With an Agent but found my own buyer

ThisIsWeird

Then only 'valid' reason I can think of is that the buyer hopes for a reduction, say a 50:50 split with you on the saving from not going through an EA. Every other reason sounds dodgy - like the buyer has a reputation amongst EAs in the locality.

It does sound as tho' you are effectively tied-in to the EA, so I'd strongly suggest you inform the buyer now - just make it clear your hands are tied, and that the EA will - as they likely will - chase you for the fee.

It should become very clear what the buyer is about. But they have no valid excuse that I can see - you are the only one who will still lose out on the fee regardless, but also lose the service that a good EA can provide.

Once the EA knows what's going on, which likely won't take long, if this buyer then pulls out, expect short-shrift from this - and other local - EAs from now on.

anselld

If she has such little regard to dealing with her own property, ie the deposit, then you have to wonder how she treated the Landlord's property.  It seems likely the deductions would have been justified.

Herzlos

How did the cash buyer find out about the property? If there's any vague link to the listing then it may be hard to claim it had nothing to do with the estate agent, even if the contact didn't come from there.

How much are the EA fees?

housebuyer143

I had a "cash buyer" who wanted to instruct solicitors right away but wouldn't go through the agent and I thought it felt incredible dodgy. 
There is no reason he can't use the agent, it doesn't cost him anything and they will vet him correctly. Alarm bells ring when they want to bypass an agent for no obvious reason.

eddddy

fazrewards said:

Where no other agent is involved, such exchange or completion takes place to any buyer introduced or not introduced by the agent, within 6monthsafter such expiry

I suspect that you have misunderstood the contract - and missed out some key paragraphs in the part of the contract you posted.

(And does the para above definitely say 6 months and not 2 years?)

(Also, there are some dodgy answers in this thread - so be careful about taking notice of them all.)



If you read the 'missed out' paragraphs, I suspect they will clarify that...

• If a buyer is introduced during the 'Sole Selling Rights' contract period (whether they were introduced by the estate agent or anyone else) - you will have to pay the estate agent commission, if that specific buyer goes on to buy the property within 6 months (or 2 years in some circumstances) of the 'Sole Selling Rights' contract period expiring.

So the key question would be "Was your buyer introduced during the estate agent's 'Sole Selling Rights' contract period?"

For example,

• Did the buyer view the property during that period? or 

• Did you have a detailed discussion by email/phone with the buyer about the property during that period?

For these reasons, the estate agent is likely to grill you on the specific date the buyer was introduced. So maybe you want to get your evidence ready.


Also, a very important question.. Is the estate agent a member of The Property Ombudsman Scheme? (Most are.)

propertyrental

eddddy said:

fazrewards said:

Where no other agent is involved, such exchange or completion takes place to any buyer introduced or not introduced by the agent, within 6monthsafter such expiry

I suspect that you have misunderstood the contract - and missed out some key paragraphs in the part of the contract you posted.

(And does the para above definitely say 6 months and not 2 years?)

(Also, there are some dodgy answers in this thread - so be careful about taking notice of them all.)



If you read the 'missed out' paragraphs, I suspect they will clarify that...

• If a buyer is introduced during the 'Sole Selling Rights' contract period (whether they were introduced by the estate agent or anyone else) - you will have to pay the estate agent commission, if that specific buyer goes on to buy the property within 6 months (or 2 years in some circumstances) of the 'Sole Selling Rights' contract period expiring.

So the key question would be "Was your buyer introduced during the estate agent's 'Sole Selling Rights' contract period?"

For example,

• Did the buyer view the property during that period? or 

• Did you have a detailed discussion by email/phone with the buyer about the property during that period?

For these reasons, the estate agent is likely to grill you on the specific date the buyer was introduced. So maybe you want to get your evidence ready.


Also, a very important question.. Is the estate agent a member of The Property Ombudsman Scheme? (Most are.)

I suspect you may also have misunderstood 

 it suggests that term of contract is 2 months agreed for marketing

In nearly all cases, estate agents' contracts are for a minimum period (in this case 2 months) but then continue until one of the parties (usually the home-owner) serves notice.

If you have not served notice, then the contract is likely still on-going. And if it is a 'sole selling rights' contract then any sale that starts now and completes within 6 months (or 2 years?) will result in a fee being due.

Albermarle

housebuyer143 said:

I had a "cash buyer" who wanted to instruct solicitors right away but wouldn't go through the agent and I thought it felt incredible dodgy. 
There is no reason he can't use the agent, it doesn't cost him anything and they will vet him correctly. Alarm bells ring when they want to bypass an agent for no obvious reason.

As above.

Tell the 'cash buyer' there is no money to be saved by not going through the agent, so you would like them to go via the agent.
If they refuse or threaten to pull out, then you will then know there is something dodgy going on, especially if they get a bit aggressive.