Just agreed to sell house

BulldogFred

Hi, i reluctantly accepted an offer on the house yesterday. I really wish I hadn't, if i change my mind am i likely to incur charges from the Estate Agent?


Thanks

bigisi

We can't read your contract from here but most likely, yes.

Bit of a cr ap thing to do to your buyers as well!

Monkeysocks42

bigisi wrote: »

We can't read your contract from here but most likely, yes.

Bit of a cr ap thing to do to your buyers as well!

You are right, we can't see the contract but this actually most likely no rather than yes. Most high street estate agents fee only becomes payable on legal completion.

If an offer was only just accepted whilst it will be disappointing for your buyers but they will at least have not spent any money yet. Your agent, on the other hand, has probably spent a fair amount of money preparing details and marketing your property so it generally is best to actually decide you do want to move before going on the market!

Davesnave

We can't see your contract with the agent , but that's not the greatest issue.


What do you mean 'if I change my mind?' especially when it comes after the statement that you wish you'd not started the sale process? It sounds as if you already have.

You're not committed to anything at the moment, but for goodness sake, if you now consider selling was a mistake, inform your EA, the buyer and your solicitor very soon.



We all make mistakes, but admitting to them and trying to minimise the fall-out is a decent way to go and people will judge less harshly if you do.

Miiade

Op you will not incur any charges for turning down an offer after accepting it yesterday.

If you withdraw your house from the market you may incur fees depends what your contract says.

need_an_answer

For any particular reason have you had second thoughts?

Don't want to sell,or don't want the to sell at the price you have said yes to?

you need to be sure why you are having doubts and take it from there...pulling your house from the EA will probably mean you break the contract and will be liable for fees...but if its a case of momentarily having cold feet about an aspect of the sale you may be able to overcome that and move forward!

BulldogFred

I know its a poor form, and I've been agonising over it all night. I did intend to sell it but the more i think it over the more financially it doesn't make sense.

The paper i signed to market the house stated: You will be liable to pay remuneration to us, in addition to any other costs or charges agreed, should the vendor withdraw the property from sale, for whatever reason, following an agreed sale in principle to a willing purchaser introduced by ourselves.
I wondered if there could be some kind of cooling off period?

foxy-stoat

Assuming you are not in scotland, no one is committed to buy it until exchange of contracts happens. Your buyer will be committing their own money from now on, on solicitor fees and surveys - so let them now that you are rejecting the offer.

Inform the estate agent to either continue to market or pull it - doubt you will be charged but read your contract if you havent already.

foxy-stoat

So do you have a sale in principle without surveys or searches and proof of funds ? I would not think so based on what you have said.

need_an_answer

So its about not selling the house and not moving ...then yes if you withdraw your house from the agent you will incur whatever penalty is detailed in the contract you signed with them

BulldogFred

They EA phoned me with an offer and I accepted it. They said they'd start doing the paperwork. I'd like to change my mind and keep it, but if I've fees to pay that may not be possible.