to each transaction.
- Commission Charges on Sales:
For successful property sales facilitated through the Cityhomez, a commission fee of 5% of the final sale price will be charged. This fee will be deducted from the proceeds of the sale before disbursement to the seller.
- Commission Charges on Letting:
For successful property lettings facilitated through the Cityhomez, a commission fee of 10% of the total rental amount for the initial lease term will be charged. This fee will be deducted from the rental payment before disbursement to the property owner.
- Fee Transparency:
All applicable commission fees will be transparently disclosed to users before the initiation of a transaction. This includes clear communication of the amount or percentage and any additional fees that may apply.
- Payment Timing:
Commission fees are typically deducted from the transaction amount at the time of closing or as specified in the transaction agreement.
- Non-Payment or Underpayment:
Users are expected to comply with the agreed-upon commission fees. Failure to pay the designated commission or underpayment may result in account suspension, penalties, or legal action as outlined in this policy.
- Legal Recourse for Non-Payment:
In cases of non-payment or underpayment of commission fees, Cityhomez reserves the right to pursue legal action to recover the owed amount. This legal recourse may include filing a lawsuit seeking compensation.
- Compensation Threshold:
Individuals found guilty of violating the commission charges policy may be subject to legal action seeking compensation. The compensation sought may be up to $500,000 or 50% of the total transaction amount, whichever is greater.
- Notification and Cooperation:
Users involved in commission-related disputes will be promptly notified of our intent to pursue legal action for compensation.
Full cooperation is expected from users in any legal proceedings, including providing necessary information and documentation.
- User Agreement:
Users agree, upon signing up and using our platform, to abide by our terms and conditions, including the potential legal consequences outlined in cases of non-payment or underpayment of commission fees.
- Legal Expenses:
Individuals found guilty of violating the commission charges policy may be held responsible for legal expenses incurred by Cityhomez during the legal proceedings.
- Confidentiality:
While we take legal action to protect the interests of our users, we respect the confidentiality of the legal process and the privacy of individuals involved.
This legal recourse is intended to reinforce the importance of complying with commission payment obligations, ensuring a fair and transparent environment for all users. By using our platform, users acknowledge and accept the potential legal consequences outlined in this policy.
CITYHOMEZ