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What if I find buyer myself without esate agent?
hyweljones71
Posts: 26 Forumite
My house is on the market with a local estate agent. A friend of mine contacted me personally to say he was interested in looking at my house and I invited him round to view after hearing i was selling the house from a mutual work friend who live nearby.
He has shown an interest and may proceed to put in an offer in the near future.
As the estate agent has had nothing to do with this, I'd be a bit miffed at having to give them their 1.5% for nothing except accepting the offer and doing a bit of negotiating.
So can I bypass the estate agent in this case and just do a solicitor to solicitor deal?
I know there may a "take the house off the market fee" as specified in the small print, which I think is about £300. This would be a lot less than the 1.5% they want for doing no work in getting the sale I have arranged.
Any advice would be appreciated.
Thanks,
Hywel.
He has shown an interest and may proceed to put in an offer in the near future.
As the estate agent has had nothing to do with this, I'd be a bit miffed at having to give them their 1.5% for nothing except accepting the offer and doing a bit of negotiating.
So can I bypass the estate agent in this case and just do a solicitor to solicitor deal?
I know there may a "take the house off the market fee" as specified in the small print, which I think is about £300. This would be a lot less than the 1.5% they want for doing no work in getting the sale I have arranged.
Any advice would be appreciated.
Thanks,
Hywel.
0
Comments
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Is your agreement with the EA
Sole Agency Agreement
or
Sole Selling Rights AgreementMy 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 -
Not sure, can't find the agreement to hand either!
How would each differ?0 -
hyweljones71 wrote: »Not sure, can't find the agreement to hand either!
How would each differ?
If you have signed a Sole Selling Rights agreement then the EA is entitled to their fee even if you sell it privately.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 -
On the agreement it said if I use other agencies they charge more (2.5% I think). Would that mean its not the above?0
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Both would usually have a clause regarding Multi Agency and the associated extra cost.
If you can't find your contract I would call your EA tomorrow and get them to email you a copy. If you post the exact wording I can give further advice.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 -
Multi-agent agreement - most expensive. You can find your own buyer and pay EA nothing.
Sole agency agreement - cheaper but only allowed to use one agent. You can still find your own buyer and pay EA nothing.
Sole selling rights agreement - Pretty rare nowadays and a bit naughty. Only allowed to use one agent. If you find your own buyer you still pay EA their fee!
You need to read your agreement.0 -
Thanks guys, I'll look for the agreement again and will let you know.0
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