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Private sale vs estate agent sale
ma_ya
Posts: 6 Forumite
Hi there
Unfortunately, I'm in a contract with an estate agent to sell my flat, and still have 9 weeks of the contract remaining. I've been approached by a private buyer who is interested in buying my flat, but I'm not sure what the legal situation is in terms of this. I've read the estate agent contract and I couldn't really understand whether I would be liable for penalties etc if I were to enter into talks with my private buyer or whether I do have the right to do this.
Any thoughts about this? Also, would you use the fact that there is a private buyer interested to motivate estate agents to obtain the kind of price I'm interested in, or is it best to keep quiet about this, and see whether they can sell my flat in 9 weeks to the amount I'm looking for and if not, then to pursue the private buy (if he is still interested at that time, of course)?
Any help appreciated.
Unfortunately, I'm in a contract with an estate agent to sell my flat, and still have 9 weeks of the contract remaining. I've been approached by a private buyer who is interested in buying my flat, but I'm not sure what the legal situation is in terms of this. I've read the estate agent contract and I couldn't really understand whether I would be liable for penalties etc if I were to enter into talks with my private buyer or whether I do have the right to do this.
Any thoughts about this? Also, would you use the fact that there is a private buyer interested to motivate estate agents to obtain the kind of price I'm interested in, or is it best to keep quiet about this, and see whether they can sell my flat in 9 weeks to the amount I'm looking for and if not, then to pursue the private buy (if he is still interested at that time, of course)?
Any help appreciated.
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Comments
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What is the wording on your contract? Is it a sole agency agreement or does it allow the agent sole selling rights?
Where did you find this private buyer? Have they had any contact with the agent at all - not just about your property?Everything that is supposed to be in heaven is already here on earth.
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Wait til your contract with the EA has expired. Then find out if your buyer is still interested and the price they are willing to pay.0
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So am I right in thinking then that a sole agency agreement allows you to make a private sale and sole selling rights doesn't - during your tie in period?0
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I have done this..i sold my house privately by putting an ad up at work! i was with big EA but i sold to this buyer with no fees all up front and legit. If this buyer was attracted by your For Sale sign,then came to you,then EA can say they supplied him,so advice is to put a small ad in local paper or notice board at work,and say he found you like that.
i also had an EA send me a young unmarried couple,they gave his name when they made viewing booking, we agreed to sell without EA fee so i could lower price for them, and i told EA to take house off market because i had sold to a young lady that they had no name track of!
there is always a way!TO FINISH LAST, FIRST YOU HAVE TO FINISH....0 -
Thanks for reply0
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