Sacking Estate Agent - Understanding the contract

kay_1

I never said I wanted to drop the buyer because they hadn't arranged a survey :huh: I only wanted help to understand the contract not to be told I want 'to have my cake and eat it'.

It says 'The Agency Period is 12 weeks beginning on the date of this agreement'.

vectistim

It probably also says you need to give n weeks notice to terminate.

kay_1

It says 14 days notice so does that mean 14 days after the expiry period? I guess it's sounding like I won't be able to market the property with anyone else until after the New Year.

googler

kay_1 wrote: »

I never said I wanted to drop the buyer because they hadn't arranged a survey

But ... ... .

kay_1 wrote: »

Hubby and I have decided to pull out of our sale (buyer hasn't yet put any money into property for survery or anything)

kay_1

That does not say anywhere that's the reason we want to pull out of the sale. I put that so people knew the position and didn't think we were pulling out when the buyers had paid money into the house. If that was the reason I would have put 'Hubby and I have decided to pull out of our sale BECAUSE .....'.

Jeez!

Hoof_Hearted

googler wrote: »

So ... On the one hand you want to drop this buyer because they haven't yet arranged a survey, but on the other hand, you want them to wait because you haven't found an onward purchase?

Sounds to me like you want to have your cake and eat it.

Is the agency period end date an actual end date, or merely the expiry of a minimum agency period?

It sounds more like the OP doesn't want a greedy estate agent to eat a big chunk of her cake when she can just give a few crumbs to an online agent.

I would say, be patient. Give notice now in writing that you want to terminate the contract at the end of the minimum period. Enjoy Christmas and the re-market in the new year with an online agent, but remember you do need to conduct your own viewings.

SternMusik

But you knew about the fees before you signed up with the EA? I am a bit confused why this has become an issue now.

kay_1

Thank you Hoof Hearted that's much appreciated.

We were aware of the fees but as stated a buyer was found before we signed any contract and before it went 'live' so we felt we had to sign.

cycloneuk

kay_1 wrote: »

This will save us 3.5k as our Estate Agents want almost 4k commission on our £150,000 house :shocked:

So you would be paying an online agent just under £500? how hard do you think they are really going to work for such a low amount, is it an upfront fee?

You would be best going with another high street agent rather than an online agent unless you have very a sought after desirable property in an area where properties are selling fast.

You were lucky to get a buyer so quickly, could take you 7 days or 7 months next time. You were actually in a very good position to negotiate the EA fee with a buyer ready before you signed the contract.

Hoof_Hearted

cycloneuk wrote: »

So you would be paying an online agent just under £500? how hard do you think they are really going to work for such a low amount, is it an upfront fee?

You would be best going with another high street agent rather than an online agent unless you have very a sought after desirable property in an area where properties are selling fast.

You were lucky to get a buyer so quickly, could take you 7 days or 7 months next time. You were actually in a very good position to negotiate the EA fee with a buyer ready before you signed the contract.

Ignore this rubbish. We paid an upfront fee and the service was excellent. Online agents are cheaper because they do not have high street premises, they don't pay huge commissions to staff, and they don't do viewings and therefore need fewer staff. It's a different way of selling and not for everybody.