Withdrawal Fee

JasonHand

Hi,

I'm hoping someone can give me some advice.

I've had my house on the market for around 3 years and I've had very little luck with even getting viewings.

I think I've had 4 viewings in this time. Now this seems extremely low to me.

At the end of last year I decided to do a large amount of home improvements and my estate agent put the house into "hibernation". After I'd made the improvements to the house we put it back onto the market.

The estate agent then came to take some new photographs. I had some small niggles with the photos taken at the time. For example they didn't seem bothered about taking photos of the bathroom even though that had been improved. They also said they were unable to take photos of a small nursery we have because they said they didn't have the angle to take the photo. We actually took the photo ourselves with no problem and emailed it to the estage agent.

When the house went back on the market we had 2 viewings in quick succession but neither came to anything. I think that would have been around the middle of March. Since this time I've not heard anything.

So because of this I'm wanting to go to a new estate agent. I've had 2 estate agents come round and value the property and have valued it at the price its on the market for currently.

I have contacted my current estate agent to send me my current contract and they've done so.

It states I'd have to pay a £200 + vat removal fee. Now I don't feel I should be paying this because I just don't think they've done their job.

We also had problems with getting the photos onto the rightmove mobile site. They still had all the old photos of our house prior to the improvements we made.

I'd like to get my house on the market with another company asap.

So what are my chances of getting out of my withdrawal fee? I notice on one the info pages on here Martin mentions something about the 1 week get out clause.

So before I let my estate agent know I'm sacking them I would like to know where I stand.

Many thanks everyone
Jason

mrginge

What exactly does the contract say?

Is it something along the lines of '£200 withdrawal fee unless you decide we haven't done a good job'?

Sounds like they have actually marketed your property twice now.

Unfortunatly the time to query this was when you signed the contract.

You seem to think that the value is correct, given that two other agents have valued at the same level. So why do you think your house has not sold?

googler

If the contract specifies a withdrawal fee, and you signed the contract, you owe them the fee. What does your contract say?

BitterAndTwisted

£200 plus VAT is a drop in the ocean compared to hanging onto a house you can't sell for three years.

The usual reason properties linger on the market for so long is that they're not sensibly-priced. The other agents could be valuing your property just to get you onto their books but you might not necessarily be in a different position to the one you are in now.

What have other similar properties actually sold for in the last 12 months? This is the information that any prospective buyers will be able access, and could explain why no-one is even bothering to view.

hazyjo

Even without the viewings, £200 & vat isn't exactly much for three years' work! I know you've only had a handful of viewings, but, even so, I presume they've been paying for RM listings and maybe newspaper insertions?

Personally, I wouldn't have signed up with an EA who charges to end the contract, but, since you have, I don't see that you have much choice other than to pay it. Choose more carefully next time...

You won't want to hear it, but your price must be too high. There may be compromises which is why it's not selling, but if it's priced at the right level, it will sell, despite whatever it is that's putting buyers off.

Jx

JasonHand

Under the heading of withdrawal charge it says

Should the property be withdrawn from the market with ourselves whilst a willing and able purchaser is proceding with the transaction, (Estate Agent) will be entitled to charge the sellers of the property a fee of 1/4% plus VAT of the agreed sae price, plus any outstanding disbursements. If a sales has not been agreed on the property a withdrawal fee of £200 plus VAT will be payable plus any outstanding disbursements.

Obviously I appreciate what you are saying in regards to the contract. Its something I should have checked at the time of signing.
They have marketed the property twice and both times I've had very few viewings.

My biggest issue with the Estate Agent is they have offered no advice whatsoever. We have always been the ones to come up with the ideas.

Another point in question is we had a new boiler fitted and they wouldn't do a new energy performance report.

As for why the house hasn't sold I really have no idea.

Maybe the house is slightly overpriced but I've asked the Estate Agent this and they say the price is right.

Thanks again
Jason

JasonHand

Thanks everyone for your replies. Looks like I'm going to have to pay the withdrawal fee.

At least my new agent doesn't charge a withdrawal fee or a setup fee

Thanks again everyone for your quick answers.

Oh as for price if I was told it wasn't worth the value it was on for then I actually wouldn't be too concerned.

DaftyDuck

If it's been on sale for around 3 years and not sold then...

JasonHand wrote: »

it (isn't) worth the value it was on for ....

hazyjo

There must be something putting viewers off - up to you to identify it as your viewers probably won't say, and your EAs probably won't either. Can't you think of anything? Are you willing to show us the link?

tbh, I doubt a revised energy performance report would have made any difference. Not something most of us pay much attention to anyway.

Jx

JasonHand

Do you mean link of the property?

shazza39

Personally if I had my property on the market for 3 years give or take few months when it was off the market I would be asking myself why I've only had 4 viewings?
If it states a withdrawel fee in the contract and you have signed it then you really must pay it...