Selling house without estate agent

louisaj28

Hi all

I have been getting my house ready for the market over the last few weeks and the estate agent we have chosen is due to come out tonight to take photos for the website/brochures etc.

However, last night a couple appeared at our door saying they had heard we were selling up and were very interested in buying!

They have been in touch again today reiterating their interest in the property and stated they are seeing their mortgage broker tonight and have a healthy deposit. We haven't mentioned prices as yet but guess we need to so we know where they stand and if indeed they are in a position to buy.

I am not sure where we stand with the estate agent, we haven't signed anything with them but had agreed they would market it for us along with another property we are selling.

If we were able to sell direct, this would cut down on our fees and the buyers but would our legal costs go up if we were going down this route?

Can anyone offer any advice on this matter?

Thanks

hazyjo

Are they psychic, have they heard from your friends or neighbours, or did the EA say to them that your house was coming on to the market soon?

Jx

louisaj28

hazyjo wrote: »

Are they psychic, have they heard from your friends or neighbours, or did the EA say to them that your house was coming on to the market soon?

Jx

yeah they heard through a local joiner (who they are friends with) who was doing some work for us last week!

Alter_ego

If you've agreed verbally with the EA you already have a contract with them, but try asking the EA to let it drop.

TrickyDicky101

Alter_ego wrote: »

If you've agreed verbally with the EA you already have a contract with them, but try asking the EA to let it drop.

But that would only matter if the contract specified 'sole selling' rights, if it instead is the (more) common 'sole agency' rights, then the OP is able to avoid the EA fees if selling to this couple who haven't been introduced by the EA.

louisaj28

TrickyDicky101 wrote: »

But that would only matter if the contract specified 'sole selling' rights, if it instead is the (more) common 'sole agency' rights, then the OP is able to avoid the EA fees if selling to this couple who haven't been introduced by the EA.

oh dear, it is sole selling rights!!

so basically the agent is now going to make 0.9% commission on the sale just for taking a few photos!!!!!!!!!!!!

hazyjo

You could always take it off the market with them - do they charge for that?

Don't usually advise doing that then selling privately, but if they've not sent any viewers round yet, they probably won't be watching like hawks to see if you struck up a deal with one of their viewers behind their back...

Hope that's not being too sneaky!

Jx

googler

If there's at least one couple willing to make the effort to knock on your door, wouldn't it be good policy to get it out there on the market and see how many other people are interested, THEN get this couple to bid against other interested viewers?

That way you stand the best chance of maximising your selling price, surely?

louisaj28

hazyjo wrote: »

You could always take it off the market with them - do they charge for that?

Don't usually advise doing that then selling privately, but if they've not sent any viewers round yet, they probably won't be watching like hawks to see if you struck up a deal with one of their viewers behind their back...

Hope that's not being too sneaky!

Jx

yes they will charge for cancelling the contract but I'm not sure how much at this stage, thanks for input

louisaj28

googler wrote: »

If there's at least one couple willing to make the effort to knock on your door, wouldn't it be good policy to get it out there on the market and see how many other people are interested, THEN get this couple to bid against other interested viewers?

That way you stand the best chance of maximising your selling price, surely?

good point, will hopefully start a bidding war!

hazyjo

If it's anywhere near what their commission will be, you might as well tell the buyers to go through the EAs and let them do the work...

googler has a point though - if it's a popular road where people are actually knocking on the door to buy, it might be worth seeing what other interest is out there. Of course that might pee them off, or you might end up with nobody else through the EA for months.

I'd probably deal with them direct if they actually submit an offer. It's all talk until then. Or you could do what some others seem to be doing and tell them it'll stay on with the EA until they have their survey done.

Jx