EA contract

charle1980

Hi everyone

I have just been reading through some past threads about EA and their contract/fee

I am confused as one thread pointed out that if the EA introduced the buyer they are entitled to their commission even if you end your contract with them and sell privatel to said buyer. I may be being dumb but how would the EA know if you did this (and was effect in breach of contract)?

I am thinking of not using my EA any longer and selling privately purely because we don't think we can afford the house at the price we've agreed and pay a huge fee :-(

However the buyer saw their sign and is happy for us to go private with him if we can. We've never signed a contract and the only verbal is with me (I don't own the house)

I know this seems very underhand (and it is) but it may be the only way we get our dream home.

Charle

maninthestreet

As you don't own the house, how can you sell it??

zipwen1

there is a thing called a ready and willing buyer contract or something like that dont know the actual name, basiclly if you have signed this contract with them and you pulled out you would have to pay there fees becouse they found a buyer who was ready and willing to buy your house, and im guessing the same would apply if you no longer wanted to use them. however you say you havent signed a contract with them so there stuffed tell them you no longer want to use them and say hello to the money youve saved its there mistake, they might try and make you pay for the cost of advertising your home but again you didnt sign a contract so they dont have a leg to stand on. lucky you

Doozergirl

THe EA can check ownership with the Land Registry and if the names tally with someone on their books, they are entitled to their fee.

The fact that there wasn't a contract signed doesn't really mean much when you had their sign outside the door and then eventually sold your house. It would indicate that your intention was to sell through them.

We had a lady post on here a while ago who was being chased for payment 2 years down the line and the estate agent was taking it very seriously!

Doozergirl

zipwen1 wrote:

there is a thing called a ready and willing buyer contract or something like that dont know the actual name, basiclly if you have signed this contract with them and you pulled out you would have to pay there fees becouse they found a buyer who was ready and willing to buy your house

I don't get this. Apart from the fact that all estate agents I have ever dealt with operate on a no sale, no fee basis, how can an Estate Agent prove that a buyer was ready and willing if they never got to the point of exchange?
One in three house sales collaps meaning they would be probably be claiming their fee wrongly in many cases

Any unscrupulous agents out there able to clarify for me? :rotfl:

charle1980

Doozergirl wrote:

The fact that there wasn't a contract signed doesn't really mean much when you had their sign outside the door and then eventually sold your house. It would indicate that your intention was to sell through them.

We had a lady post on here a while ago who was being chased for payment 2 years down the line and the estate agent was taking it very seriously!

Surely it would mean something if they tried to pursue me in court for their money. They have never so much as spoken to my DH (whose house it is) and who's to say I didn't take the sign down ASAP?

silvercar

estate agents note down whenever they send property details out, they also call log. it would be very easy to prove that they supplied the link that lead to the sale. your buyer may agree to play along with you now, but would he/she be prepared to purger themselves in court for you?

charle1980

silvercar wrote:

estate agents note down whenever they send property details out, they also call log. it would be very easy to prove that they supplied the link that lead to the sale. your buyer may agree to play along with you now, but would he/she be prepared to purger themselves in court for you?

LOL - I am surprised the EA even know I have a buyer they are clueless. They were having a major refit at the time the property was supposed to be marketted, As luck would have it the buyer has friend's in the village and was looking for a property just like ours. The EA never did any particulars for our house or advertise it, all they did was stick a sign up and 24 hours later I myself showed the buyer round and negotiated the price and agreed on a figure with him.

Surely it wouldn't make it to court, I say the EA messed up bigtime being too eager to scam another person out of money and not waiting for signed contract! So more fool them!! :-)

silvercar

Its your call. At the end of the day the estate agent will present his invoice to the seller's solicitor. You will then need a conversation with your solicitor as to whether it should be paid or not.

zipwen1

Doozergirl wrote:

I don't get this. Apart from the fact that all estate agents I have ever dealt with operate on a no sale, no fee basis, how can an Estate Agent prove that a buyer was ready and willing if they never got to the point of exchange?
One in three house sales collaps meaning they would be probably be claiming their fee wrongly in many cases :confused :rotfl:

the ready willing and able buyer clause is in some contracts, it means that if your EA finds a buyer and that buyer instructs a soliciter then the vendor pulls out the vendor is liable to pay the EA a fee not the total fee usually about £350

Doozergirl

I'm not entirely sure why, OP, you've even asked for advice here. It seems to me that you are simply looking to justify your actions by finding people to agree with you.

The site is about MoneySaving, not fraud.