Estate agents

[nicojo]

If my house was on the market with an estate agent & then taken off the market (either by myself or the agent), is there some legislation that requires the property to remain off the market for a certain amount of time?

I.e. If a private buyer came along a week after the property has been withdrawn from sale, could I sell to them without fear of reprisal?

[Adrian_londo]

You can agree a price with a private buyer immediately. BUT you can NOT sell to anyone who was shown the property through the estate agents.

Also, if you have an estate agent board up in the front garden, take it down IMMEDIATELY. There is a chance that the estate agents could say that although they were no longer instructed the board was showing that your house was for sale. If, lets say, I walked past the property and called the estate agents, they would have to tell me that the property was no longer on their books. If they found out that you sold it to them they MIGHT have a claim on the 1.25%.

Hope this helps.

[nicojo]

Thanks Adrian. The first buyer of my house pulled out because she could not get a mortgage. Now the 4th buyer has pulled out for personal reasons!
The estate agents want to stop marketing the property & I am awaiting a letter from them.
I spoke to the original buyer last night & she has now been able to get a mortgage...does that mean even if the agents pull out & the private buyer makes an offer, I will have to inform the agents?
There has never been a board up & I have found 2 of the buyers, not the agents.

[inicholson]

The key within your statement is that the Estate agent wants to stop marketing the property. If they withdraw from the agreement that you made with them (which it sounds like they are doing) then they have no recourse whoever you ultimately sell it to but I would get the letter first

[hiphophol]

It depends. What was the reason the agents wanted to withdraw your property from the market?