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Appealing Estate Agent Fees
Comments
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The main question I am asking is IF we accept the lower figure and then get hit with an invoice from the EA of over £4K for their services, could we appeal it?
We are reluctantly willing to take the knock of 17k to not lose the purchase we are making.
your logic doesn't seem clear to me.
Your happy to take the hit on the price reduction,therefore you should pay the associated costs of the sale in accordance with the EA's invoice...they have sold your property at that point at a price you are "willing" to take.in S 38 T 2 F 50
out S 36 T 9 F 24 FF 4
2017-32 2018 -33 2019 -21 2020 -5 2021 -4 20220 -
The main question I am asking is IF we accept the lower figure and then get hit with an invoice from the EA of over £4K for their services, could we appeal it?
I don't see why you could, given that you will be in possession of the facts before deciding whether to accept the reduction.0 -
The main question I am asking is IF we accept the lower figure and then get hit with an invoice from the EA of over £4K for their services, could we appeal it?
We are reluctantly willing to take the knock of 17k to not lose the purchase we are making.
Unless that is written into the contract you signed, then no. Estate agents contracts contain no performance related clauses so you don't have a leg to stand on.
If you don't want to reduce your selling price, then don't, make it someone elses problem. But I don't understand the need to claim back from the agent, even if they agreed to a 50% reduction (which they won't), then you get £2k back from your £17k reduction, so you're still £15k out of pocket.
Hold firm on your price, it matters not what the valuation says. And check comparables for recent sales. And be prepared to stand your ground even it means waiting until the spring for a sale at your desired price.Signature on holiday for two weeks0 -
Still no.
Was going to suggest what Mutton Geoff has said - see if the EA will take a hit of a couple of grand. I also agree with the fact that they won't, but if you say you can't afford to drop the whole lot and don't say it's because you don't think they deserve it, you might have a very slim chance...2024 wins: *must start comping again!*0 -
^ This.
Ask the agent for a reduction in fees to keep the sale going, otherwise you will have to pull out.
FYI - Their lack of skill, care & diligence in badly qualifying this offer (under the terms of the 1979 EA Act) has left you in this position.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »
FYI - Their lack of skill, care & diligence in badly qualifying this offer (under the terms of the 1979 EA Act) has left you in this position.
One thinks that's another side to this story (that we''ll never know).0 -
Mutton_Geoff wrote: »Unless that is written into the contract you signed, then no. Estate agents contracts contain no performance related clauses so you don't have a leg to stand on.
If you don't want to reduce your selling price, then don't, make it someone elses problem. But I don't understand the need to claim back from the agent, even if they agreed to a 50% reduction (which they won't), then you get £2k back from your £17k reduction, so you're still £15k out of pocket.
Hold firm on your price, it matters not what the valuation says. And check comparables for recent sales. And be prepared to stand your ground even it means waiting until the spring for a sale at your desired price.
How? And it probably does matter what the valuation says TBH.0
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