is it OK to pull out?

chrishar

Having accepted an offer I have changed my mind about selling my property. I haven't spoken to the solicitors yet or signed anything but the estate agent has the property down as sold stc.

If I am to pull the plug do I just tell the agent, do theyneed to know why? Will I owe them any admin fees?

Guest101

Yes you can.

No you dont need a reason

You may/will owe something - cant read contract from here

rosie383

If you are going to pull out do it now before the buyer spends a penny. Don't even wait until tomorrow if you are completely sure that you don't want to sell.
As for the fees to the EA, check the paperwork.

Surrey_EA

Most EAs operate on a 'no sale-no fee' basis, although not all, so check the paperwork they have given you.

Guest101

Surrey_EA wrote: »

Most EAs operate on a 'no sale-no fee' basis, although not all, so check the paperwork they have given you.

Such a generalisation I have not heard in a while!

Agree with the check the paperwork bit though

Surrey_EA

Guest101 wrote: »

Such a generalisation I have not heard in a while!

Agree with the check the paperwork bit though

In 18 years I have yet to come across an EA who does not work on a 'no sale-no fee' basis! So not a generalisation without some foundation, based on reasonably extensive personal experience.

However, I realise that not everywhere in the country will be the same, hence the suggestion to check paperwork.

Pixie5740

Yes, the Catholic Church actively encourages it.

rosie383

Tut tut Pixie!

Thanks for giving a much-needed giggle.

Guest101

Surrey_EA wrote: »

In 18 years I have yet to come across an EA who does not work on a 'no sale-no fee' basis! So not a generalisation without some foundation, based on reasonably extensive personal experience.

However, I realise that not everywhere in the country will be the same, hence the suggestion to check paperwork.

18 years as ?:
an estate agent, a property developer; local, national?

There are thousands of estate agents in this country, many not part of a national chain.

I've seen plenty where it is payable upon finding 'a ready, willing and able buyer'. Plenty where after cooling off period, admin fees apply. (eg advertising costs etc)

I appreciate what you said, but by your name, presumebly you're an estate agent in surrey? - which will help the OP if they're advertising through you, but otherwise limited

DRP

Surrey_EA wrote: »

In 18 years I have yet to come across an EA who does not work on a 'no sale-no fee' basis! So not a generalisation without some foundation, based on reasonably extensive personal experience.

However, I realise that not everywhere in the country will be the same, hence the suggestion to check paperwork.

^my experience too (in S.Wales/SW/Bristol).

Surrey_EA

Guest101 wrote: »

18 years as ?:
an estate agent, a property developer; local, national?

There are thousands of estate agents in this country, many not part of a national chain.

I've seen plenty where it is payable upon finding 'a ready, willing and able buyer'. Plenty where after cooling off period, admin fees apply. (eg advertising costs etc)

I appreciate what you said, but by your name, presumebly you're an estate agent in surrey? - which will help the OP if they're advertising through you, but otherwise limited

18 years spent working for different firms, some local independents others multinational PLCs, and all have been on 'no sale-no fee' basis. I cannot think of one of my competitors, either currently or in the past, that does not operate on this basis.

It is my view that this is the industry norm, and those firms that do charge some sort of fee should a vendor choose to withdraw are firmly in the minority.