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Decided not to sell
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What is the agreed figure on the memo of sale? And is it subject to anything on your side or the other side?
Oh and what waas the asking price that you had the offer of £300,000?
The agreed figure on the memo of sale is £300,000. The asking price was £330,000. The valuation came in at £270,000. And at present they buyer has offered £290,000, which we have refused, but we think he will go back up to £300,000. I don't think it said subject to anything - OH just looking out the paperwork!!!Forever I will sail towards the horizon with you0 -
I guess after reading this forum I get paranoid, on behalf of others, NOT getting stuffed by EA's. You should be OK but get reading to make sure - fingers crossed and getting PC now before my wife tells me off:eek: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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the memorandum of sale is nothing more than a notification of acceptance of an offer. it is not a legally binding document0
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Just looking through your posts again I doubt you would owe anything unless a nominal withdrawel fee. Especially as your buyer has offered less than agreed on the memo of sale. But what if your buyer offers the full £300,000 you had agreed to - it could make a subtle difference?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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the memorandum of sale is nothing more than a notification of acceptance of an offer. it is not a legally binding document
No not legally binding but according to our contract law specialist solicitor it is the point at which some obligations kick in with Ea's terms.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 -
Just looking through your posts again I doubt you would owe anything unless a nominal withdrawel fee. Especially as your buyer has offered less than agreed on the memo of sale. But what if your buyer offers the full £300,000 you had agreed to - it could make a subtle difference?
They won't do that until the middle of next week when they come around again with a friend! Perhaps we should pull out now?Forever I will sail towards the horizon with you0 -
They won't do that until the middle of next week when they come around again with a friend! Perhaps we should pull out now?
You could just ask the EA if you owe anything as you have lost the will to sell. If it happened to us and we liked the people they would have got off but if they had been rude I would of taken a tougher stance.
Do let us know how you get on?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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