Variations to EA contract

TwistedPsycho

Quick question from talking to another vendor in my area (completely different part of the housing market thankfully).

Their property is on a guide price which is £250k to £265k. The EA has asked them if they would change it to £240k to £265k which they agreed to.

They received a new contract through the post while still in their tie-in stating the new facts but stating that they are back to day 1 of their tie-in...... surely if the EA has suggested marketing it at a value then has to change that because no one is offering then they should not have to be locked into a new tie in?

G_M

I would agree. Unless the vendors AGREE to the new contract.

My advice would be to return it with a covering note (keep a copy) saying they are happy with the original contract dated xx and do not wish to sign a new one.

How much longer does the original tie in have to run? If the EA makes a fuss about this, all the more reason to have nothing more to do with them, so, tell them to go back to the original price, sit out the remainder of the original contract, give notice (in good time!) and find a new agent.

DVardysShadow

Yes, what G_M says. It looks to me like a sneaky way of extending the tie in more than a genuine change of the asking price. There is absolutley no need to sign or accept this new contract. The old one should be allowed to run, there is nothing wrong with doing that. If the EA makes the least bit of fuss about needing a new contract, if I were the vendor, I would give notice immediately.