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Estate agent contract- HELP PLEASE!
swcole
Posts: 1 Newbie
I was hoping someone with some legal knowledge may be able to help me.
I am selling my flat and am about to sign a contract with an estate agent. The contract is 'Sole Agency' for a period of 6 weeks. The problem comes in the fact that a neighbour who I told about my plans to sell has shown interest in buying the flat. This interest is still in very early stages and hence I would still like to get the flat on the market with an estate agent. If I do manage to sell to this neighbour would I still be liable to pay a fee to the agent?
I have read through the terms and conditions with regards to this 'Sole Agency' agreement and there is nothing to suggest that a fee would be due. All conditions refer to introductions by estate agents and not by the vendor.
Any help or advice would be appreciated.
Cheers
I am selling my flat and am about to sign a contract with an estate agent. The contract is 'Sole Agency' for a period of 6 weeks. The problem comes in the fact that a neighbour who I told about my plans to sell has shown interest in buying the flat. This interest is still in very early stages and hence I would still like to get the flat on the market with an estate agent. If I do manage to sell to this neighbour would I still be liable to pay a fee to the agent?
I have read through the terms and conditions with regards to this 'Sole Agency' agreement and there is nothing to suggest that a fee would be due. All conditions refer to introductions by estate agents and not by the vendor.
Any help or advice would be appreciated.
Cheers
0
Comments
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As you have not signed the contract, get it amended to say if you sell to Mr Neighbour no fee will be due. If you sign unamened the EA could claim that his sign/marketing made the neighbour aware of the property.
Check how long the contract is for as well.0 -
I was hoping someone with some legal knowledge may be able to help me.
I am selling my flat and am about to sign a contract with an estate agent. The contract is 'Sole Agency' for a period of 6 weeks. The problem comes in the fact that a neighbour who I told about my plans to sell has shown interest in buying the flat. This interest is still in very early stages and hence I would still like to get the flat on the market with an estate agent. If I do manage to sell to this neighbour would I still be liable to pay a fee to the agent?
I have read through the terms and conditions with regards to this 'Sole Agency' agreement and there is nothing to suggest that a fee would be due. All conditions refer to introductions by estate agents and not by the vendor.
Any help or advice would be appreciated.
Cheers
Sole agency means just that - NO other agent.
Sole Selling Rights means whoever sells, even you if sell, you owe the agent commission.
If you want to get on with the agent why not ask then to note on the contract if your neighbour buys you owe them no commission? I used to get this quite often and was happy to agree. Many sellers asked me to see through even on a private sale for a reduced fee.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
Sole agency means just that - NO other agent.
Sole Selling Rights means whoever sells, even you if sell, you owe the agent commission.
If you want to get on with the agent why not ask then to note on the contract if your neighbour buys you owe them no commission? I used to get this quite often and was happy to agree. Many sellers asked me to see through even on a private sale for a reduced fee.
I agree that is the answer.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
Richard_Webster wrote: »I agree that is the answer.
Careful now as I am a retired agent. The agents and solicitors may get accused of colluding:DA retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
Why not strike an agreement with your EA such that they go ahead and market it, but if you sell it to your friendly neighbour, you won't pay them their full fee, but will still pay them something for their time & trouble?
Assuming you want to start and part with them on good terms, of course.0
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