Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Announcement

Collapse
No announcement yet.

fees for pulling out of house sale

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • fees for pulling out of house sale

    Hi, ive not posted anything on a forum before but im looking for some advice if anybody thinks they can help me please.
    We have recently had to pull out of our house sale (before contracts were exchanged) because we were struggling financially because of the money we had to have to fix some major things in the house for the mortgage company of the woman that was buying it to release the money to her! We feel really bad for her ans guilty but theres nothing else we could have done!
    The thing is our estate agent says to take it off the market and to pull out of the sale , its going to cost us their whole fee which is £1440!
    Does this seem right? Especially as we have done it before the contracts were exchanged?
    Another thing also is that when we first put our house on the market about 2years ago, it was on the market with a company for about 4 months (which we signed a contract for) then got taken over by another company and changed its name but we were never given anything else to sign! Does this mean we never signed anything?
    Sorry for the warbling on, any advice much appreciated!
    Rach

  • #2
    Re: fees for pulling out of house sale

    Hi Rach,

    As estate agents dealing with property sales in part of our everyday job. Unfortuamtley from time to time sales do fall through (its part of the business).

    I cant speak for another company but our fee only becomes liable once contracts have been exchanged.

    You can pull out at anytime up to exchange and not incur a fee. This is typical of most reputable estate agents.

    The best thing i suggest is dig out your paper work when you signed your agreement as by law they need to list fees chargeable.

    If the company changed through the sale they should of written to you either to confirm the original agency agreement is in place or that a new one is in place and a copy is forwarded to you.

    If you are still unsure and cannot find any paperwork, I suggest asking the estate agency for a copy of the agreement you have signed with them detailing fees.

    Hope that helps. Good luck!
    Jacks and Jones Estate Agents
    http://www.jacksandjones.co.uk

    Comment


    • #3
      Re: fees for pulling out of house sale

      Thanks so much for youre reply!
      We have just been reading through what we have from the estate agents and all we have is what we signed in 2013 (the contract thats under there old name)
      They never gave us anything or told us anything about the company being taken over or a new contract to sign and nothing states a list of fees , just says fixed fee £1200plus VAT !
      Also says under Conditions "the seller agrees to instruct the agent on the basis of a sole agency. Should the property be withdrawn there will be a charge of one hundred pounds plus VAT at the prevailing rate!
      Do you think we should seek legal advice, ? £1400 is a lot of money that we dont have and they want it payed by the 28th Feb!
      Thanks again
      Rach

      Comment


      • #4
        Re: fees for pulling out of house sale

        Hi Rach,

        You must remember i am not an legal beagle just an estate agent

        However i would say if you have not signed a new agreement than how can they charge you an amount you never agreed to?

        I would suggest you have 2 options.

        1. Write them a letter and send them a copy with your signed agreement showing it is £100 plus vat and a cheque for £120 and say this is what you have signed and this is what you will pay unless they can prove you have signed or agreed to anything else. (this should make the matter disappear, even going to court i would think it would be found in your favor).

        2. Write to them and explain you never signed an agreement with them and as such all contracts are null and void (this option is a little more aggressive but may save you the £120).

        Important thing is, do not ignore it as they may well start legal proceedings and you will be seen as avoiding as opposed to disputing.

        Good luck , let us know how you get on!
        Jacks and Jones Estate Agents
        http://www.jacksandjones.co.uk

        Comment


        • #5
          Re: fees for pulling out of house sale

          Thank you so much , you have been most helpful , I sent them an email earlier asking if they could explain to me , why we had to pay full fees before contracts were exchanged!
          I will see if I get a reply and what happens next.
          Failing that I will try your options .
          Thanks so much again.
          I will let you know how I get on
          Rach

          Comment


          • #6
            Re: fees for pulling out of house sale

            you can consult to any real estate agent

            Comment


            • #7
              Re: fees for pulling out of house sale

              Can't advise on the fee's they are requesting but with regards to the name change, in a lot of situations, when a company buys or takes control of another, all existing agreements remain the same unless otherwise stated.

              Therefore on this assumption, you should only be liable for what you originally signed for as they have effectively taken over that contract as part of the buyout / transfer.

              To keep it from getting too messy, I'd agree with J&J's suggestion of sending a letter and cheque for £120 as per your original agreement.

              It may also be worth doing some local research on local forums to see if they have a habit of this or trying bully tactics to get more than they are owed.

              Comment


              • #8
                Re: fees for pulling out of house sale

                Thank you john3322 and barney, I am still awaiting a reply from the email I sent them!

                Comment


                • #9
                  Re: fees for pulling out of house sale

                  I have received 1 email back yesterday saying that they were meeting with the managing director yesterday about this matter and they would be intouch as soon as possible!

                  Comment


                  • #10
                    Re: fees for pulling out of house sale

                    Originally posted by rachybabe View Post
                    I have received 1 email back yesterday saying that they were meeting with the managing director yesterday about this matter and they would be intouch as soon as possible!
                    Depending on your confidence and you have all details of the situation, it may be worth waiting to see how they reply but then say you'd like to deal with MD yourself and would like him to contact you about it as you're not happy with the service and details you've been given.

                    Obviously if they turn round and say it's all their mistake and they apologise, etc, then the above won't be required and you could then thank them for their service (not they've been much use from the sounds of it!)

                    Comment


                    • #11
                      Re: fees for pulling out of house sale

                      Hi Barny,
                      No they haven't been very good throughout! I once had to ring them 13 times to ask them to come and take a new photo of outside of our house , because we had a new front door fitted! Would defo not recommend them to anyone ,or use them again.
                      I'm getting quite annoyed now that they are taking so long in replying , they are useless!
                      We go on holiday tomorrow night and they know we do, thing is the date it needs to be paid is while we are away , so we don't know what to do !
                      Let's just hope we get a response today's!
                      Rach

                      Comment


                      • #12
                        Re: fees for pulling out of house sale

                        Hi all,
                        The managing director has just rang my husband and said we do not need to pay a penny now as we had an old contract ! If we had signed a new contract , we would have had to pay it all!
                        Thank you everyone for your help!
                        We are very happy , just in time for our holiday now.
                        thanks again.
                        Rach

                        Comment


                        • #13
                          Re: fees for pulling out of house sale

                          Great result for you. Also good of the MD to call himself, he probably knows the people in your local office are at fault and possibly not up to date with process...or, they were trying to pull a fast one and make some money!

                          Glad you have closure though, good luck with your next step!

                          Comment


                          • #14
                            Re: fees for pulling out of house sale

                            HI Rach,

                            Just picked up this thread,

                            Well done, great news!

                            Now you can go on holiday and enjoy it and not worry.

                            Good luck in moving when the time is right .......... maybe avoid the last guys
                            Jacks and Jones Estate Agents
                            http://www.jacksandjones.co.uk

                            Comment

                            Working...
                            X