A tiny bit of advice please re estate agents fees

pararct

scorgeous wrote: »

Many thanks for everyone's helpful advice. The estate agent rang my husband the other day and told him that he would not be filling in the part exchange valuation request form for the builder as they dont make any money on it, and that also we will be liable for their estate agents fees if we part exchange. He also told the builders that were more than likely going to get an offer in before the end of the weekend, so the builders are hesitant to do it. It is now Tuesday and we have not had an offer. :( Darn those estate agents

Is the housing market pretty buoyant round your way then?
Have you instructed a solicitor as yet? Might be worth getting their take upon it.

The term in the contract may well be unenforceable particularly as the agent does not have to do any work at all to realise it. At the same time what are their fees calculated upon? X% of the final sale price? How will that work if the property is taken in Part Ex?

I get the impression the Agent may be flying a kite, don't take what they tell you gospel get a second opinion.

scorgeous

pararct wrote: »

Is the housing market pretty buoyant round your way then?
Have you instructed a solicitor as yet? Might be worth getting their take upon it.

The term in the contract may well be unenforceable particularly as the agent does not have to do any work at all to realise it. At the same time what are their fees calculated upon? X% of the final sale price? How will that work if the property is taken in Part Ex?

I get the impression the Agent may be flying a kite, don't take what they tell you gospel get a second opinion.

Hi,
Well there are a few houses selling, but not loads. We've had 3 viewings in 2 weeks and have another one booked for the weekend.

The contract states that the fees are calculated on a percentage of the sale price