Actions within the cancellation period with an estate agent

Kadzone

Hello,

We're just outside our 12 week minimum period in a 'sole agency' contract with our estate agents (no sale no fee), and I've just given them notice of our wish to cancel the contract (even though we are now outside the 12 week minimum period, there is a still a 30 day cancellation period).

Reasons for cancelling - recommended setting an asking price that we now know was way too high (rookie error on our part for believing them), and from the moment the property was advertised we have struggled to get any kind of an update or response from the estate agent (which they have since admitted was a wrongdoing on their part) - we were told we'd get weekly updates etc etc.....but had nothing, even though I chased via email and telephone call regularly.

We reduced the price at week 4 of being advertised, as per their suggestion (this was the one and only time I've ever been able to get hold of them!). Then even after promises of weekly contact we had the same issues from week 4 to week 12 - couldn't get any response from them.

Only contact was to arrange a viewing in week 11 of our contract and even that was a shambles from the estate agent side.

We give our 30 day cancellation notice after the 12 week period and suddenly there is a barrage of calls and emails from them desperate to 'come and have a cuppa and a chat about what we can do to get the property sold quickly'. (They are aware that we resorted to taking out a bridging loan to use as a 'down payment' so we didn't lose the property we wanted to buy - and are now about to complete on).

My query is, if we find our own buyer (be that a private buyer or one of those companies that buys to let etc), can the estate agent still contact us to arrange viewings during the cancellation period (they will continue to market it during the cancellation period), and if so do we have to go ahead with viewings, and if someone makes an offer way below the asking price (bare in mind the asking price was set as per the estate agents recommendations) and we don't accept it, do we then become liable to pay their fees?

Also, if now we are in the cancellation period if the estate agent starts recommending we reduce the price again, can we say no without incurring any fees?

eddddy

Kadzone said:


My query is, if we find our own buyer (be that a private buyer or one of those companies that buys to let etc)...

You say you have a "sole agency agreement" - which means that if a buyer is introduced by "an agent" before the cancellation period ends, you have to pay your current agent their fee.

• So if you find a "private buyer" without using an agent - you're probably ok. If you use an agent, you're not.

• I'm not sure what you mean by "those companies that buys to let" - but you need to make sure they can't be described as "agents".  (For example, many of the "we buy any house" companies are really just agents.)
  

Kadzone said:

My query is, if we find our own buyer (be that a private buyer or one of those companies that buys to let etc), can the estate agent still contact us to arrange viewings during the cancellation period (they will continue to market it during the cancellation period), and if so do we have to go ahead with viewings, and if someone makes an offer way below the asking price (bare in mind the asking price was set as per the estate agents recommendations) and we don't accept it, do we then become liable to pay their fees?

Presumably, you have no problem with the agent arranging viewings during the cancellation period - as it might result in a sale.

I've read dozens of estate agents contracts - and I've never seen one which says a fee is payable if you reject a "below asking price offer". But I guess you should read your contract, just to make sure.

Having said that, I've never seen an estate agent's contract that says you have to accept viewings. And, for example, if you said to the estate agent "We don't want to sell any more, and if you send anyone for viewings we'll tell them that" - the estate agent would have to be insane to arrange any more viewings.