House selling question

go_cat

Sorry in advance for daft question ....scenario is...


If a house is tied into a contract with an estate agent but they don't find a buyer the seller of the house does themselves ( someone they know )

in this instance is commission still payable to the estate agent ( the contact does not mention this scenario )

Thanks in advance

Hijabee

This question is slightly confusing, maybe ask your local estate agent for help.

devotee

If they are a sole seller they are due commission (hope you didn't sign onto something so daft). If they are the sole agent, then no. Just inform them that you found a buyer yourself.

sonastin

Is the contract "sole agency" or "sole selling rights"? For the former, you can sell privately (see next point) without a fee but the latter they are entitled to their fee regardless of how the sale comes about

BUT if it is sole agency, they can still try to claim their fee if they think that your buyer became aware that the property was for sale due to their efforts (i.e. the buyer saw it advertised somewhere or the board outside the property). It is debatable whether the courts will uphold their claim but you'll have a fight on your hands either way - it could work out cheaper to pay than to fight if it went all the way to the courts.

How long is left on the contract? Can you afford to wait until the minimum period expires and then terminate?

go_cat

devotee wrote: »

If they are a sole seller they are due commission (hope you didn't sign onto something so daft). If they are the sole agent, then no. Just inform them that you found a buyer yourself.

Thanks for your response


They are the only estate agent the house is on with - sorry don't
know what sole seller is?

The tie in with the estate agent does not expire for another 8 weeks

googler

go_cat wrote: »

They are the only estate agent the house is on with - sorry don't know what sole seller is?

I think he/she meant Sole Selling Rights - the contract should specify whether it's

Sole Agency or
Sole Selling Rights

or other form.

devotee

googler wrote: »

I think he/she meant Sole Selling Rights - the contract should specify whether it's

Sole Agency or
Sole Selling Rights

or other form.

Yes she meant sole selling rights.

They might chance it with commission anyway if you're on a sole agency, but know your rights, just say selling to a friend of a friend.

G_M

Are you the seller?
Or buyer?
(or agent :rotfl: ?)

However as others have said it all depends what kind of contract there is between seller and agent.

devotee

G_M wrote: »

Are you the seller?
Or buyer?
(or agent :rotfl: ?)

However as others have said it all depends what kind of contract there is between seller and agent.

Nah, was in a similar position and asked all the agencies! Plus a very good friend is an EA so I know all their bull

go_cat

G_M wrote: »

Are you the seller?
Or buyer?
(or agent :rotfl: ?)

However as others have said it all depends what kind of contract there is between seller and agent.

Seller

G_M

devotee wrote: »

Nah, was in a similar position and asked all the agencies! Plus a very good friend is an EA so I know all their bull

Errrrr....... my question was directed at the OP!