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Is there a "cooling off" period on EA contracts ?
MadMonkey
Posts: 305 Forumite
I know there are certain contracts where you can cancel within 7 days if you chang your mind without being subject to penalties - is this the case with an EA contract ?
Thanks
Thanks
It's not paranoia if they really are after you.
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I think you're OK so long as it wasn't concluded at the EA's office but you'd have to check the The Consumer Protection (Cancellation of Contracts Concluded away from Business Premises) Regulations 1987 and subsequent amendments. It may also hinge on whether you rang them to arrange a valuation of whether they suggested it to you, e.g. as following a visit to another property they are marketing. These regulations do apply to services as well as goods.0
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I think this usually applies to things being sold door to door, e.g. if a window salesman knocks on your door and you decide to take him up on his fantastic one-time-only offer, and sign to that effect, you can change your mind within the next seven days and not be bound to the contract to buy his windows. I think it only applies where people solicit your business, i.e. you haven't gone to them in the first instance.
I'm sure someone will correct me if this is wrong.0 -
An EA's contract is not subject to any cooling off period....sorry. What penalties do you think you are going to incur? Most EA contracts are no sale no fee anyway, therefore nothing to pay.....or am i missing something?My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
MissMotivation wrote: »An EA's contract is not subject to any cooling off period....sorry. What penalties do you think you are going to incur? Most EA contracts are no sale no fee anyway, therefore nothing to pay.....or am i missing something?
We have no lock in period but we have to give 2 weeks notice. If we could just void the contract then there would be no notice.
I only signed it on Thursday.It's not paranoia if they really are after you.0 -
2 weeks is not much in the grand scheme of selling houses, though... I would just give notice immediately and speak to more agents in the second week (assuming you still want to sell) so as not have a break in marketing.0
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