Question regarding EAs Fees?

achiddas

Quick question regarding our EAs and there policy regarding the sale of our house to my in-laws.

1. If they have not introduced us to these buyers( which is obvious as they are my wifes parents) can they still claim their 1.5% commission on the sale.

2.If yes, how long can they lay claim to commission after we have taken our house off the market with them ( the contract says 6 months for a sale to buyer they have introduced, which they obviously have not done in this case)?

3.If they do lay claim to commission, do you think they would accept a gracious payment buy ourselves to cover there costs as this sale was not organised by them. They have been reasonably good EAs, apart from the no show of one appointment, and I do accept they have costs to cover but it seems a little bit cheeky to expect £2000 for a sale they have not brokered.

I know some will say just ask your EAs, but thats what this forum is for right!!!!

Thanks for your time and anticipation of response.

magpiecottage

It will depend on your contract with the Estate Agent.

We cannot see it so we could only guess. At 1.5%, though, they probably have sole selling rights which would mean they can. Alternatives which mean they could not would probably involve a higher fee if the did introduce the borrower.

kingstreet

If you didn't tell the agent of this possible interest, in writing, at the point you signed your contract, a sole rights agreement would entitle them to payment regardless of who purchased the property.

Given it is a relative, they may be willing to negotiate a reduced payment with you.

I know some will say just ask your EAs, but thats what this forum is for right!!!!

The HBR&S board would doubtless be more appropriate for such a query as this has nothing to do with Mortgages & Endowments. I see you've posted it there too, so it may be more appropriate to continue the discussion there.

https://forums.moneysavingexpert.com/discussion/3528535