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Estate agent still wants fees despite collapse of move
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Someone posted a few weeks ago because there was a clause in their contract saying that if they caused the chain to collapse, they would be liable for the EA fee. I'd have a good look through the whole contract to see if there is anything like that - googling it, I can see that the clause might refer to a 'ready, willing and able purchaser'. But you might need further legal advice - I can see from the point of view of the EA, they have done all of their side of the contract, so they will be out of pocket if you change your mind.0
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The clause that is used is "ready, willing and able purchaser" which will mean that a buyer is found, then payment is due. If this wasn't in your contract (or wasn't explained) then they really shouldn't be saying this to you.
If they persist with this:
http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/SellingYourHome/DG_171890"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
I can see from the point of view of the EA, they have done all of their side of the contract, so they will be out of pocket if you change your mind.
Yes, but this is an estate agent we're talking about here. People change their minds all the time. It's par for the course in the industry."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
Hold on! Although it says payable on completion there may be another passage somewhere stating something like "commission becomes due when a proceed able buyer is found".
When they expected payment is not the same, necessarily, as when it becomes due, i.e. they earn it one day but will wait for payment when you have the funds on completion.0 -
The document I signed certainly doesnt have any reference to a "ready, willing and able purchaser" - I , too, can see it through the eyes of the EA, but contracts are contracts, and I can't see that I've broken any signed agreement here. I will put the burden of proof back onto them.0
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I would put money on there being a "ready, willing and able Purchaser" clause in the agreement.
OP, you need to post the exact wording of the whole contract, otherwise everyone if just speculating!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 -
Good idea.
Any change of blanking over the personal details and scanning a copy of the agreement in?"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
Just pay them on completion, as per contract. Yes I do realise there will not be a completion.This is an open forum, anyone can post and I just did !0
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MissMotivation wrote: »I would put money on there being a "ready, willing and able Purchaser" clause in the agreement.
OP, you need to post the exact wording of the whole contract, otherwise everyone if just speculating!
Agreed, insufficient data otherwise.....0 -
Usually a contract will say they only have to introduce you to a willing and able buyer. If the buyer pulls out then they're not willing/able. If you pull out then the buyer is still willing/able. This means that in many contracts you would still have to pay the EA fees.
You really need to go through your actual contract with a fine tooth comb and see.0
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