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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Do I pay EA fees if I pull out of house sale?

57 replies

FatG · 26/09/2024 11:21

I’m selling a jointly owned house and plan to go with an estate agent to photograph and market the property and to conduct viewings. Have never used an EA to sell before so don’t know about their fees and if they all usually work in the same way. If they find a willing buyer and get an offer (maybe a few), do we have to accept it and pay the fee? I appreciate that the agents will have put in some hard work to advertise it and liaise with potential buyers to get to that point. I understand that the sale can be stopped at any point before exchange and I would not even consider pulling out at all after buyers have spent any money on surveys etc. Are EA fees payable only on completion?
YABU-EA fees are payable even if you pull out of the sale.
YANBU-It’s your house and if you don’t like the buyers they find you shouldn’t have to sell it or pay the EA fees.

OP posts:
Staunchlystarling · 26/09/2024 14:41

Op you just need to play fair. Get 3 valuations. Pick the middle and prepare to sell. If she wants higher, put it on for that price, if no one visits she’s wrong and the price will need to drop. If it sells, then you need to prepare to move.

FinallyHere · 26/09/2024 14:50

just not sure when I’m liable for fees.

You will have a contract with the estate agent. The terms and conditions will be set out in that. I encourage you to read terms and conditions before signing.

If there is anything you do not understand, the thing to do is to ask the agent direct.

People on MN can share their experience which might differ from your situation in relevant points.

Generally, do not enter into agreements without understanding the terms and conditions. In house buying as in life.

OnePeachCrow · 26/09/2024 15:34

If you put the property on with an estate agent and they get you an offer for the asking price which you reject because you want to buy the property, then yoiu will be liable for their whole fee.

WiserOlderElf · 26/09/2024 15:35

OnePeachCrow · 26/09/2024 15:34

If you put the property on with an estate agent and they get you an offer for the asking price which you reject because you want to buy the property, then yoiu will be liable for their whole fee.

Edited

It will entirely depend on what is in the contract with the estate agent.

insomniacalways · 26/09/2024 15:57

We got three valuations when I bought my ex out. If you sell to someone else you lose 1% in fees to the estate agent, solicitors fees, and stamp duty for you both to buy somewhere else not to mention two chains. It is trickier when you aren't married as there isn't a proper legal framework for negotiating as I found out with my ex-partner. We got three quotes from estate agents - be open about the reason for the quotes, There was 100K difference we split the difference. Once we had an agreement in place a conveyancing solicitor did the paperwork for about 1K to transfer the property and mortgage to my name only.

schloss · 26/09/2024 16:39

OnePeachCrow · 26/09/2024 15:34

If you put the property on with an estate agent and they get you an offer for the asking price which you reject because you want to buy the property, then yoiu will be liable for their whole fee.

Edited

Not 100% correct - it will depend on the contract agreed.

@FatG EA fees and contract clauses are to a certain extent up for discussion. I am sure EA will have seen similar situations before with couples splitting up. Taking the photos and marketing properties for no fees is the cost of doing business for an EA, the other side is a house can be sold before any marketing or photos are taken but the EA still get their full fees, so quid pro quo. So I wouldn't be too worried about wasting their time.

As others have said, if the property gets an offer for the higher price then decisions can be made, if someone else is willing to pay a higher price then it must follow if you buy out your partner it should be at the same price. A higher price achieved may lead to a decision the house is sold - fresh start for all maybe?

EdgeOfSixty · 26/09/2024 17:45

Check the contract length. Some big chains have contracts of 20 weeks so you would be stuck with them even if they are useless.
I would be looking for a 6 week contract to give flexibility.

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