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Sales Contract Cooling Off period?
hashmaniac
Posts: 2 Newbie
Yesterday I signed a sales contract with a business agent to sell my pub. Today I have found somebody who wants to operate it for me. Is there a cooling off period in which I can cancel the contract. The agants have not done any work under the contract as yet.
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hashmaniac wrote: »Yesterday I signed a sales contract with a business agent to sell my pub. Today I have found somebody who wants to operate it for me. Is there a cooling off period in which I can cancel the contract. The agants have not done any work under the contract as yet.
Under the Cancellation of Contracts made in a Consumers Home or place of Work regulations you have a statutory 7 day cooling off period......they should have made you aware of this when signing the contract.
To cancel the contract you need to give notice, in writing, no more than 7 days later than the date you signed.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
whilst I concur - this only applies if the contract was signed in you home/pub, if you went into the office and signed then it is enforcable!0
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Cancellation rights only apply to consumer contracts, methinx. Selling a pub is outwith 'consumer' ....Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Sounds like a business contract, so no cooling-off period applies."You were only supposed to blow the bl**dy doors off!!"0
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It applies to Estate Agency contracts to sell houses so I don't see why it would differ because it's a pub.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0
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Unfortunately unless the rules have changed again and I am too rusty (eeek) Business to Business agency has a lot of similarities but also has certain differences. So on this one, as far as I know, B2B doesn't have the 'coooling off' period as it is ALL in the contract.
If the OP would like to let us know the business agent or PM me I can perhaps advise further as I still have a small active interst in business selling.
However I would issue the warning that many business agents make ALL estate agents look like angels. Many, as soon as they have a signature, will NOT let you off so it is a case of which agent and the best way to limit the financial damage.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 -
If there is no colling off period then surely you can just reject any offers they bring to you and cancel the contract when their tie in is over?0
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The contract's with Christies - I hope they're reputable...0
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hashmaniac wrote: »Yesterday I signed a sales contract with a business agent to sell my pub. Today I have found somebody who wants to operate it for me. Is there a cooling off period in which I can cancel the contract. The agants have not done any work under the contract as yet.
Are you for real just exactly what work did you expect them to do within 1 day.0 -
Just take the pub off the market, and tell the agent you have done so."You were only supposed to blow the bl**dy doors off!!"0
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