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Avoiding Estate Agent fees
zaprok
Posts: 14 Forumite
I have a flat on the matket at £95,000.If I sell my estate agent will net £1,500 of that.My neighbour is interested in buying my flat and suggested a private sale.
Is this difficult to do and how much would a solicitor likely to charge for doing the documentation and legalities etc?
Comments welcome,Best wishes,Zaprok.
Is this difficult to do and how much would a solicitor likely to charge for doing the documentation and legalities etc?
Comments welcome,Best wishes,Zaprok.
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Comments
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The solicitor costs will be the same as if you sold thru an agent (the costs vary by property and location - solicitors should offer you an estimate/quote). Check your EA contract!!! make sure its not sole selling rights. if its sole agency and says you can sell privately, then your all set to just advise solicitor.0
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The solicitor costs will be the same as if you sold thru an agent (the costs vary by property and location - solicitors should offer you an estimate/quote). Check your EA contract!!! make sure its not sole selling rights. if its sole agency and says you can sell privately, then your all set to just advise solicitor.
Thanks kingkano,yes it is a sole selling rights agreement for the period of 12 weeks of which there are only 3 weeks remaining.An offer has been made for my property-does this mean an "unconditional exchange" of contracts?? The lady who made the offer s supposedly getting a survey done but I've not yet heard anything.What is my legal position if I just let the remaining time run down on the sole selling agreement and sell privately(my neighbour has not been introduced by the EA)??
Thanks,Zaprok0 -
sole selling rights means just that. You would have to decide not to sell to the person that made the offer (preferably before she pays for a survey!). Then wait for the agreement with your estate agent to end. Then meet with your neighbour over the garden fence and mention selling up.
Your neighbour would need to be clear that they found you would sell your house in discussion with you and not in any way connected to seeing a board outside your house.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
sole selling rights means just that. You would have to decide not to sell to the person that made the offer (preferably before she pays for a survey!). Then wait for the agreement with your estate agent to end. Then meet with your neighbour over the garden fence and mention selling up.
Your neighbour would need to be clear that they found you would sell your house in discussion with you and not in any way connected to seeing a board outside your house.
Thanks silvercar,
no my neighbour has not booked a viewing through my EA but obviouslyshe can see a board has gone up!!?? I just need to know that once the sole agreement runs out with the agent then he cannot claim a commission from me if I sell to my neighbour? Zaprok0 -
The agent could try and claim that the sale is a result of his board. Your solicitor would need to advise you on whether this would stand up in court. It could depend on how aggresively the agent pursues this.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Surely neighboirs talk though? You could say you were in discussions with your neighbour about selling before you went on with the agent.Come on baby, in our dreams we can live on misbehaviour.
I can see the carrot at the end of the tunnel0 -
Surely neighboirs talk though? You could say you were in discussions with your neighbour about selling before you went on with the agent.
correct. Id love to see this one argued out in a court of law.
Personally, I cant really see the EA pushing it to court, for 1500 to be honest.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0
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