Buyer's awol- agent not helping

ajm410

Hi! Long one I'm afraid... and please accept my ignorance, I've never sold a house before.

I'm selling my late mum's house. 3 weeks ago, I had an offer made on it for less than I'd originally hoped for, but it included the condition to complete within 4 weeks, so I accepted.

It's now been three weeks to the day and still my solicitor hasn't heard from the buyer's solicitor, and I've been told by the agent/buyer's solicitor that it will take up to another 3-4 weeks. But who can believe them?

3 days ago I agreed in writing with my agent that I was prepared to wait a further 3 weeks. However still no one's heard from them so I've decided not to waste any more time and cancel and remarked with another agent (because these are useless, but that's a whole other story).

I understand that I can cancel the sale at any time but now the agent is saying that I will have to pay the sale fee as they have "found a ready and willing buyer and completed the contract on our behalf"

Does this sound right?

Thanks!

Alter_ego

Yes, sounds like the usual EA contract.

GDB2222

ajm410 wrote: »

Hi! Long one I'm afraid... and please accept my ignorance, I've never sold a house before.

I'm selling my late mum's house. 3 weeks ago, I had an offer made on it for less than I'd originally hoped for, but it included the condition to complete within 4 weeks, so I accepted.

It's now been three weeks to the day and still my solicitor hasn't heard from the buyer's solicitor, and I've been told by the agent/buyer's solicitor that it will take up to another 3-4 weeks. But who can believe them?

3 days ago I agreed in writing with my agent that I was prepared to wait a further 3 weeks. However still no one's heard from them so I've decided not to waste any more time and cancel and remarked with another agent (because these are useless, but that's a whole other story).

I understand that I can cancel the sale at any time but now the agent is saying that I will have to pay the sale fee as they have "found a ready and willing buyer and completed the contract on our behalf"

Does this sound right?

Thanks!

Sorry, have you actually exchanged contracts with the buyer?

What does you contract with the EA say?

ajm410

I've not exchanged contracts with the buyer.

It says: "... In the event you exercise any right to cancel under Part I overleaf, you will pay us an amount in proportion to what has been performed until you have .... For the avoidance of doubt, where any service has been fully performed prior to your cancellation, you will be liable for the fee for that service and you will lose the right to cancel that service."

eddddy

ajm410 wrote: »

I've not exchanged contracts with the buyer.

It says: "... In the event you exercise any right to cancel under Part I overleaf, you will pay us an amount in proportion to what has been performed until you have .... For the avoidance of doubt, where any service has been fully performed prior to your cancellation, you will be liable for the fee for that service and you will lose the right to cancel that service."

I think you might be looking at the wrong part of the contract - that sounds like it's about cancelling during the cooling off period.

You probably want to look for a section headed "Termination" - not "Cancellation".

And you need to look at the "Ready willing and able buyer" clause, to see if it relates to your situation.

ajm410

Ah, I'm sorry!

It says:

"Agency fees following termination
... That following termination of this agreement, we entitled to the agency fee in the event that you proceed to exchange contracts for the sale of the property with the purchaser introduced by us during this agreement: a) if this occurs within six months of termination of this agreement and another at state agent is instructed, or b) if this occurs within two years of termination of this agreement when no other state agent is involved in the sale."

And:

"Fees costs and charges
To be liable to pay the agency fee and subject to clause 3.1.9 (interim invoices) any other costs or charges agreed and incurred by us on your behalf in a sle/multiple agency case upon unconditional exchange of contracts for the sale of the property."

There doesn't appear to be any clause or a definition of "ready willing and able buyer" in the contract- but that was in his email to me

ajm410

It definitely doesn't say anything about "a ready and able buyer" in the terms and conditions

eddddy

ajm410 wrote: »

It definitely doesn't say anything about "a ready and able buyer" in the terms and conditions

Ok - so say that to the EA, and therefore ask them which clause in the contract they are relying on to claim a fee.

Penitent wrote: »

Even if the contract did say that, the buyer they've found doesn't strike me as particularly ready or willing if she's gone AWOL.

That's the problem with "ready willing and able" clauses - they are imprecise and cause arguments.

I always fight to have those clauses removed before signing an EA contract.

ajm410

Thanks a lot, I'll do that

ajm410

Hi again,

So the EA has responded and said that "The clause which it could fall under would be Part 1 notice to cancel."

However, as edddy said above, this section doesn't mention that and seemingly only covers a right to cancel within 14 days of undertaking the agreement. There aren't even any clauses in part 1!

The EA has been deceitful from the start and it would appear he is doing so again.

Any thought?

tlc678910

Hi, can you get it back on the market with the same agent so that they still get their fee when the house does sell?