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Example 5

I asked an estate agent to find a three bedroom house for me in London. I had some very particular requirements which I described in detail to the agent. The agent agreed to research the market and identify a suitable property or properties for a finder鈥檚 fee of 拢3,000.

The estate agent found me a house and my offer of 拢499,950 was accepted.

In this case the finder鈥檚 fee is charged under a separate contract with the agent and its payment is not linked to any particular purchase. The fee was given for the service of identifying a suitable property and payment was not a contractual condition of the actual purchase.

The chargeable consideration given for the property is the purchase price of 拢499,950