Its so unfair why wont someone help?

Heddwen_2

Yes thats exactly what I thought to!

I mean the buyer must have known that intrest rates / house prices were set to rise yet again (and even more by end of year), everyone must have some suspicions.

I just hope they dont find themselves unable to pay as intrest rates soar in a few months even more!

I am a little stuck between a rock and a hard place really as we may lose the sale if we speak out and will definately come away with nothing then. So I dont see what else we can do except accept the loss of profit.

How can I check out these suspicions without making it obvious or bringing the trail back to me?

To be honest I think we will be just as happy to be out of here and almost debt free!

AMILLIONDOLLARS

I would sign on the with two more agents. Negotiate a multiple agents fee. Don't tell them your about your predicament just say you want to a get sale and will take offers on the property. Get on the phone now and get them around. I would aim for offers at the 140/145 mark, an extra £10,000 will see you debt free and in a better position to start again. Its not over until contracts are signed, do everything you can before than. This is you only asset, DON'T GIVE IT AWAY

AMILLIONDOLLARS

Anyway if this buyers sees that they've got competition it may make them up their offer a bit. As it is they're sitting pretty at your expense.

Heddwen_2

:-[  I would in any normal situation wait until we got a decent price but as impending doom looms it feels too risky.

After all we dont want to frighten them away alltogether and be reposessed coming away with absolutely nothing do we?  :-/

If we did we would end up in a cardboard box (mind you there are some snazzy ones about - hows about one with a trendy brand name emblazoned across the side?lol! ;) )

AMILLIONDOLLARS

I have to ask, why did your agent not put forward any other viewings?

nh

It might just be worth saying to the buyer that you are going to keep the house on the market until exchange of contracts. That might push her to offer you more to take it off the market.

I know you don't want to do anything to jeopardise the sale, but you risk being a pushover and giving the house away for fear of standing up for yourself and doing what is best for you.

You are in this to get the best price for your house, quickly, and if that is this buyer offering £135k, fine, at least it leaves you with something. But a bit of tough play from you is not going to make the buyer walk away and think 'Well, it's not worth it if she is going to be like that'. It is only going to make the buyer do even more to get the house she wants.

Your buyer is not going to walk away if you tell the agent you are listing the house on another agent's books until exchange to see if you can get a better offer. You probably won't get a better offer, not from someone who can complete in six weeks anyway, but it may push your current buyer to be even quicker/offer more.

I understand you just want it 'over with' but a few phone calls now might net you £5k or even £10k, just because you buyer will get nervous if she sees you are making sure you get the best price. Your buyer will not walk away just because you are looking out for your own interests: the buyer will expect that, especially when she is paying £20k under the asking price. She could sell it for £155k as soon as she buys it, how would you feel then?

lisyloo

I have been in a situation wiht 2 agents before.
This was when I part exchanged my house with developers and THEY were paying for 2 agents.
As a business it was worth their while to pay the extra fees to get the money early.
Most individuals can't afford the extra fees.

However I have to tell you they worked very quickly because they KNEW they had competition.
With a sole agent they know they will get the commission eventually so they don't have to rush.
They were literally begging us to let them have the keys first (as we were only willing to give out one of our sets).

My advice would be to get another agent involved
The fees would be higher but on the face of it, it could be worth it in this situation.

Heddwen_2

Having followed my instincts and a little of peoples advise we have now discovered that we are tied in to the agency on a 13 week marketing contract at a fixed fee. The original rough £1,000 we were told (verbally) by the estate agent was wrong and the fixed fee is actually almost £2,500. The solicitor has quoted a guess of £600 for fees so we are now actually £4,000 short of what we need for the park home settlerment! That on top of borrowing £1,000 from mother-in-law as a non returnable deposit has stuffed us! Especially as theres £7,000 in debts as well if all is to be considered!

I sought advice from an old friend who workes in an agency but he couldnt really help only tell me I can pay a multiple agency fee if my current agents (Your Move) would allow it as we have signed their agency contract.

::) Why oh why does it always have to happen to us ??? I would ask if life can get any worse but that would be tempting fate!

We have one option of a friend of ours who is in the buying and selling world and may be interested in buying our house from us himself so we are off to see him this evening, he will offer us a good price and avoid agency fees etc. We can only hope! :-/

Heddwen_2

Having followed my instincts and a little of peoples advise we have now discovered that we are tied in to the agency on a 13 week marketing contract at a fixed fee. The original rough £1,000 we were told (verbally) by the estate agent was wrong and the fixed fee is actually almost £2,500. The solicitor has quoted a guess of £600 for fees so we are now actually £4,000 short of what we need for the park home settlerment! That on top of borrowing £1,000 from mother-in-law as a non returnable deposit has stuffed us! Especially as theres £7,000 in debts as well if all is to be considered!

I sought advice from an old friend who workes in an agency but he couldnt really help only tell me I can pay a multiple agency fee if my current agents (Your Move) would allow it as we have signed their agency contract.

::) Why oh why does it always have to happen to us ??? I would ask if life can get any worse but that would be tempting fate!

We have one option of a friend of ours who is in the buying and selling world and may be interested in buying our house from us himself so we are off to see him this evening, he will offer us a good price and avoid agency fees etc. We can only hope! :-/

alexei_2

You signed a contract with the Estate Agent. That contract specifies fees. So how can you be expecting a fee of £1000 and now it transpires that it is going to be £2500. At 1% that equates to a house value of £250,000. The Estate Agent can not change the fee in the contract. You should have bartered with the Agent to get the fee down - it sounds like you have agreed a fee of 2% plus VAT.