RE: I want to take house off market

H

hizzy

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Hi All

My house has been on the market since April of this year, it is with two estate agents.

My neighbour offered to buy it off me for 50,000 less than what I was looking for, and she has asked that we do the sale privately.

Yesterday one of the estate agents came back with an offer matching my neighbours from another bidder. The agents do not know that my neighbour has made an offer.

This is where I am stuck, I want to sell to my neighbour, however because she doesn't want to go through the agents, do I still have to pay the agents a fee?

Many thanks

Hizzy
 
She doesn't want to go through the agent because she doesn't want to have to pay more. You have two bidders here on your house and if you let the agent know then he may be able to get you a higher price. He will be due his fees anyway unless you can prove that your neighbour didn't first notice that it was for sale because of the agents sign, advertising etc.

You are in a good position now and if the agent is an experienced negotiator they should be able to maximise this situation in your favour.
 
your neighbour might be pulling a fast one they may be the other bidder, knowing that you would have to pay a fee to sell through the agent. this would make their offer sound better and you would not notice the missing 50.000
 
Hi

I know who the other bidder is, my neighbour made this offer months ago, but I rejected it, had to drop my price due to the market.

Hizzy
 
Just because you have an agent trying to sell your house that doesn't mean that another agent can't sell your house or you sell the house yourself.

In the current market the key is getting somebody that you are happy will go ahead with the transaction. If I was in your shoes and I trusted my neighbour then I would certainly sell through them and take the house off the market.
 
Hi Doberden

Thats what I was thinking of doing, but don't want to mess the agents around

Hizzy
 
The only additional thing I would do is see if the neighbour will pay a little bit more. If they offered 50,000 below then they probably will go a little bit more. Tell them that you couldn't do 50,000 below but you would do 25,000 if they were prepared to sign contracts within 3 weeks... If they don't agree to that then they will probably counter offer. Either way you could probably negotiate a deal with them. You can mention there's another interested party that has made an offer but you don't have to tell them what the offer was. Just tell them you got a good offer close to the asking price but you'd prefer to do business with them, however, 50,000 below the asking price is too low.
 
You can sell to your neighbour if you want but you will still have to pay the agents fees. Does this then make neighbours offer appear too low?
 
To be honest doberdens advice is a little simplistic no offence intended. The objective is to get yourself the best deal and that means all parties being kept in the picture. Your neighbour won't accept that there is another offer but not being told what it is.
You are going to end up paying the fees so its best to hand it over and see can the Ea play both parties against each other.
 
check the agreement you signed, but i do think that if you agreed to drop your price and you EA has found a seller, he is quite entitled to get paid, i don't see why your neighbour won't go through EA as its no cost to her and since the EA has a bidder, tell her put the bid through him, thats what you are paying a EA for, so you don't have to put up with this hassle
 
You have to look out for yourself. This is a huge transaction to you - it is just another of many deals for your EA. He will have forgotten whatever happens in a week - you will remember every detail for years to come.

You haven't signed an agreement with the EA so unless he comes in with a higher offer that will cover his fees sell to your neighbour - but do try to get the price up.
 
In a similar vein, I want to move agents. When you say you still have to pay the agent even if he does'nt sell - how much do you pay. The advertising costs or? I also have no contract with the agent
 
Surely if the EA has a for sale sign outside the door and has presented your house in their shop and/or online, it could reasonably be assumed you consent to their having a role as your agent and there is a verbal contract- even if nothing's been signed.

The logical conclusion of this position would be where a seller refuses to pay an EA's fee following the sale through the EA, arguing 'I never signed anything'. I don't think that position would last longer than the first solicitor's letter!!

Regarding the OP's issue, I think the EA would have a good case to demand a fee if it became known that a sale had taken place without their involvement.

Can well see how the OP would like to sell to the neighbour, but this is business. €50k less is taking a big hit. It would be important to establish whether the EA's interested party is in a position to complete equal to (or better than) the neighbour.

The neighbour will just have to get used to the idea that their offer is no longer the only game in town and that the going rate for the house is now much more than the original offer... which was refused at the time.

Regarding Annie Q's issue, I believe you can end the relationship with a particular EA when you are unsatisfied with their performance or if you take your house off the market for whatever reason, as long as you make it clear that you are ending your association with them. Presumably if you signed nothing, then you needn't give it in writing.

I believe you need only pay for the advertising they carried out for you.
 
There is a situation here where two bidders are bidding on a property yet neither know of the other. To get the neighbour to go up any money without the knowledge of a second bidder will be difficult as they think they are saving you money already by cutting out the EA. The fact that this situation has occured and those who are interested in your property are still in the dark would suggest that you need to hand things over to someone who deals with this on a daily basis. Explain to your neighbour that things are no longer straight forward as your EA has found someone at the same price and that you are afraid that they may take you to court to pay fees, so instead you would like things to go through the EA to keep things simple.

As it stands the EA will have good grounds for his fee because your property was up a few months before your neighbour approached you.
 
I want to take house off market

hizzy said:
Hi All

My house has been on the market since April of this year, it is with two estate agents.

My neighbour offered to buy it off me for 50,000 less than what I was looking for, and she has asked that we do the sale privately.

Yesterday one of the estate agents came back with an offer matching my neighbours from another bidder. The agents do not know that my neighbour has made an offer.

This is where I am stuck, I want to sell to my neighbour, however because she doesn't want to go through the agents, do I still have to pay the agents a fee?

Many thanks

Hizzy
Click to expand...

Before everyone gets carried away with fantasy.............the poster's house has been on the market now for 8 months, no interest, no sale. Next-door-neighbour makes an offer at what (judging by the Estate Agent's news of an EQUAL bid!) is 'a more realistic market price' given the current slowdown.

The poster wants to sell her house. She has a determined buyer next door. Why would she risk losing both offers (which is all they are at the moment!) on the basis she can 'pit them against each other' when there are currently more properties for sale then there are buyers wanting to commit? Why would either her next-door-neighbour OR the bidder the EA has found even contemplate raising their offers when the country is full of properties for sale?
 
I think the neighbour the the bidder with the EA are the same person. What advantage has the neighbour to avoid the EA?
 
Hi Bronte

It is two different bidders, what my neighbour said was that she doesn't want me to have to pay EA fees.

Should have accepted her offer months ago.

Hizzy
 
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