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Part Ex with an Ea?
geordiescouse
Posts: 271 Forumite
Just a quickie!
I am currently tied in with my EA for another 3 weeks and am considering P/ex with a builder. Would the EA claim they had sold my house and therefore demand payment?
I am currently tied in with my EA for another 3 weeks and am considering P/ex with a builder. Would the EA claim they had sold my house and therefore demand payment?
0
Comments
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Did the ea introduce you to the builder or property you're thinking of buying? If not then there should be no sale fee due to the ea as the sale wasn't instigated by him.
However, you do need to read the contract you signed with the ea as some do contain a clause about if you sell the house yourself, which if the ea isn't involved as above, would be your position.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
The above advice is correct - read your contract.
You may wish to ask the agent to confirm all the parties they believe they have introduced to you in writing. If they do that, makes it much easier should they come round asking for cash later on.0 -
Hi I don't believe there is a clause about me selling the house myself (or at least I can't find it!) and no the EA didn't introduce us.0
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geordiescouse wrote: »Hi I don't believe there is a clause about me selling the house myself (or at least I can't find it!) and no the EA didn't introduce us.
The key is the nature of the agreement you signed: -
'Sole Selling Rights' - whoever sells you pay the EA the fee even if you sell privately.
'Sole Agency' - you will only appoint one agent but usually it means you can sell yourself and at any point, whether after only a minute after instructing the EA or onwards.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
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