Would you have to pay anything to the agent if you sold to a property co?

[CatAndHisKit]

My 3 month exclusivity contract ran out a wile ago (one agent) and I'm considering turning to one of the property buying co's (those who advertise and I alo had letters through box).
I know that if they saw the house online I'm supposed to still pay the agent fee for the intro, but they have no way of proving that with the established known companies like Goodmove, NationalResidential etc.

But I've never sold to these before and am worried that there is a catch/it's too good to be true, or that my agent can still claim something. I haven't actually contacted then yet but I may get a minimukmk I have in mind - want to make sure it's all above board and no hidden issues.

Also if anyone did sell this way, would love to hear, DM if you prefer.

minimum obvs - gah sorry for all the typos.

I would argue that, as they have not sold your property, and the exclusivity contract has ended you could take it off the market immediately. Tell them that’s what you have done and insist that it is removed from their listings and web site. When you are certain this has been done and there is no reasonable contract in existence (an agent having a hold over you when they are no longer instructed to sell the house is not a reasonable contract term) you can contact whom you please.

However any purchasing company obviously doesn’t offer the market price! They exist to make a profit. That’s the difference between market value and what you will be offered.

Bubbles, thank you.
Have you any idea how much is the discount they'd expect? The thing is, I'm happy to accept less than the -unrealistic- valuation which I actually questioned, as it's a very slow market and I justt won't get that anyway, so far I had an offer from an ivestor (or two - but this was att he start when I was hoping to get a private buyer) which was 6% under and I'd accept that now). We are talking around the national average price so it's quite a chunk.
But apart from the discount, I don't knw if there is any catch, i.e would they waork to your timescale or would they pressure you to move out, etc?

Property buying companies you are looking at about 20% off in a good market. Potentially a lot more if the market is slow. They also have form for offering you something you are just about happy to take and turning around at exchange and reducing the offer

6% under asking price was a good and probably realistic offer. Why didn’t you grab it? Can you contact them via the agent and see if they are still interested? You would have to pay the agent and possibly accept less - and you might have to grovel a bit! Bird in the hand etc.....

Bubbles, as I explained this was at the very start, literally first group of viewers. Most people wouldn't grab an offer 17K less than asking price at the very start. Agent was optimistic too and thought this was too low (a big chunk from an UK average priced house). I had several viewings in the pipeline, then some in January.
That person (investor for buy to let btw, that says it all) wasnt hugely keen either, he never chased it. If I were keen on a house I would come back with my offer after its been on for a month or two - they never did. It's been 4 months now and I'm sure they'd moved on!
I had come very close to an offer (3 viewings from someone) and someone still considering. None of them would offer asking nor do I expect it bt I wanted to make at least 5K on what I paid for it nearly 6 yrs ago (taking into account agents fees).

The thing is, I can sell it I'm sure if but need to be patient - normal in this area to have it about 4-5 months on the market as it's above average price for the town due to the size of house and no off road parking, but I can't really wait any longer.

lastqueen, wel lthat's what I thought so I ddn't go that route so far, but the one who just dropped the letter off, mentioned they are looking for the particular price range and that's higher than the only offer I got through agent - I'd be very pleased with that. Seems like they are being very specific but possiby a ploy. If it is 10% plus as you say, then I'd have to wait for a buyer.

I would grab an offer 6% lower at the start. In fact I did. House sold and gone. In this market, trying to get an inflated price isn’t the best policy. You already said the valuation was unrealistic. A well priced house sells. No need for waiting around. No off road parking is a deal breaker for many with larger homes. However I wish you luck. The advert has sucked you in. They know what your house is worth and they will offer you less!

If you are very in the know with this and your area, Bubbles, I can see you may have grabbed it. I'm very happy to discount 10K rather than wait for very close to asking price, that's what I mean but unrealistic - but agent actally stood y his valuation and thought I could get 5k less. I'd now discount 15K but any lower and I won't be making anything on the house in 6 yrs, I think it's be different of I owned it for a very long time or otherwise just a year! I also have to buy the next house, so I@m counting on certain amount minimum.
I've also been spoiled I suppose by my other two sales within last 15min (different areas though).
Thank you, I did come close to an offer so I'm hoping still, and I;m sure it would get more viewings spring/summer but I've got time pressure. I'll see how the one forthcoming viewing goes, then will contact those co's.

15 yrs , not minutes!