Are you allowed to...........

britmark

If i approached an estate agents and told them i was intrested in a certain property, and then the lender refused me the mortgage,and i went and got another mortgage somewhere else, would i be allowed to approach the vendors privately to sell, or is this not allowed.

Hope it makes sense.
Mark

silvercar

Even if you approached the vendor privately, the Estate Agent would still be entitled to their fee as they had introduced you. The only exception I can think of would be if a long time (years?) had passed and the price of the property was very different.

Tassotti

You can do this. The seller needs to check their contract with the estate agents though. Many contracts stipulate that if a the seller sells independently, this is okay.

If they can sell outside the contract, you may be able to negotiate a deal.

Depends on the vendor really. Some people are wary of 'stepping outside the box' Can't understand it myself. I have never used an estate agent to sell a property. I get them round to put a price on the property, and go with the lowest valuation. Properties always sell quickly, and as long as I make a profit, job done.

Good luck