Forced to pull out of sale-Agent wants full fee

PasturesNew

abccba wrote: »

.....could that be my way out of this deal?

Yes. If they try to get some money knocked off you can stand your ground ... of course, they might then "magic up the money" from nowhere and still want it at the original price.

Thrugelmir

Suspect that the EA may have difficulty enforcing the clause if they pursue the matter.

ViolaLass

If you can't afford the bill if you sell, how are you going to pay it if you don't sell?

abccba

Thanks for the responses everyone.

I think my best option is to phone the agent first thing tomorrow and say that I'm not withdrawing. Then hope that the buyer pulls out based on the survey coming back with a lower value.

Would you say this is my best option to avoid the agent fee?

abccba

If I sell the solicitors will want the service fee paid in full before the property is registered in the new owners name. If I don't sell I can pay off the bill (I have asked the service company if they would be happy if I paid it off )

TBeckett100

When the buyer comes to see the flat, just casually mention that he may want to put an alarm in as someone tried to break in one night when you were asleep

Make the place look cramped and messy. Ask upstairs to whack on some drum and bass music. You get the picture

G_M

abccba wrote: »

..... If I don't sell I can pay off the bill (I have asked the service company if they would be happy if I paid it off )

So if you have the cash to pay it off, why not pay it off now and sell as agreed? As you say, the service company will obviously be only too happy if you pay it off.

kinger101

abccba wrote: »

What if the survey comes back to say that the property is not worth the agreed selling price? Could that mean that I don't pull out but wait for the buyer to either make a lower offer which I can't accept or the buyer pulls out cause he can't get the mortgage? There is a strong possibility that the survey will come back lower .....could that be my way out of this deal?

If the survey comes back with a lower price, you do not have to renegotiate. Stand firm and let the buyer pull out. Indeed, if it's just a valuation (highlighting no urgent repairs) you can just tell the vendor that it was obviously worth X to them when they put the offer in.

kinger101

G_M wrote: »

So if you have the cash to pay it off, why not pay it off now and sell as agreed? As you say, the service company will obviously be only too happy if you pay it off.

Reading between the lines, I don't think OP would have enough capital for their onward purchase after settling the service charge, or enough to clear a mortgage. One of the two.

Thrugelmir

abccba wrote: »

Would you say this is my best option to avoid the agent fee?

Find your contract and speak to your solicitor. Will be 15 minutes well spent.