Selling house myself directly

kakalokia

Hi,

I've got my property on sale with two estate agents. My contracts with them is multi agency, and I can terminate the contracts free of charge.

The other day I got someone knocking on my door asking to view the property. So they didn't view the house through the estate agent, but rather directly (obviously by noticing the signs outside).

My question is if I terminate my contracts with the estate agents, am I allowed to sell the property directly myself to the buyer, given that he technically didn't go through the estate agent to view my property or make an offer through them, as everything is done directly. Will the estate agents pursue fees if they find that I sold the property directly after terminating their contracts?

Thanks

agrinnall

You're being disingenuous, the prospective buyer clearly did approach you because of what at least one of the agents has done. If you sell without paying the fees due the agent will find out and they will come after you for their money.

Cheeky_Monkey

kakalokia wrote: »

Hi,

I've got my property on sale with two estate agents. My contracts with them is multi agency, and I can terminate the contracts free of charge.

The other day I got someone knocking on my door asking to view the property. So they didn't view the house through the estate agent, but rather directly (obviously by noticing the signs outside).

My question is if I terminate my contracts with the estate agents, am I allowed to sell the property directly myself to the buyer, given that he technically didn't go through the estate agent to view my property or make an offer through them, as everything is done directly. Will the estate agents pursue fees if they find that I sold the property directly after terminating their contracts?

Thanks

The Agents will find out and IMO, they will come after you for their fees because, as you point out, the potential buyer only knew that your house was for sale because of the Agent's boards outside.

ReadingTim

kakalokia wrote: »

The other day I got someone knocking on my door asking to view the property. So they didn't view the house through the estate agent, but rather directly (obviously by noticing the signs outside).

The EA will argue that their signs facilitated the introduction of buyer to seller, which is what you employed them to do. As a result, they should be paid for their work.

Your sale, like any sale, is a private transaction between buyer and seller (or their legal representatives) - the EA is employed to bring the 2 parties together in the first place!

kakalokia

Not being disingenuous at all. Just wanted to check what the rules are and making sure I do the right thing.

kakalokia

Thanks for the replies. Just wanted to know if it was an allowed option, hence why I asked. I had a feeling it wasn't allowed because of the signs bit, but wanted to double check,

Thanks.

theartfullodger

You CAN sell directly: I'd be surprised if your agreements with agents permitted that.


But, even so, if you did I'm v confident agents will be entitled to their commission.



Would you be happy with, say, your probable buyer to sticking to his signed agreement - eg paying you less than agreed? i.e. behave as you suggest you might?

SmashedAvacado

The "rules" depend entirely on what you have agreed with the agents you have engaged. Without seeing what you have agreed, you can't be given any reliable advice here.

If your agreement allows you to sell yourself, and if you want to cover your position you could ask each EA to provide you with the names (only) of who they consider that they have introduced to the property to avoid any potential conflict between agents or otherwise.

SmashedAvacado

theartfullodger wrote: »

Would you be happy with, say, your probable buyer to sticking to his signed agreement - eg paying you less than agreed? i.e. behave as you suggest you might?

I am not sure you are comparing apples with apples here.
If they have a signed agreement, then they can't do this.
If they don't have an agreement that prevents them from doing this then they can do this.
If a buyer signs an agreement with them, then they are bound by the agreement and can't just pay less than agreed.

davidmcn

SmashedAvacado wrote: »

I am not sure you are comparing apples with apples here.
If they have a signed agreement, then they can't do this.
If they don't have an agreement that prevents them from doing this then they can do this.
If a buyer signs an agreement with them, then they are bound by the agreement and can't just pay less than agreed.

Quite - there's no legal issue with gazundering.
The estate agents however are almost certainly legally covered for this scenario in their contracts (and yes, they will check whether the property mysteriously changes hands shortly after their contract ends).