News0 min ago
Estate agents' fee - standard or not?
4 Answers
I'm just about to put my house up for sale, but one of the agent's I've had round has given me a contract which states that if the sale falls through for whatever reason, I will still have to pay the full fee to the estate agent on the date the sale should have gone through.
As this will run to several thousand pounds, and as last time I moved house the sale/purchase fell through several times for various reasons I'm extremely worried!!!
Is this standard practice? Are they serious???
Any comments welcome.
As this will run to several thousand pounds, and as last time I moved house the sale/purchase fell through several times for various reasons I'm extremely worried!!!
Is this standard practice? Are they serious???
Any comments welcome.
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.Agree with all the above. The only let-out clause I've never been able to get removed by agents is the one that says the fee is payable once contracts are exchanged, not on completion. In a very few % of housebuying cases, the buyer pulls out after exchange and loses part of his deposit. The agents fee is then still payable, but the seller can fund it from the lost buyers deposit.
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