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Estate agent may want to buy my house

6 replies

Bricksandmore · 29/08/2023 16:47

So I’ve had three valuations on my house. The agent I chose to use to sell, seems very keen on buying the house for themself.
should I give them time to decide before signing the contract? Should I go with a totally new agent? If anyone else has been in this position and can advise I’d be very grateful.
Many thanks in advance.

OP posts:
User63847439572 · 29/08/2023 16:48

Well why not, if it would save you fees and the price is in line with what the other valuations were. In this market I’d bite their hand off! (Been on the market for 3 months 😔)

Redwinestillfine · 29/08/2023 16:48

I imagine it's a conflict of interest. Can your solicitor advise?

Frodedendron · 29/08/2023 16:50

If you've had three valuations and they are offering in line with the others, I don't see why there would be a problem, although I wouldn't use their in house solicitors, get an independent one.

minipie · 29/08/2023 16:52

Definitely a conflict, the EA often needs to help smooth things during the buying process such as if there is a survey issue, this is part of how they ear their fee. How would this work if the EA is also the buyer? I would go with one of the other EAs.

Unless, perhaps, it will save you the EA fee- but I doubt it.

KievLoverTwo · 29/08/2023 17:19

Technically, the EA could claim that they introduced you to the buyer, so would be entitled to full fees.

Not really sure if there's any way to get around that.

Bricksandmore · 29/08/2023 17:24

Thanks all, lots to think about.

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