Change of heart re:selling

leafton

Well, if we have to pull out we dont mind paying the EA as they are very nice genuine, honest people. We have talked about paying the buyer some money to cover any costs he incurs by having a survey done as it will certainly be cheaper for us to stay than move.

t_hamill

You're clearly a very decent person, it may be worth negotiating with the EA to see if they would be willing to come to a compromise on fees. At this stage your buyer shouldn't really have any significant costs, especially if they haven't had a survey carried out.

fivepound

It's normally "No Sale - No Fee" I don't think you have to pay anything if you pull out but chk with your EA then you know for sure!

With regards to not finding anything - we have been in the same position and being pushed hard in the chain below us. We almost brought a semi which was Ok but my heart wasnt it in. 1 day after we made an offer our "dream home" came on the market and we snapped it up.

Do all you can to keep your buyer and keep looking, you never know what's around the corner. As long as you are up front and honest about your position then if they want to wait, thats up to them. They dont have to have the survey done yet or even incur any fees until you have found something!

Keep strong and dont buy anything for the sake of it - do whats right for you!

Gorgeous_George

leafton wrote:

Thanks for your speedy reply. Much appreciated. Why the 'unfortunately'? Are you an estate agent? Sorry, not a regular on this board.

Hi

I've never heard of anyome being charged EA fees if the sale didn't complete. Maybe I've lead a sheltered life.

I say 'unfortunately' because your buyers have, for three weeks, being planning a significant event in their lives only for you to change your mind.

A case in favour of the Home Information Packs.

I'm sure you are good people and refunding any costs the buyers have made will go some way to easing their disappointment, Three weeks out of their life is lost forever.



GG

david29dpo

some contracts say, ready willing and able. this means you will have to pay if the sale does not complete. but this is rare. check you contract.

Liseyloo_2

Home Information packs - I am having a panic attack at the thought!!!

Like everyone else has said - check the Contract that you signed with the EA and talk to the Buyers honestly and find out how long that they would be willing to wait before you make a decision.

Good Luck!

leafton

We accepted their offer 5 days ago. We have been looking for three weeks.

leafton

Also George, how would having to pay the estate agent fees make it any better for our buyer?

Gorgeous_George

leafton wrote:

We accepted their offer 5 days ago. We have been looking for three weeks.

Sorry, I did not read that from your original post.

Nonetheless, having accepted an offer, I would find it difficult to withdraw from the sale - but that is me and you should only feel compelled to satisfy your conscience.

EDIT to add:

leafton wrote:

Also George, how would having to pay the estate agent fees make it any better for our buyer?

In the absence of any other penalty, having to pay EA fees would deter people from accepting an offer and then reneging on the deal (and that was when I thought that you had accepted their offer three weeks ago).

On a broader note, it seems that in today's world, a handshake regularly means very little. Perhaps each party should put up 0.5% of the sale price as soon as an offer is made and accepted.



GG

Nenen

If your prospective buyers haven't had their survey done yet (doubtful after 5 days) then I think the fairest thing would be to explain the situation to them and get them to hold fire on having a survey or instructing solicitor to do searches etc (assuming that they are willing to wait for you to find somewhere). Like PPs I think you should be honest with them so they don't get their hopes up.