Petchey Leisure Timeshare Resales

Terms & Conditions

Purchase Agreement / Contract of Sale

1. COMPLETION OF SALE / PURCHASE
   
   1. The purchase monies shall be paid by the Purchaser on the Due Date in accordance with the instructions overleaf;
   2. The purchase monies shall be held on trust by an independent trustee, Resort Fiduciary Services Limited, until the Broker has obtained a membership certificate in the name of the Purchaser for the use of the timeshare as specified overleaf together with all other necessary ownership documents. On receipt of such papers the Broker shall organise for those papers to be forwarded to the Purchaser and arrange for the trustee to release the purchase monies.
2. DEFAULT
   If the Purchaser fails to make any payment due within twenty-one days of being given written notice by the Broker on behalf of the Seller to that effect (time being of the essence) this Agreement shall be terminated and any money paid by the Purchaser may be forfeited.
3. ACKNOWLEDGEMENT
   
   1. this is an agreement between two private parties, the Seller not acting in the course of business and that the Broker is acting only as the agent of the Seller;
   2. timeshare membership includes an obligation to pay an annual management fee. In subsequent years of occupancy the annual management fee shall become due and payable in accordance with the constitution of the resort of which the Purchaser becomes a member and the Purchaser confirms that he understands that failure to pay such fees may put his membership at risk; the Seller and / or the Broker are not responsible for or have any control over the setting of annual management fees and furthermore have not made any representations as to the future level of such fees.
4. CANCELLATION
   This Agreement gives to the Purchaser the benefit of the protection provided by the Resort Development Organisation Code of Practice for Resales. Accordingly the Purchaser has 14 days from the date of this agreement in which to cancel this agreement with no further obligation to himself. In the event of the Purchaser wishing to cancel the Agreement within that period he must notify the Broker to that effect within 14 days of the date of this Agreement by completing the Cancellation Procedure as shown in the box below. The deposit (where taken) will appear on the Purchasers credit card statement as Resort Fiduciary Services Limited.
5. PROPER LAW
   This Agreement shall be governed by and construed in accordance with English law and the parties hereto agree to submit to the non-exclusive jurisdiction of the English courts.
6. MISCELLANEOUS
   1. Any notice relating to this agreement shall be in writing and may be served or delivered to the party to be served at the address overleaf, and notices sent by first class mail, ( Registered / recorded delivery for ownership documents and/or notice of cancellation), shall be deemed to have been delivered seventy two hours after posting and proof of due posting shall be sufficient evidence of delivery.
   2. Words importing one gender include any other gender
   3. Words importing the singular include the plural and vice versa.
   4. Clause headings shall not affect the construction of this agreement.
   5. This Agreement contains the full and complete understanding between the parties and supercedes all prior arrangements and understandings whether written or oral and may not be varied except by an instrument in writing signed by the Broker on behalf of the Seller. The Purchaser acknowledges that no representations or promises that are not expressly contained in this Agreement, have been made to him by the Seller or Broker, or any of its servants, agents, employees or representatives.
   6. The Purchaser acknowledges that should the Broker be unable to complete the transfer for whatever reason, they reserve the right to offer a suitable alternative or a full refund of all monies paid.