Estate Agent Contract

LJB31

Hi all

I need reconstructive help please! My property has been on the market since April. I had a buyer which fell through after 6 weeks, also losing the property we had paid searches on, mortgage survey etc. My property went back on the market 3 weeks ago. I had an (acceptable) offer but this has since been withdrawn as they couldn't secure funds.

I an extremely concerned about my estate agents involvement with the first 'buyer' - using threats re completion date and their poor communication with me and general lack of marketing and I want shot of them to start again basically!. However, I signed a 26 week sole agency agreement which will expire on 26th October. I now know that this is the most ridiculous thing in the world and I should never have signed (I am torturing myself so please no one else do so :rotfl:) but I did!!! Is there any way of getting out of this contract now without having to wait til it expires and without penalty for going and selling with another agent?

Do I have a leg to stand on re their conduct around my 'buyer' (ie my vendor knew more about the problematic situation with my buyer than I did; my 'buyer' had apparently expressed concern about all parties wanting to complete in August - EA admitted that it could only have come from them but it wasn't something that had even been discussed with us).

Does anyone have any ideas (apart from the obvious - read the small print next time!!)

eddddy

In order for you to terminate the contract, the EA must have fundamentally breached the contract. From your description, I'd guess they haven't.

You can ask them if they will voluntarily terminate the contract - but I guess they wouldn't.


Assuming it's a 'typical' EA sole agency agreement, if you instruct another EA, and the new EA introduces somebody before 26th Oct who eventually buys your property - you will probably have to pay full fees to both EAs.

G_M

Nope!

You'll have a really hard uphill battle trying to argue the agent's actions constituted enough to rescind the contract.

I'd sit back and do nothing till Sept/Oct, then give notice (CHECK whether you need give 2 weeks, 4 weeks, or, given the contract you signed, perhaps 12 weks notice!).

Once you are shot of the agent, start again, a wiser and saner seller.

Sign up to a max 8 week contract with 2 weeks notice next time. EAs are always keen to get your business, so it's all negotiable whatever they say as they pass you their pen to sign..........

LJB31

Oh dear!!

Is the EA legally obliged to provide a written copy of each offer? Can I get them on not doing that?

Clutching at straws ...!!

G_M

Sorry - I'm not sufficiently clued up on Estate Agent regulations to answer that. Someone may reply tomorrow....

or get googling!

eddddy

LJB31 wrote: »

Is the EA legally obliged to provide a written copy of each offer? Can I get them on not doing that?

So they've breached The Property Ombudsman Code of Practice for Residential Estate Agents:

9. Offers
9a By law, you must tell sellers as soon as is reasonably possible about all offers that you receive at any time until contracts have been exchanged unless the offer is an amount or type which the seller has specifically instructed you, in writing, not to pass on. You must confirm each offer in writing to the seller, and to the buyer who made it, within 2 working days.

Link: https://www.tpos.co.uk/members/codes-guidance

If you report them, they might get a slap on the wrist, or perhaps even a fine.

But as far as your contract goes, it's probably not a breach that's fundamental enough to terminate the contract.

I guess you could try the approach of "Agree to terminate the contract, or I'll report you" - but that might end badly.