EA Dropped price without consulting me!

Jorgan_2

Is the EA aware of the situation you and your ex are in? When dealing with divorce/seperation sales we will only accept joint instructions on price reductions, in writing from both parties, which we then follow up with letters of confirmation, to avoid this type of situation.

In theory your ex can accept an any offer, but without you accepting the offer as well any sale will stall when the solicitors are involved.

Speak to your EA and make sure they are fully aware of the reason for the property being sold. Tell them that they have to speak/write to you regarding any requests to reduce the property by your ex and can not act on her instructions alone.

LittleWonder_2

Thank you for your much clearer post, Silver Car. I wan't neccessarily being critical of your response...

I like to think I'm a decent sort of person and have tried to develop a good relationship with the agent and put on a super-smiley face in the face of adversity! I think this is why I was so ruffled by them not phoning me about the price revision as I have been super-accomodating up to this point.

Following your advice, I will keep a careful eye on my EA and check that they are acting in BOTH of our best interests...

ad44downey

LittleWonder wrote: »

I jointly own a property and we are trying to sell at the moment - not a happy situation. Ex instructed the EA to drop the price by £5k and they did it without consulting me.

They have been told that me and the ex aren't working on this together - where do I stand with making a complaint? We are exclusive with them for 8 weeks - have they breached their contract? They never phone me with details and have dropped the price after less than 3 weeks on the market, just because the ex has put an offer on another property and wants to shift it!

Do I have to accept what any Tom, !!!!!! or Harry offers just because she will? It is a 50/50 owned property.

Any words of wisdom will be gratefully received!

Phone the EA first thing on Monday morning.Tell him you want to knock another 20% off the asking price. Then, if you're very, very lucky, you might find someone willing to buy your property

pinkshoes

LittleWonder wrote: »

can the EA get away with acting against their client's request and do I have to sell at the price that she solely agrees on. For all I know she could be selling the house to a friend and making cash on the sly!

The EA has no doubt got 100s of houses on their book which are struggling to sell, with people phoning daily wanting to know if anyone has shown interest. The last thing they probably want is a couple who once loved each other enough to buy a house together, but now can't even communicate.

I'd leave the EA out of this, and speak to your ex. Perhaps she'll agree that YOU handle the sale of the house, and you'll keep her posted? At the end of the day, you BOTH need to agree to the sale, so if a ridiculously low offer comes along and you don't want to accept it, then say so.

Sometimes it's better in these situations just to cut your loses, move on, and start again.

LittleWonder_2

I find the saying 'cut your losses' a little shortsighted. Answer me this - I 'cut my losses' and sell for whatever my ex wants to accept, ending up in 10k + of negative equity - what do I do then? How do I 'move on and start again'?

Any more neat, sweeping catchphrases that actually make no real sense?

LittleWonder_2

ad44downey wrote: »

Phone the EA first thing on Monday morning.Tell him you want to knock another 20% off the asking price. Then, if you're very, very lucky, you might find someone willing to buy your property

Why on earth are you bothering to post your 'advice' on here? Do you think you are the only person who watches the news and knows how bad the current financial climate is?

Gorgeous_George

LittleWonder wrote: »

I find the saying 'cut your losses' a little shortsighted. Answer me this - I 'cut my losses' and sell for whatever my ex wants to accept, ending up in 10k + of negative equity - what do I do then? How do I 'move on and start again'?

Any more neat, sweeping catchphrases that actually make no real sense?

You get the unhelpful posts as well as the useful posts. It's your job to weed out the best advice.

If selling now at the ex's suggested price leaves you in negative equity, selling next year will probably leave you in more negative equity.

You don't have to sell. So long as the mortgage is paid, you won't be evicted and your ex will need a court order to force a sale. Stop paying the mortgage and the house will be repossessed and your losses could be much larger.

I recommend that you seek professional legal advice and I wish you well at what can be a very stressful time. Remember, your happiness is the best revenge.

GG

Sonofa

ad44downey wrote: »

Phone the EA first thing on Monday morning.Tell him you want to knock another 20% off the asking price. Then, if you're very, very lucky, you might find someone willing to buy your property

Wow! That was useful....

pinkshoes

LittleWonder wrote: »

I find the saying 'cut your losses' a little shortsighted. Answer me this - I 'cut my losses' and sell for whatever my ex wants to accept, ending up in 10k + of negative equity - what do I do then? How do I 'move on and start again'?

Any more neat, sweeping catchphrases that actually make no real sense?

It depends what you want in life, as it makes perfect sense to me.

Which is worse? £10k of negative equity and free from your ex with the potential of being happy again, or potentially even more negative equity and still tied to your ex for the foreseeable future, whilst watching her not struggle for money?

Why bother posting on a forum if you're only wanting people to tell you what you want to hear?

LittleWonder_2

pinkshoes wrote: »

It depends what you want in life, as it makes perfect sense to me.

Which is worse? £10k of negative equity and free from your ex with the potential of being happy again, or potentially even more negative equity and still tied to your ex for the foreseeable future, whilst watching her not struggle for money?

Why bother posting on a forum if you're only wanting people to tell you what you want to hear?

Again you are missing the point. My problem with your neat little comment was how on earth do you actually cope with 10k, 20k, 30k of negative equity? How does a normal person with a low earning job, who is scraping by as it is, deal with that without having to resort to bankrupcy? Nobody simply 'moves on' with that kind of debt.

As for only wanting people to tell me what I want to hear, nobody is hearing what they want to hear in the current financial climate. All I wanted was practical advice, not some sub-Jeremy Kyle musings about the nature of relationships. I agree that happiness is the most important thing in the world, but I don't know anyone in the world who would welcome that sort of debt with open arms and without seeking advice from others who have perhaps already weathered the storm.

If you can't dispense any advise better than 'happiness is good', then don't post on financial advice forums. I know that I won't be returning to this site because some posters just want to make sweeping and frequently personal judgements about people and their relationships, not the financial problems that they actually need advice for.