Beware! Estate Agent Agreement Terms :: Penyards Country Properties

pendragon_arther

hollydays wrote: »

I have to disagree. A buyer of my last house tried to sell privately and was naive and got Messed about by their so called buyer, who was actually a property speculator who targeted people like this and had four or five of them on a string at the time. Let everyone down at the last minute, while not incurring any solicitors fees themselves.estate agents knew this buyer and could have warned her.

Not so. I once went through the estate agent route and got let down at the stage just before exchange of contracts because the buyer couldn't raise the necessary funds at the last minute. Luckily we went back to the second potential buyer who had offered a slightly lower price and went with them. It was hairy because we had to physically rush around to solicitors to exchange contracts to meet the deadline. The estate agent was useless in this case. You sometimes have to take your chances. Online poses the same risks but is much much cheaper.

hollydays

pendragon_arther wrote: »

Not so. I once went through the estate agent route and got let down at the stage just before exchange of contracts because the buyer couldn't raise the necessary funds at the last minute. Luckily we went back to the second potential buyer who had offered a slightly lower price and went with them. It was hairy because we had to physically rush around to solicitors to exchange contracts to meet the deadline. The estate agent was useless in this case. You sometimes have to take your chances. Online poses the same risks but is much much cheaper.

I'm not sure what you mean by not so? It happened..

LilElvis

pendragon_arther wrote: »

I'd never use an estate agent as such. You can sell online for as little as £1000, even Tesco does it now.

I would hazard a (reasonable) guess that a property which is a) being marketed in magazines, and b) has generated an estate agent's fee of £20k is worth circa one million. Potential buyers of this type of property are unlikely to use online agents such as Tescos. There's a world of difference between marketing a 2-bed end of terrace and a substantial house.