selling direct, house on market with agent

dsr_2

I am helping parents sell their house, they've had an offer accepted elsewhere. My brother is trying to raise cash to buy (he has first call) but neighbour friends are also interested. Parents keen to avoid agent fees. I am concerned that these private options might come to nothing & cost the parents' new purchase
Is it illegal to place house on the market with an agent whilst still pursuing these 2 private leads? Hopefully agent will generate offers 1 of which could be accepted if these 2 private leads come to nothing, I'd be happy to tell any bidder the situation, I don't want to deceive anyone.
Would we need some written proof that the neighbour was considering buying before it went on the market with an agent?
Any other advice if this parallel sellling process is not illegal?
thanks
dan

Doozergirl

You need to make sure that an agent knows you have 2 possible leads in the pipeline and that you are signing a sole agency agreement and not giving the agent 'sole selling rights'. Rather than get something from the neighbour, I would simply ask the EA to add the names of your potential buyers to the bottom of the contract, stating that if the sale did proceed with any of those people, you would not be liable to pay agent's fees.

dsr_2

that sounds very sensible advice. Think that will work if we use the same EA as is dealing with the new house - they'll have an interest in going thru with it because of getting the whole chain done quickly. Altho I suppose they may not be bothered bringing people out to the house as there is someone attempting to buy it, but it should minimise delay should private sale fall thru.
thanks
dan

lettings-landlords

Have the sole agency contract altered to specify that you can continue to market and sell the property privately whilst instructing the EA as sole agency.