Taking home off market...£200 + VAT

cockaleekee

MickeymouseOl wrote: »

i cant coz then they just ring you all the time asking you to lower it and if they feel that its not a suitable price, or i refuse viewings, ignore calls, refuse to sell etc they can just remove it and still wan the fee of 200 + vat...it also has this in the contract....i just feel like im paying for nothing, i feel they didn't push it and didnt really care they just want there money

How do you know they have not pushed it? It seems that, aside from one occasion when your dad went in, you don't.

I do think you need to take some responsibility here - how often did you contact them to ask what they were doing to market it? How much have equivalent properties sold for?

Poppy9

Not clear here.

• Who decided on the original asking price?
  
• If Agents, what price did they suggest?
  
• How soon after you had it on the market did they ask you to drop the price?
  
• How much did you eventually drop the price to?

If you went with their original asking price and dropped it by a reasonable amount and they still failed to find you a buyer in 3 years I think they would struggle to justify charging you an exit fee.

MickeymouseOl

well ok to be fair i don't aside from that one time, i rang them once or twice to ask what they were doing and they sed it went in the paper on a rotation of every 8 weeks. (which i didnt feel was as regular as id like - thats only 6times a year) to be honest i dont no what equivelent properties have sold for as i have never looked, my property may have been slightly higher then some but i do not think it was over priced and they never said it was but could it lower it again. i did look at other houses on market which wer around the same price bt i dont no about sold ones.

MickeymouseOl

the original price was based on the valuation thats what they told me to go with. cant remember how long after bt wasn't straight away - maybe a year down the line they started asking me to lower price. I lowered it in total by 5k (doesnt sound alot but only talking a standard 2 up 2 down terraced house and i didnt have any equity to lower it futher) they new this but stil kept pushing for it - which i wasnt willing to do as id be a lot worse off then this 200 +vat and left with no house and debt still to pay on it. If i have to pay it then ok but i just thought it was worth a try asking on here would rather the money was in my pocket than theres!

visidigi

MickeymouseOl wrote: »

well ok to be fair i don't aside from that one time, i rang them once or twice to ask what they were doing and they sed it went in the paper on a rotation of every 8 weeks. (which i didnt feel was as regular as id like - thats only 6times a year) to be honest i dont no what equivelent properties have sold for as i have never looked, my property may have been slightly higher then some but i do not think it was over priced and they never said it was but could it lower it again. i did look at other houses on market which wer around the same price bt i dont no about sold ones.

What you feel they should of done doesn't come into it, its whats in the contract/agreement that is everything.

£240 for three years of ads etc is really quite reasonable. I think its unfair on them to expect they to have no payment for all the calls etc they have made to you, it sounds like you're irritated they call everyweek for a price issue, then in the next breath you say they haven't done anything to sell it...

pinkshoes

Firstly, I would say that THEM getting £200 for THEM terminating the contract is classified as an unfair T&C.

Secondly, I would say they have not performed satisfactorly. They knew your mimimum price that you could afford to sell at, and yet insisted on going below this, which is not good practice.

It suggests they told you a bogus valuation just to get your business. I'd go on Zoopla and see what similar houses sold for when yours went on the market, and see if the prices match, or whether they gave you an unrealistic valuation.

Fire_Fox

MickeymouseOl wrote: »

I'm takin it off to not sell anymore. Can't leave it on as I don't want viewers comin n if I refuse they can remove it bt still the fee. I havnt had many viewers but I also didn't lower the fee as much as they asked as I couldn't afford to equity wise because of the drop in house prices n the loss id already suffered with that as Im a first time buyer n bought the house right b4 the economy crashed.

They didn't guarantee to sell it at the inflated price you want, merely to market it which presumably they have. What you can afford to accept bears no relation to the current market value of your home, unfair as that may seem. You were professionally advised to drop the price and refused to do so, it's down to you the house has not sold not the agents.

They don't have to 'push' an overpriced property for a few hundred quid, they have to market it - make up leaflets, send them out to buyers, advertise in the window or newspaper. If you wanted the house in the paper more often than every eight weeks you should have specified at the outset.

I think as a first time buyer and seller you have been very naive and not done your homework, owning for only a few years is widely considered to be a gamble not a secure investment because of rises and falls in the market and the high cost of buying and selling. If you want to sell at a higher price than the market value you have to present, dress and 'sell' your own home, work with the agents not expect them to do all the work.

It's totally irrelevant what other houses are on the market for in a recession, many people are in negative equity or have an unrealistic view about the value of their home. It's simple to look up the sold prices of similar properties, try Zoopla. Bear in mind the market has continued to fall in some areas yet increased in others over the last few years, so asking you to keep reducing is not necessarily unreasonable.

visidigi

pinkshoes wrote: »

Firstly, I would say that THEM getting £200 for THEM terminating the contract is classified as an unfair T&C.

Secondly, I would say they have not performed satisfactorly. They knew your mimimum price that you could afford to sell at, and yet insisted on going below this, which is not good practice.

It suggests they told you a bogus valuation just to get your business. I'd go on Zoopla and see what similar houses sold for when yours went on the market, and see if the prices match, or whether they gave you an unrealistic valuation.

That it may be, but it has no bearing on this case as its the OP who wants to cancel.

Hintza

MickeymouseOl wrote: »

to be honest i dont no what equivelent properties have sold for as i have never looked,

If you don't "know" what other properties have sold for in your area then how can you set a price on your own house. You are being unrealistic here and £200 seems cheap.

Just out of interest our neighbours house which sold for £850k in 2006 had just sold for around £350k. Repossessed.

Unless you are realistic about the price it will not sell and you will have to wait a few years.

pinkshoes

visidigi wrote: »

That it may be, but it has no bearing on this case as its the OP who wants to cancel.

True, but they could then get the EA to raise the price to something unrealistic (i.e. the initial price), so if the EA states they want to terminate, they could argue this to be an unfair T&C!