Can I cancel contract with estate agent before house goes on the market?

SueF1

I've signed the contract to put my property on the market with Your Move today but a friend of a friend has said they are very interested in buying it. The photos have not been taken and the property is not on the market yet, am I able to cancel the agreement? Is there a cooling off period like other contracts etc?

Thank you for any advice.

Flugelhorn

what does the contract say about cooling off? 

Adly812

Normally they give you a 14 day cooling off period and don’t start advertising until this time lapses. Read the section that has Right to Cancel in the contract.
also word of advice- estate agents are sharks.. be very very careful to read every fine print and TOB , be 100% happy before you sign anything. 

From my experience I write the contract and make them sign what we’ve agreed. They’re ruthless 

kasqueak

Check the contract but normally you have a 14 day cooling off period where you can cancel with no charge. I had that when I sold my place recently. 

eddddy

If you signed the contract away from their business premises, you generally get a 14 day cooling off period. But you have to cover any costs they've incurred.

However, is it a 'sole agency' contract? If so, no fee should be payable to the EA if you find your own buyer - read the contract to check (which you should have done before you signed it!).

If it's a standard 'sole agency' contract, you can tell the EA that a 'friend of a friend' is already interested.(But bear in mind that  'friends of friends' often say things like 'I'm very interested in buying your house' on a bit of a whim, and nothing comes of it.)

staffie1

I wish people would read contracts before signing them !

SueF1

staffie1 said:

I wish people would read contracts before signing them !

I wish people could give friendly, non- judgmental advice when they're being asked for help and don't know the person or their circumstances but we can't have everything.

Thank you all for your help, some really useful information there which has really helped me 👍

rik111

SueF1 said:

staffie1 said:

I wish people would read contracts before signing them !

I wish people could give friendly, non- judgmental advice when they're being asked for help and don't know the person or their circumstances but we can't have everything.

Thank you all for your help, some really useful information there which has really helped me 👍

I can’t understand why people are incapable of reading what the contract in their possession says but instead ask random strangers to guess what it says 🤪

SueF1

rik111 said:

SueF1 said:

staffie1 said:

I wish people would read contracts before signing them !

I wish people could give friendly, non- judgmental advice when they're being asked for help and don't know the person or their circumstances but we can't have everything.

Thank you all for your help, some really useful information there which has really helped me 👍

I can’t understand why people are incapable of reading what the contract in their possession says but instead ask random strangers to guess what it says 🤪

Again, see my previous post 😊

Greatgimp

If the friend of a friend does buy it, perhaps it shouldn't be for the exact amount the estate agent 'valued' it at.

Grumpy_chap

How interested is the "friend of a friend"?  And, if they are interested, is there value in them still coming via the EA that you selected?  If this "friend of a friend" has seen your property and is "proceedable" then it may be worth going ahead with them and (if the contract allows it) not starting advertising with the EA.  If it is just a "friend of a friend" that is thinking of looking for an X bedroom property in the same general area sometime in the next period whenever, then this offers you nothing and, in the mean-time, you are not making progress to sell via any other process.