Memo of sale and property off the market.

ric1982

Hi,

we have just got offer accepted on a house today. I have forwarded all the details to the estate agent. I have been asking about taking property off the market but the estate agent is saying they will not take it property off the market until they receives seller's solicitor's details and generate memo of sale.

Is this normal practice?

Thanks,

Cheeky_Monkey

Yes, I would say so. They need yours and the seller's solicitor details for the Memorandum of Sale.

ric1982

Cheeky_Monkey wrote: »

Yes, I would say so. They need yours and the seller's solicitor details for the Memorandum of Sale.

I understand that but does that stop them removing property from the market!?

G_M

They will remove it from the market when instructed to do so by their client - the seller.

However they often advise sellers not to do this till the buyer has demonstrated they are serious by eg

* providing conveyancer's details
* or even by completing a survey

Presumably you have your conveyancer's details, so can provide that by email today.

Presumably you also have finance arranged so can either
* instruct your surveyor and/or
* submit your mortgage application and thus get their valuation arranged

Of course, if you don't have these things lined up, perhaps you are not a 'serious buyer'!

ric1982

G_M wrote: »

They will remove it from the market when instructed to do so by their client - the seller.

However they often advise sellers not to do this till the buyer has demonstrated they are serious by eg

* providing conveyancer's details
* or even by completing a survey

Presumably you have your conveyancer's details, so can provide that by email today.

Presumably you also have finance arranged so can either
* instruct your surveyor and/or
* submit your mortgage application and thus get their valuation arranged

Of course, if you don't have these things lined up, perhaps you are not a 'serious buyer'!

I have provided all the details accept the conveyancer becouse I was waiting for the quote. So once I provide them this then there should not be any other reason for them to mark it as sold (unless like you said instructed by the client.) My question was, is it illegal for estate agent to mark property as sold without memo of sale.

Thanks

Cheeky_Monkey

ric1982 wrote: »

I have provided all the details accept the conveyancer becouse I was waiting for the quote. So once I provide them this then there should not be any other reason for them to mark it as sold (unless like you said instructed by the client.) My question was, is it illegal for estate agent to mark property as sold without memo of sale.

Thanks

No it's not illegal. Besides, they will normally mark it as either SSTC (sold subject to contract) or Under Offer if you offered under the asking price

k3lvc

Cheeky_Monkey wrote: »

No it's not illegal. Besides, they will normally mark it as either SSTC (sold subject to contract) or Under Offer if you offered under the asking price

And even then (assuming you're in England/Wales) there's nothing other than morals to stop them or the vendors accepting further viewings/offers

cjmillsnun

Get a conveyancer sorted and the details over to the EA. If you're getting quotes, try and find somewhere local. It may cost a little more than the online conveyancers, but it can be useful being able to deliver paperwork by hand, and you tend to get better service.

They absolutely will not remove the property from the market until you have done this.

Mickygg

You should have got solicitor sorted before offering if taking off the market is that vital to you.
Quotes take seconds on line. Seconds over the phone.

G_M

Mickygg wrote: »

You should have got solicitor sorted before offering if taking off the market is that vital to you.
Quotes take seconds on line. Seconds over the phone.

although I's argue that selecting a conveyancer involves more thanjust a quote, and so takes longer.

However agree it could/should be done well before putting in an offer. As soon as you start seriously house-hunting, you know you'll either need a conveyancer, or need to know how to do your own conveyancing.