Do we have to except?

Sammy3008

PasturesNew wrote: »

Ah, so you don't want to sell.

Point out all the bad things about the house when they come to view. Tell them you're moving because of some reason they wouldn't want to hear.
Just answer all questions as if you'd be a nightmare to deal with and the house is a pig in a poke.

And then, don't accept anything except the full asking price... they won't offer that anyway.

Lol, that's what my DH has said.
We 'really' don't live in the best of area's anyway, which to be honest at the beginning was the reason we wanted out!! (We've been on the market for 7 months all in all, and this will be the 3rd viewing) Obviously when we first put the property on the market, we wasn't in such a 'big' financial mess as we now are, so now it would be a massive struggle to find the Fees to estate agent, solicitors fee's, and rental deposits etc.

amandajp_2

Sammy3008 wrote: »

So even though we have a 12 week contract, and we're in the remaining last 3 weeks I believe, we could still take the house off the market with the estate agent now?

This is correct to the best of my knowledge (certainly true of the 5 contracts I have had with estate agents to date), but do check your contract, or give your Estate Agent a call and ask.

Amanda

chickmug

If you take your house off the market, before the end of the agreed period, the EA may have a fee for this so check the terms.

The devious way round stopping interest (which used to really wind me up as I thought it was very unfair) is to ask for the price to be increased well over the market rate.

If you have full priced offer check the terms as some EAs will have a clause saying full, or most of the commission, becomes payable.

Sammy3008

chickmug wrote: »

If you take your house off the market, before the end of the agreed period, the EA may have a fee for this so check the terms.

The devious way round stopping interest (which used to really wind me up as I thought it was very unfair) is to ask for the price to be increased well over the market rate.

If you have full priced offer check the terms as some EAs will have a clause saying full, or most of the commission, becomes payable.

Our EA is Frank Innes. Plus just looked in the folder I have all the documents from with FI, and haven't got a contract.
All I've got is a Marketing Report, Sales particulars, which states its on a 'No sale - No fee basis'?

chickmug

Here is the relevant NAEA Code of Practise view on it. BUT are you really sure you have never had a copy of the terms? Email them and ask them to email you a copy. They should do this very quickly but I guess may wonder why you want it?

2. Instructions

a) By law you must give your client written confirmation of his (see 10 below) instructions to act in the buying or selling of properties on his behalf. You must give the client written details of your fees and expenses and of your business terms. You must give the client these details before he is committed or has any liability towards you. If appropriate, you must notify your client in writing if you or an ‘associate’ (see 8 a) below) or ‘connected person’ (see 10 d) below) wish to offer estate agency, surveying, investment, insurance or other services to people proposing to buy your client’s property through you.

Sammy3008

chickmug wrote: »

Here is the relevant NAEA Code of Practise view on it. BUT are you really sure you have never had a copy of the terms? Email them and ask them to email you a copy. They should do this very quickly but I guess may wonder why you want it?

2. Instructions
a) By law you must give your client written confirmation of his (see 10 below) instructions to act in the buying or selling of properties on his behalf. You must give the client written details of your fees and expenses and of your business terms. You must give the client these details before he is committed or has any liability towards you. If appropriate, you must notify your client in writing if you or an ‘associate’ (see 8 a) below) or ‘connected person’ (see 10 d) below) wish to offer estate agency, surveying, investment, insurance or other services to people proposing to buy your client’s property through you.

Haven't got the copy of the terms within the paperwork from FI, and just had a look around the house, to see if I've left any loose paperwork from them, but can't find anything.
Not quite sure what excuse I'd use if I email or rang the EA?
I'm wondering, because my DH hasn't even shown them his ID as yet (They did send us a letter 3 weeks ago, asking for ID to be shown and we've just not got round to it since) could this be why we haven't got the Terms?

chickmug

Sammy3008 wrote: »

Haven't got the copy of the terms within the paperwork from FI, and just had a look around the house, to see if I've left any loose paperwork from them, but can't find anything.
Not quite sure what excuse I'd use if I email or rang the EA?
I'm wondering, because my DH hasn't even shown them his ID as yet (They did send us a letter 3 weeks ago, asking for ID to be shown and we've just not got round to it since) could this be why we haven't got the Terms?

This part of your earlier post suggest you have been with the EA for 9 weeks: -
So even though we have a 12 week contract, and we're in the remaining last 3 weeks I believe, we could still take the house off the market with the estate agent now?

This bit copied from ML guidelines and so I am very surprised if the EA has been acting as they are falling foul of the rules?

"As a firm, you should have procedures in place to identify clients before entering into a business relationship or performing any transaction for them. If you are unable to perform client due diligence to your satisfaction, you should not do business with the client and therefore consider making a Suspicious Activity Report".

In order to perform client due diligence, you should:
1. identify the client
2. identify the beneficial owner of the assets
3. determine the purpose and nature of the business relationship
4. conduct ongoing monitoring of the business relationship to ensure that transactions are reasonable, and do not attract suspicion
5. maintain records of your checks.

pawpurrs

Theres no point accepting viewings if you are not going to sell, just explain that to the Agent, I am sure they will be understanding. Better than wasting the viewers time and effort.
Its pretty pointless keeping some one to a contract if they have decided to stay put. If they get difficult, just cancel the viewing and dont take any viewings between now and the contract ending. Simples:p

Sammy3008

chickmug wrote: »

This part of your earlier post suggest you have been with the EA for 9 weeks: -
So even though we have a 12 week contract, and we're in the remaining last 3 weeks I believe, we could still take the house off the market with the estate agent now?

This bit copied from ML guidelines and so I am very surprised if the EA has been acting as they are falling foul of the rules?

"As a firm, you should have procedures in place to identify clients before entering into a business relationship or performing any transaction for them. If you are unable to perform client due diligence to your satisfaction, you should not do business with the client and therefore consider making a Suspicious Activity Report".

In order to perform client due diligence, you should:
1. identify the client
2. identify the beneficial owner of the assets
3. determine the purpose and nature of the business relationship
4. conduct ongoing monitoring of the business relationship to ensure that transactions are reasonable, and do not attract suspicion
5. maintain records of your checks.

What can be done about this? Have we got a right to turn anything down, because the EA hasn't followed the correct procedures?

chickmug

Sammy3008 wrote: »

What can be done about this? Have we got a right to turn anything down, because the EA hasn't followed the correct procedures?

When I ran my firm we complied with the rules.

So you could start at the NAEA
http://www.naea.co.uk/contact/default.aspx

Or Consumer Direct
http://www.consumerdirect.gov.uk/

If you want to really get at the EA complain to the Serious Crimes folks and say the EA is not checking you out properly.
http://www.soca.gov.uk/contactUs/index.html