Withholding of agency fees due to missed completion date

saajan_12

rcast1989 said:

Hoenir said:

I'd be surprised if the Estate Agents guaranteed anything. The MOS simply included estimated dates that you suggested and the buyer agreed to. 

Sorry I should have added, the was a tenanted property , ot would have made no difference to us how long completion would have taken as the rental income would have cancelled out the mortgage fees.

We were instructed by the EA that the buyer required the property with vacant possession and fully vacated ( Including all furnishings) we were requested to meet the completion date, again completely unrealistic advice. 

If we are paying an ea to act in our best interest than advising us to vacate flat and remove tenant prior to exchange was ludicrous ( we know now ) and they should have to answer for it

You're not paying for advice, you're paying them to advertise, find a buyer and liaise thereafter. Advice is from your solicitor, so ask them if you thought you had a guaranteed completion date. 

What happened was completely normal and par for course, so there's nothing 'extra' in the mortgage or EA fees you have had to pay: 
- 5 months is within the normal timeline, though 6 weeks isn't unheard of (I bought a flat in zone 2 in just over a month, a friend's purchase elsewhere took 12 months). During this time, its normal for owner occupiers to expect the property to be vacant rather than spending money that may be wasted if the tenant refuses to leave. Advertising only to investors instead often results in a lower sale price due to the limited buyer pool. In that vacant period, you'd not only have mortgage costs, but also council tax, utility standing charges, on top of usual agent commission. 

So even if the agent guaranteed a completion date in the contract (they didn't), relying on that promise didn't cost you anything that wouldnt' have been incurred anyway. 

BarelySentientAI

swingaloo said:

Interestingly you had the same problem in 2019 when you were complaining about being promised a 'guaranteed' fast completion.

That was trying to claim from the solicitor rather than the estate agent I suppose.

rcast1989

swingaloo said:

Interestingly you had the same problem in 2019 when you were complaining about being promised a 'guaranteed' fast completion.

Didn't pay them either 

user1977

rcast1989 said:

Estate agents had an offer accepted on 15th march and guaranteed a completion date of Friday May 3rd, agreed with all parties and this was noted in the memorandum of sale. 

What form did this "guarantee" take, and if it was "agreed with all parties", which party was actually guaranteeing it? I presume you would have made your solicitor aware from the very start about your desired timescale and this "guarantee" - what was their response?

swingaloo

rcast1989 said:

swingaloo said:

Interestingly you had the same problem in 2019 when you were complaining about being promised a 'guaranteed' fast completion.

Didn't pay them either 

But also didn't learn that fast completion is not something that can be guaranteed.