{"id":96339,"date":"2018-08-20T13:53:19","date_gmt":"2018-08-20T06:53:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/do-i-need-to-pay-the-estate-agents-fees-if-i-pull-out-of-a-sale\/"},"modified":"2018-08-20T14:03:10","modified_gmt":"2018-08-20T07:03:10","slug":"do-i-need-to-pay-the-estate-agents-fees-if-i-pull-out-of-a-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/do-i-need-to-pay-the-estate-agents-fees-if-i-pull-out-of-a-sale\/","title":{"rendered":"Do I need to pay the estate agent's fees if I pull out of a sale?"},"content":{"rendered":"


\nWe haven\u2019t exchanged contracts yet, but the agent wants more than \u00a31,2000 in commission Q I have a three-bedroom semi which I own outright. My partner and I wanted to sell up and buy a bungalow because of my health and problems with stairs. We went with our local estate agent and luckily a buyer was found in the first week it went on the market which was in May 2017. We have had lots of problems trying to find a suitable bungalow. The properties that we showed an interest in turned out to have major problems such as drainage at the first bungalow, lack of building regulations at the second and possible foundation movement in the third. We discovered all this over the past 15 months and in that time we have had chains break below us. We are so tired and although we desperately wanted a bungalow we have decided to back out of selling our semi. At this instant we had a solid buyer but we couldn\u2019t face any more stress of looking for another bungalow. The estate agents have billed us \u00a3420 for advertising and photos, \u00a3420 as well as a commission fee of \u00a31,235 which is half of the commission we would have paid, because they say they had actually sold our house even although we had not exchanged contracts. Is this correct practice?SAA If you withdraw from a sale, it is normal to be charged to cover the costs \u2013 such as advertising \u2013 that an agent has already incurred. And it is also normal to have to pay some or all of the estate agent\u2019s commission but only if the contract you signed contained a \u201cready, willing and able purchaser\u201d clause. What this means is that you still have to pay the agent for finding a buyer even if your situation changes and you have to withdraw from the sale. If your contract didn\u2019t have such a clause, you shouldn\u2019t have to pay anything on top of the \u00a3420 fee for photos and advertising. Another clause to avoid in estate agency contracts is \u201csole selling rights\u201d which means that the agent is the only agent with the right to sell your home during the term of the contract but also that they will earn their commission even if you find a buyer yourself. This is not the case if your agent has sole agency which gives your agent the sole right to sell your home but does not make you pay commission if you find your own buyer. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Do I need to pay the estate agent’s fees if I pull out of a sale?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

We haven\u2019t exchanged contracts yet, but the agent wants more than \u00a31,2000 in commission Q...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-96339","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-p3R","jetpack-related-posts":[{"id":110823,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/garlick-avenue-bungalow-for-sale-for-16-5m\/","url_meta":{"origin":96339,"position":0},"title":"Garlick Avenue bungalow for sale for $16.5m","date":"September 17, 2019","format":false,"excerpt":"\r Nestled on the highest point of Garlick Avenue, the freehold property sits on a 9,221 sq ft elevated site, which enjoys a 27-metre frontage. 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