Quick property question

[Pferdestarke]

If a house is up with an estate agent and the vendor/buyer want to come to a private arrangement, is there anything legally binding with regards to selling through the Agent?

i.e. can we buy without going through them?

[ShadownINja]

You did sign something at the time of the valuation, didn't you?

[G'kar]

If you became aware of the house through the agent, then they have kind of done their job, and are owed the commission.

If you found it independantly (and that doesn't include seeing a board and knocking) then it may be different.

[Nolar Dog]

Pferdestarke said:

If a house is up with an estate agent and the vendor/buyer want to come to a private arrangement, is there anything legally binding with regards to selling through the Agent?

Almost always.

What did your contract stipulate regarding this?
You haven't read it or don't understand it do you?

[davidjpowell]

most contracts will state that agent has sole selling rights so you have to pay them, and also if agent introduces buyer then many contracts will leave vendor liable for fees, even if the property is no longer on the market with that agent.

[AlexKP]

swerni said:

No they have a contract with the estate agent.

it's a scummy tight arsed thing to do anyway

What is? Being an estate agent? Bit harsh... but probably fair...

[mark_davies]

Theres nothing to stop you doing that if you wish . I have done it plenty of times could easily go on a murder spree when it comes to slimy agents

[Pferdestarke]

Nolar Dog said:

Pferdestarke said:

If a house is up with an estate agent and the vendor/buyer want to come to a private arrangement, is there anything legally binding with regards to selling through the Agent?

Almost always.

What did your contract stipulate regarding this?
You haven't read it or don't understand it do you?

And you didn't read the original post did you! You condescending wker! I am not the seller and never said I was.

Anyway, thanks guys, you've answered what I thought anyway. My Uncle wants to put an offer in and doesn't think he'll be able to get it for under the stamp duty threshold and was looking for ways of negotiating with the vendor.

[Mandat]

If the vendor finds their own buyer (who was not introduced to teh vendor by the agent) then surely the vendor simply withdraws the property from the market and deals directly with the buyer, unless of course the agency agreement states that the vendor has to pay their fees even when they did not sell the property for them.

[scotal]

Pferdestarke said:

Nolar Dog said:

Pferdestarke said:

If a house is up with an estate agent and the vendor/buyer want to come to a private arrangement, is there anything legally binding with regards to selling through the Agent?

Almost always.

What did your contract stipulate regarding this?
You haven't read it or don't understand it do you?

And you didn't read the original post did you! You condescending wker! I am not the seller and never said I was.

Anyway, thanks guys, you've answered what I thought anyway. My Uncle wants to put an offer in and doesn't think he'll be able to get it for under the stamp duty threshold and was looking for ways of negotiating with the vendor.

How far over the threshold is it priced?

[NDA]

My understanding of these things is that once the vendor has signed up with an Estate Agent then ANY buyer that comes along (whether via the agent or not) will go through the agent and that vendor will have to pay the commission.

I think the notice you have to give the agent is one month.

How close is it to the stamp duty threshold?

[VX Foxy]

Just wait a month - then it'll be under the threshold

[Pferdestarke]

On at £195,000, keenly priced too. Same house up the street on at £205k

[rah1888]

NDA said:

My understanding of these things is that once the vendor has signed up with an Estate Agent then ANY buyer that comes along (whether via the agent or not) will go through the agent and that vendor will have to pay the commission.

I think the notice you have to give the agent is one month.

How close is it to the stamp duty threshold?

That would be the difference between

sole selling rights - the EA gets a fee wherever the buyer is interested from.

sole agency - the EA gets a fee if they are successful in introducing a purchaser.

[scotal]

Pferdestarke said:

On at £195,000, keenly priced too. Same house up the street on at £205k

Well either he goes in at the threshold and explains why, or he goes over the threshold and asks the vendor to pay the stamp. For Instance your dad pays £183,000 for the house of which £1,830 is sent to the taxman rather than the vendor. Vendor gets £181,170.