Trying to sell your house? An estate agent contract information secrets revealed…….
Selling your house through an estate agent? When you are trying to sell your house, did you know that you can find yourself committed to the terms and conditions of an estate agent contract even if you haven’t signed on the dotted line?
Quick Move Now looks at how homeowners can protect themselves when it comes to estate agent contracts, in particular clauses on sole selling rights.
When selling through an Estate Agent, watch out for…..
As with all contracts, it’s important to read the agreement thoroughly, before you put pen to paper and also before you give access for any viewings or allow an agent to begin marketing your property.
Bear in mind that allowing them to market under UK contract law means that you accept their terms and conditions – no signature required!
Allow us to introduce you to your estate agency agreement: a small A4 piece of carbon paper, covered in faded size seven font; a worthy opponent for even the best pair of bifocals. It typically contains clauses relating to five main areas:
- The various services you will receive
- The duration of the agreement
- The amount of commission payable if a sale is achieved
- The period for sale
- Sole selling rights
- How do sole selling rights affect vendors?
Sole selling rights are often included very subtly in estate agent contracts and are perhaps the most disputed and contentious issue of them all, tying vendors in if marketing of the property commences or viewings are hosted, whether they have actually signed the agreement or not.
If you sell your home by another method within the period of time stipulated in the contract, which can be anywhere up to a year, whether it be at auction, via another estate agent, or even to a family member, the original estate agent can still charge you the commission due and will take measures to sue if you fail to pay!
Sole selling clauses give agents the complete and unrestricted rights to sell your home, meaning that even if the service they are providing is poor and they fail to sell your property, it can be challenging and very costly for you to explore other routes.
How can estate agent contracts be avoided and a guaranteed sale achieved?
Do estate agent contracts sound like a lot of hard work?
They are! For those of you who are interested in a stress-free and guaranteed way to sell your house, contact Quick Move Now – the UK’s leading home buyer. You can benefit from the peace of mind of a definite sale, free from mortgages, chains and investors, and enjoy your onward move without the hassle of restrictive contracts. Fill in the free estimate form to find out what Quick Move Now can offer you.