That Estate Agents have no real loyalty?

[chatenoire]

I'm trying to sell a property and no matter what, the EA is doing voodoo maths to get me to accept an offer.

I had an initial offer (which I rejected) and counter offered for £10k on top. The buyer isn't moving, so I told the EA that there was no deal.

I've been clear to the EA that it's not that I want the full amount of the counter offer, but that I should see some "good will" from the buyer (so even a gesture of £2k would be enough).

Then the EA came back saying that the slow months are coming and she wouldn't be able to sell it and that her contract would expire.. then I said "maybe then try harder?"

BTW my counter offer is what she valued the house on.

I'm in no rush to sell. It's an inheritance from my uncle, so my mother obviously has an opinion and I don't want to end up fighting with her either.

Can they not offer 10% of the price towards furniture, fixtures and fittings (that is what we do here - also not in the UK)

No, they were definitely voodoo maths as she was comparing apples to oranges.

I don't think so... The "strategy" is that they'll show a check to the conveyancer that will never be cashed. So the conveyancer will put that on file and take the cash instead, thus breaking the law.

So in effect you will not know anything about this part of the deal? I don't quite understand, unfortunately.

They'll tell me what they will be doing and I as an individual take it or leave it, but no lawyer would be representing me so to speak.

Why do you not have a lawyer? They should be advising how to move this forward. Each country has completely different ways of dealing with property sales, and it may be possible that this is a standard way of conducting the business.

That's not just how it's done there. My lawyer is on an advisory level, but no there's no conversation between lawyers, that's not just how it works.

That makes it more complicated, I guess. I assume you are not in Europe. Have you bought and sold in this country before? If you name the country, I am sure there must be someone on here who has experience in what is normally done.

Sounds very complicated.

However, whilst Estate Agents have to operate on a no-sale, no-fee basis, this is how it will be.

I live in the UK, the property is in LatAm. I haven't bought and sold there but my family has.

I've known our lawyer for 20+ years. He dealt with my uncle's will, etc.. and I do trust him. However my LatAm lawyer is shocked that I'm willing to pay taxes as a foreign national, but I have to, as I live, work, and own property in the UK.

Because I obviously don't want to get into trouble with HRMC I want everything to be super legal and clear from a fiscal POV.

Exactly, so if she wants her commission she has to make it legal (and ideally move it in price).

If the buyer refuses to make it 100% legal there's a small room for manoeuvring, but I would expect he'd move in price too, as I'm compromising on my end.

After all, my main ask is to make it legal :/

I suspect HMRC will just be happy you are notifying them of the sale and are willing to pay some tax on it. There will be a closing statement and costs for professional services. Just give that to them and that should be enough, surely.

There is a taxation agreement, so I won't have to pay taxes here. However, the country where the property is in, is on the "money laundering" list so I'm sure they'll audit the heck out of it.

This reality of this story is very far from your original post.

I was just mega annoyed with her (still am).

It's no even that complicated I want a 100% legal sale. That shouldn't have to be a "favour" or something that I have to negotiate to get.

It annoys me that she's using the argument that "the buyer is helping you to make it legal" and that's a reason to accept the lower price.

It just makes no sense to me.