Selling Your House
I have instructed an estate agent to sell my house, but a friend of mine now wants to buy it. Do I still have to pay the agent?
Depends on agreement with agency – some have provisions that can mean you have to pay commission to them if the house is sold, regardless of who sells it. In this case you will need to wait for the sole agency agreement to expire before you sell. Some only require a fee if they actually introduce you to the buyer – in this case you would be fine to go ahead and sell without having to pay any commission. Check all agreements carefully before you sign.
Other frequently asked questions
- How much is my house worth? Do some research – get an idea of how much your house is worth http://www.mouseprice.co.uk/ ...
- How should I choose an estate agent? Should be a member of the National Association of Estate Agents - http://www.naea.co.uk - have ...
- My estate agent wants me to sign a contract giving him ‘sole agency rights’. Is this a good idea? This ties you into a an agency for a particular period of time – if ...
- My estate agent wants me to sign a contract giving him ‘sole agency rights’. Is this a good idea? This ties you into an agency for a particular period of time – if the ...
- I want to advertise my house with lots of different agents. Can I do this? Advertising with lots of agents can sound like a good idea – ensures that you ...
- I want to sell my house privately. Is this a good idea and how do I do it? It depends – you are likely to pay far less in terms of commission, but ...
- What is conveyancing? Technical name for the legal work carried out during the process of buying or selling ...
- Where are my deeds? One of three places – with the conveyancer who acted when you bought the house, ...
- What are property information forms? Made up of two or three forms – property information, fixtures, fittings and contents and ...
- What are ‘Office Copies’? Old name for copy of land register – now called Title Information Document – requested ...
- Why is my solicitor carrying out a bankruptcy search? Will be a requirement of your mortgage lender and the lender for your buyers – ...
- What is involved in a remortgage This is simply where you pay off your existing mortgage lender with the proceeds of ...
- My mortgage lender is charging me an early redemption penalty. What is this and can I avoid paying it? Most mortgage products have a penalty charge to pay if you redeem the mortgage within ...
- My buyers have asked me to extend my lease. How do I do this? Speak to your conveyancer – will need to determine who will pay for extension and ...
- My buyer cannot give me a 10% deposit, but still wants to proceed with the purchase. Should I be concerned? Most house transactions traditionally have a 10% deposit – parties usually agree less if there ...
