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repercussions of selling privately to an introduced buyer

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  • repercussions of selling privately to an introduced buyer

    MY flat has been on the market with an agent for a month and they have not accompanied one viewing and I have to call them for viewing feedback.

    Admittedly there have been several viewings but a buyer has viewed and has asked me if I will sell to them privately for a very good price.

    I will take my flat off of the market and in two weeks potentially set the ball in motion to sell privately.

    I am aware of the clause in my sole agency contract about fees to be paid to a purchaser introduced by them but what can the agent do?

    How will they know if it was sold privately?

    What sort of repercussions will there be or will I be okay?

    Any comments, experience greatly appreciated.

    Thanks

  • #2
    If contributions on another forum are to be believed, they'll check the Land Registry for completed sales of properties that were on their books, check to see if the current owner was someone they introduced or was introduced during the term of the contract (£3 gets you or them the name of the current title holder), and if they find you did sell it to someone in this category, they may well chase you for their fee.

    If their contract says that you're due them a fee if you sell to a buyer introduced by them, or during the term of the contract, then by signing it, you agreed to pay them a fee in this circumstance.

    What you seem to be saying is that you're going to breach your contract with them in order to avoid paying their fee. Am I getting warm?

    It would help if we knew the wording on your contract.

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    • #3
      The question is...who is this benefitting, you or the buyer?
      If they have offered you a good price, then surely it makes sense to just pay the agent, thus avoiding any legal repercussions in the future. I'm no fan of agents, but they did introduce the buyer.
      www.ownerhome.co.uk
      commission free property sales and lettings

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      • #4
        I can't see why the buyer would insist on a private sale?

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