Do I need to pay the estate agent a fee?

clairecymru

The sale of my property recently fell through because the person buying my place could not get a mortgage. I rang the estate agents of the property I am buying to let them know of the situation.

They rang back to say that the father of the person I am buying off is a property developer and he may be interested in purchasing my property. They then gave me his name and number and said that I could do what I wanted with it.

My question is this, will the estate agent of the person I am buying off expect a fee, even though they are not selling my property or should I be giving the name and number to my estate agent or can I just ring him and possibly arrange the sale myself.

I have never done this before, so I have no idea of what to do.

evoke

Just ask them. It sounds like they're going to let you do all the work and then claim their fee. Never, ever trust an estate agent (or a landlord, or a profesional tenant...LOL).

clairecymru

Should they have discussed their fee with me before they gave me this blokes number? Can they charge me a fee when they do not have any offices in the area in which I live?

harz99

clairecymru wrote: »

Should they have discussed their fee with me before they gave me this blokes number? Can they charge me a fee when they do not have any offices in the area in which I live?

Do you have a formal signed contract with the EA concerned?

Do you have a verbal or implied contract with them by virtue of any discussion re fees between you and the EA, which they may have recorded?

If the answer is no in both cases it would be difficult to see how they can enforce any charges they may try to make. Perhaps one of the legal experts on these forums could give an informed view.

I know we all mistrust EAs, but they may simply be trying to avoid losing your vendor's sale by making this suggestion.

fred7777

If you have not signed an agreement regarding your property with the estate agent you are buying from then they are not in a position to charge fees on your sale even though they may have helped in making that sale.

It sounds to me like they are just concerned about getting the sale done (and getting their fees on the property you are buying).

However you may have to pay fees to any estate agent you have an agreement with regarding the property you are selling, depending on what the terms of that agreement are.

clairecymru

If it turns out that neither estate agent is entitled to a fee, what do I do next? Do I just give this bloke my solicitors details and he give me his?

MegaMiniMouse

I think you first need to find out what this property developer is offering to pay for your property.

Ask him to send you a written offer to buy, with full details of how he can finance the purchase (that is what Estate Agents are supposed to do, but in this case you are working for yourself)

It seems a coincidence that this developer is so close to your 'chain'.

Make sure that he is not just a sell-your-property-quick merchant

MMM

JQ.

MegaMiniMouse wrote: »

I think you first need to find out what this property developer is offering to pay for your property.

And whatever price you agree, don't be surprised by a last minute chip in the price. Developers are not emotionally attached to purchases and will quite happily drop the offer the day of exchange.

Tread carefully.