To those selling in these difficult times Part Deux. AKA sellers support network!

pipsylou

Hi im new to this site, i am selling and buying at the mo and am stressing i have no money left to pay the estate agent fees and cant get any money,
What can i do???????
Please Help?

Davesnave

pipsylou wrote: »

Hi im new to this site, i am selling and buying at the mo and am stressing i have no money left to pay the estate agent fees and cant get any money,
What can i do???????
Please Help?

You pay them out of the sale proceeds. In most areas of this country you don't pay up-front; it's no sale, no fee. There are exceptions, but that's the norm.

What does your contract with them say about payment?

pipsylou

Hi yes but i do not have enough money left to pay them, my solicitor said when i told her that i should tell them after and offer to pay in instalments????????????

We are exchanging poss this week and i am stressed out so much

pawpurrs

I Geek, can your buyers not explain the situation to their LL or letting agent and go on a perodic tenancy rather than sign for another six mths? Thats what normally happens?
Welcome Pipsy, dont quite understand your predicement, surely you knew you had solcieters fees to pay? Can you not find the money somewhere?

pipsylou

Hi yes i did but my mortgage wouldnt give me as much (went through it then they put the amount down at last minute) so have to pay solicitor and estate agent myself, just worried what the estate agent will do, prob can pay half but got to put it on credit card, (dont shoot me)

Milliewilly

pipsylou wrote: »

Hi yes i did but my mortgage wouldnt give me as much (went through it then they put the amount down at last minute) so have to pay solicitor and estate agent myself, just worried what the estate agent will do, prob can pay half but got to put it on credit card, (dont shoot me)

Why was the mortgage adjusted down at the last minute leaving you short? Do you mean the valuation was lower than you offer price and you have made up the difference leaving you short?

The EA may charge a fee if you pay by credit card, you need to speak to them as they will be expecting payment by the normal route i.e from your solicitor from the balance of funds on completion.

Davesnave

Yes, I wouldn't leave it till after the sale to tell the agent. The fact that you can pay some of the money will help, but if you go for instalments and they agree, there will be interest to pay. It might work out cheaper than a credit card advance though!

Don't stress, they will still want the sale to go through.;)

pipsylou

we went for 5k more using all our benifits tax credits and child benifit, then they wanted more proof which we couldnt give so they lowered it by 5k which was to pay fees, and i am moving from flat to house and using every penny of profit otherwise wouldnt be able to do it and need to as children sharing a room and can afford a 3 bed house now but not if prices go up again so really had to do it now. Just worried what estate agent will say.

Hopejack

Last time I sold a house we were invoiced by the estate agents after the house had sold?? Is this not the norm now then? I'm obviously being dim but I've never heard of estate agents being paid out of a sale proceed??

Pipsy - now you have your mortgage offer can you not take out a 0% credit card for 6 months or something and stick it on that (if you can get them to invoice you). As someone said you may be charged a fee by them. What a nightmare!

I-geek - sounds like you've done everything you can tbh - I think sometimes you get to that point tbh - I know my Mum (who accepted an offer on her place in July and is still waiting and she has a cash buyer - won't go into it but it's taking forever!), has got to the point where she just wants it sorted or put back on the market as effectively it's been 'sale agreed' since 10 days after putting it on the market back in July so no-one else has been able to view it!

pawpurrs

sstc since july to a cash buyer? What the heck is the hold up? I went SSTC in july and moved in August and that wasnt a cash buyer, I offered last week and should have completed in two weeks time! I would definelty be remarkerting.......