AIBU to continue running away from this house purchase?

[Quandaries]

Follow-up to www.mumsnet.com/Talk/am_i_being_unreasonable/4041606-AIBU-to-walk-away-from-this-house-purchase

Don’t even know where to start.

I’m a little worried that what I’ve posted so far makes me recognisable but what I’m going to post makes the sellers from hell recognisable so I’m not sure of the best way to go about it.

Do you have any friends who can view the house, make an offer then mess them around

You've dodged a bullet. If they're convinced their house is worth 75k more, then the odds are you'd be getting another sneaky demand for money just before you're about to exchange. I'd go along with the EA and help them sue the idiots.

Move on, even if you did buy it, on moving day who knows what you’d find left or not left for you. I know what a nightmare it is once completion has taken place to get any recourse with the previous owners.

20 + years ago this type of thing was rife. Loads of stories here of manipulation.

Sometimes the EA were decent, some were absolute gangsters.

I can well believe the OP.

What an interesting turn of events. They're a bunch of dicks. A small piece of karma would be them having to pay him, a solicitor to defend them and the hassle of it all.

I wish we could have a link and then everyone will know the house and people who know them will be amazed!

Supply the EACeith as much info as you feel comfortable parting with, then walk away.

As I said on the last thread, it's pretty standard to have a clause in the EA's contract saying the vendor is still liable for the EA's feevif they sell privately during the period of the contract or within a certain time frame after the contract ends (usually 6 weeks). 1 percent of 800K is 8K - funnily enough, the amount extra they were trying to screw out of you.

Surely it's in the EA contract that they get a percentage of the sale. Also, if he sues and gets a statement from you, make sure you recover the costs you spent.

the EA treated you pretty shabbily as well OP, but follow your gut, in this decision. Good luck

The agent is due some money as the seller screwed around having accepted the offer. However, they did not get to exchange, so I doubt he will get everything he is looking for.

@pinkandstripey

From a legal POV, I'd be surprised if the EA could pursue lost commission, as house sales collapse all the time at all stages.

But doesn't the EA own the photos?

I would give them a statement, and then move on with your life.

The right to commission usually depends on delivering a purchaser who is ready, willing and able to proceed to exchange of contracts and completion, which this estate agent has done. There will usually be clauses in the contract to protect a vendor for whom the sale falls through through no fault on their part, e.g. if a chain collapses, but it sounds as if this EA has a decent shot at being able to claim commission.

Personally I'd help the estate agent. It feels like the right thing to do, won't cost you anything other than a bit of time and it's not as though the seller doesn't at least deserve some hassle.

Also, you may want the agent to put in a good work for you with other sellers.

Sadly, you have zero chance of getting your wasted costs from the seller.

Hope you find something else you want to buy soon.

Just coming to follow this!

I’d probably help the EA out. As a bonus, it would be a way of satisfying my disgust at the way I’d been treated.

I can't remember the exact contract terminology, but there's usually a clause in the contract between EA and seller that the seller is liable for a fee if the estate agent provides a 'reasonable buyer' - but the seller refuses on unreasonable grounds and/or withdraws from the market.

My old estate agent told me this has been common practice for years. Saves them from time wasters who only want to go on the market to see what their house is worth and what offers they could actually get without following through with a sale.

'Ready, Willing and Able' clause!

The EA’s ts&cs would normally contain clauses tying the vendor to them for a certain period even if the property is withdrawn from the market or if they wish to change EA. These clauses will also contain the demand for a % commission from the sale of the property during this time period even if the EA did not introduce the purchaser. The cheeky fing vendors will not have rights to the photos etc either.... I would think the EA can certainly pursue them for something and I think after all your previous chat re morals you should provide them with the pretty simple statement they requested.

I'd help the EA, sounds like you have both been played.

So not only are they trying to avoid paying commission, probably breaching the contract they signed with the EA ( and steal their photos) but they are trying to sell their inherited house for even more money.

Greedy fuckers

BTW: I'm presuming that the values and percentages that that you've posted are indicative only and as such can't be used to identify any particular property England is a big place

I'd definitely provide a statement to the EA. It's no skin off your nose.

I hope you help the EA so that at least someone gets something out of this mess.

The EA wants to pursue them for his commission on the grounds that he delivered them a legitimate buyer.

He’s got no chance. When a vendor signs a contract with an estate agent, they grant them a period of exclusivity - usually three months. The vendor can legitimately take the house off the market an hour after signing the contract if they choose, but they can’t put it on with someone else until the exclusivity period ends. This is to prevent vendors doing exactly what people are suggesting these vendors have done; i.e. cutting the agent out of the loop to avoid commission.

What no vendor would agree to is a contact where they have to sell to a ‘legitimate buyer’. Otherwise, the estate agent effectively would be setting the price for the vendor. What if a ‘legitimate buyer’ offers £10k, £20k, £30k below the asking price? Does the vendor have to accept? Of course not.

If the vendor has sold privately during the exclusivity period, the estate agent could have a case. If it’s just a case of ‘I found them a buyer but they didn’t accept the offer’, it’s tough luck for the EA. No one is obliged to sell their property.

This is mad. So the sellers possibly deliberately sabotaged the sale with you with a fictional NB so they could re list for more?!?

I'd do the letter. It doesn't need to be long just a statement of facts. You had completed pre-purchase work, had mortgage ready to draw down, solicitor was trying to arrange contracts and vendor comes in with a third party to raise the price. You offer 250 less than that offer on the grounds you can proceed immediately and vendor disappeared. Your offer is now withdrawn and deposit returned.

I'd give the EA the information they want and leave them to it!

I know I have no way of recouping my costs. I’ve just had to suck that up and write it off.

While I do want to help the EA and don’t mind writing a factual account of what happened, I just don’t think I have the energy to get involved in what could potentially become a court case. If I had to sit in the same room as these people (people I’ve never actually met!) and give evidence against them- well, I just don’t think I could.
I’m sure stuff like this doesn’t get to court, but I just don’t know.

I don’t know what contract the EA had in place with the sellers. The EA is part of a national group so I’d imagine they have a large legal team that deals with such issues regularly enough.
There was no formal communication between the two solicitors- just calls and emails from mine chasing theirs for contracts.

The EA has processed the refund of my booking deposit. It’s coming up as a pending transaction on my online banking so should clear into my account tomorrow.

I like the EA but won’t be looking for another property in the same area.

I’ve seen pop-up ads lately for a two-tiered Cadbury’s selection box but I haven’t seen them in shops or online. If anyone sees one, please let me know. I have £800k burning a hole in my pocket.

So the sellers possibly deliberately sabotaged the sale with you with a fictional NB so they could re list for more?!?

You would think that at least they would have had the sense to wait for a few weeks - except the market might collapse in that time.