I am in the middle of a move. It is proving to be a bit of a nightmare. The legal work for the purchase is coming along nicely although it hasn't even started for the sale. My solicitor has written to my buyer's solicitor to ask if they are acting on his behalf and they have yet to confirm this in writing (this has been going on for four weeks now). I am suspicious that the buyer has pulled out. My estate agent is being very unhelpful and untruthful. His solicitor has been recommended by them and they are arranging his mortgage. I spoke to them last week and they said we would be exchanging contracts this week and they tried to pressure me into moving out early. I have signed up to a sole agency with them until mid-May but if my buyer has pulled out I would like it back on the market asap preferably with another estate agent. What are the implications of going on the market with another agent? Will I end up having to pay two lots of commission?
2007-03-29 00:21:01 · 6 answers · asked by Joanna M 1 in Business & Finance ➔ Renting & Real Estate
Instruct your solicitor to advise a deadline for withdrawal of contract from them...its your property so you call the shots!, your solicitor may well have dealt with your buyers solicitor before and if this is the case they should advise you accordingly.
may be speak to your second choice agent for advice about your buyers solicitor, hopefully your buyer is not using Countrywide Property Lawyers (renowned wthin the industry for being slack and the agent gets a kickback for referring them)
I've been sales chasing for five years and have seen it all, stand your ground and don't take any rubbish from your agent...go in there 9don't phone them!!)and scream the place down, your agent is sure to listen and act.
Good luck!!
2007-03-29 10:35:32 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I assume you have already signed your Sale Contract and this is with your Solicitor.
If Contracts are Exchanged, you will have to move out.
If your buyer has dropped out you have no choice but to advise your Solicitor.
To avoid problems with the Sole Agency, check the wording on the Contract = you may be able to give Notice.
If not, avoid putting the house back on the market until end May / early June - otherwise the Agent can claim his 1.5% (or whatever) no matter who sells the house.
2007-03-29 00:35:51 · answer #2 · answered by Steve B 7 · 0⤊ 1⤋
If your current estate agent is in breach of the contract you signed with them then you can ask them to end the contract early. There has been a lot of discussion lately about how unfair the contracts are for the customer and therefore the likelihood is that they will agree to end it by mutual agreement. If they don't then it might worry them a bit a speed things up for you. If in doubt contact the CItizens advice bureau or office of fair trading.
2007-03-29 00:33:16 · answer #3 · answered by Guy 2 · 0⤊ 0⤋
Agency contracts usually stipulate minimum sole agency time period and notice periods. check your contract to see what applies. You might want to sound out your agent to the possibility of multiple agency on a 'winner takes all' basis or split the fee. Alternatively serve your notice and hae a second agent ready to take over, or advertise on a free private sellers site which wont cost you anything.
2007-03-30 03:33:16 · answer #4 · answered by David 3 · 0⤊ 0⤋
This time scale is perfectly normal , but the answer to your question is yes the original agent would have a claim on the commission !!
2007-03-29 00:26:58 · answer #5 · answered by nicemanvery 7 · 0⤊ 0⤋
The bad news is that until you end tour contract with the one, you cannot sell with the other. Try to prove what you feel the first is doing, is they aren't totally truthful this is grounds to null the contract.
2007-03-29 00:25:48 · answer #6 · answered by chillipope 7 · 0⤊ 0⤋