estate agent contracts praying on elderly

haddock22

Our neighbour whose husband has recently died wishes to sell her house to move somewhere smaller.weve just learnt she signed up with a local estate agent who gave her the top estimate way above what we think the house will sell for.in fact she had 3 quotes ranging from 320k to their estimate of 595k.She also signed their standard contract of 20 weeks and 1.95% as she was not aware she could bargain.The contract for some reason has been dated the 11 sept although she signed it yesterday.Is their a cooling off period?
What i would like to know is can she cancel this and renegociate a better deal as i feel because she is elderly she has been taken for a ride.Any help?

Gorgeous_George

Well, if they sell it for £10K more than any of the others would have achieved, she'll be laughing all the way to the bank.

I trust you are not worrying her unduly and slandering the EA.

Does she have family? If so, raise your concerns with them.

Sorry, I don't know if there's a cooling off period but I doubt it.



GG

haddock22

I think its more the point that some estate agents say a house is more than its worth to get the business and then when it doesnt sell suggest dropping the price.Ithink estate agents have thick skins and can take it.Ive recently sold my house with an internet company for £400 not the £7500 an estate agent would have charged.

_Andy_

haddock22 wrote:

Ive recently sold my house with an internet company for £400 not the £7500 an estate agent would have charged.

You sold your house for £400? And they said house prices were on the up

TJ27

My brother had a few EA's around to his house when he was selling, to get an idea of value. He also looked at how much similar houses were going for, so had a good idea in any case.

Anyway, he decided not to use an agent at all, internet or otherwise. He just stuck a simple sign up in the front window. He was in no hurry to move and did it as an experiment really, just to see if EO fees really are money for old rope. He sold for the full asking price within a week! Sale went through without a hitch.

Seems to me that it's worth a try if you're considering selling.