Seller pull out - Estate agents fees.

phil_51

If an Estate agent finds a buyer and the Seller accepts the offer.

If the Seller then pulls out and withdraws the house from the market is it common for the seller to still have to pay the Estate agents fees e.g 1.5% of sale even though the sale never went through?

It this common for Estate agent to put this is the small print?

thanks.

googler

What does the small print of your contract say?

phil_51

Not seen it yet, it is my mother selling her house. she thinks she will. All being well she will never have to pull out once she gets a buyer, but you never know.

sonastin

I think its fairly common. The estate agents have done all the work that they would usually get paid for so in theory they have earnt their commission (as much as we hate to admit it sometimes!) Its not, ahem, "fair" (again, not a word we like to use when talking about EAs!) for you to then change your mind and withdraw so you are then required to pay.

I can't remember the exact wording of the clauses I've seen but its along the lines of "if they find a proceedable buyer who'll pay the right price and then you decide not to proceed" sort of thing.

I guess the answer is if you are wavering a bit about whether to sell, and then a buyer comes along - don't accept their offer until you've decided one way or the other!

Blacksheep1979

easy way out is to tell the buyer they have to exchange in the next 48hrs - the buyer then pulls out/isn't acceptable.

dubsey

It's been said already but you need to check your contract. Our agency don't, we only get paid once you've exchanged, but I know some of the cheap agents in our town will charge regardless. A bit stable door, bolted horse, I know, but you should always thoroughly check anything before you sign it.

muskoka

dubsey wrote: »

It's been said already but you need to check your contract. Our agency don't, we only get paid once you've exchanged, but I know some of the cheap agents in our town will charge regardless. A bit stable door, bolted horse, I know, but you should always thoroughly check anything before you sign it.

I've seen this in an Estate Agents contract before. I asked them to remove it & sign it off & they did. Worth a try?

Evilm

It does depend on the agency, It sounds like its too late now but its obviously the sort of thing you should look for before agreeing to the contract.

Perhaps you can try to sweet talk them into dropping the charges or agreeing a lower fee, good luck.

phil_51

It is not too late yet as I have to sign the contract as well. (house in a trust fund)

I should get paper work today.

I just wondered if it was common practice or not. I can understand why the EA put it in!

Hope it will not happen but you never can be too safe.

phil_51

A purchaser is a 'ready, willing and able' purchaser if they are prepared and able to exchange unconditional contracts for the purchase of your property. You would be liable to pay remuneration to us, in addition to any other costs or charges, if such a purchaser is introduced by us in accordance with your instructions. This must be paid even if you subsequently withdraw and unconditional contracts for sale are not exchanged irrespective of your reasons.

phil_51

phil_51 wrote: »

A purchaser is a 'ready, willing and able' purchaser if they are prepared and able to exchange unconditional contracts for the purchase of your property. You would be liable to pay remuneration to us, in addition to any other costs or charges, if such a purchaser is introduced by us in accordance with your instructions. This must be paid even if you subsequently withdraw and unconditional contracts for sale are not exchanged irrespective of your reasons.

Any advice on the above, is this pretty standard?

thanks