• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Buyers arnt "ready willing and able"

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Buyers arnt "ready willing and able"

    Hi

    I am currently selling my property..

    Estate agent still wants to charge me after request to pull my house

    My buyers should have gone into there solicitors 3/4 weeks ago to sign a contract and agree exchange and completion dates.

    They didnt go in and delayed until the 18th April and have since delayed again stating it will be 5/6 weeks longer no dates have been confirmed

    I have instructed my estate agents to pull they are threatening me with fees under this section of the contract

    If a buyer is “ready, willing and able” and he is prepared and able to exchange conditional or unconditional contracts for the purchase of the property. The Seller(s) will be liable to pay remuneration to STRINGFELLOWS ESTATE AGENTS. In addition any other costs or charges applied. If such a buyer is introduced to the seller and this must be paid even if the seller(s) subsequently withdraw(s) and unconditional contracts for the sale are not exchanged irrespective of the reason for withdrawal.

    Are they able to do this
    Tags: None

  • #2
    Re: Buyers arnt "ready willing and able"

    Hi

    Yes if its in the contract but it does seem worded slightly odd, still worth negoteating itnwith them, saying your incuring costs due to unreasonable delay by the buyers.
    crazy council ( as in local council,NELC ) as a member of the public, i don't get mad, i get even

    Comment


    • #3
      Re: Buyers arnt "ready willing and able"

      As CC has said, yes is the answer. You would expect an estate agent to earn their commission at completion or perhaps exchange however as I understand it, the meaning of "ready, willing and able" means that if the estate agent introduces a buyer who in turn makes an offer which is subsequently accepted by you, the estate agent has earned their commission, even if the buyer pulls out you would be required to pay them.

      This is set out under Reg.5 of the Estate Agents (Provision of Information) Regulations 1991

      The devil is always in the detail and you should have read the terms of the contract first before signing. There may be other anomalies within the contract terms but without seeing the contract, it would be difficult to know. Given the introduction of the Consumer Rights Act 2015, you may argue that the term was unfair as it was not prominent (if hidden in the small print) and could be considered as particularly onerous however I am not sure how well that argument would fly. If the clause wasn't prominent and not brought to your attention at the time of signing, maybe you should follow their complaints procedure, and then if the estate agent does not agree with you, which is likely, follow it up with a complaint to the Property Ombudsman for a ruling.

      It's a harsh clause and I can't see how you can get out of it since its written in the law but I guess it deters those who decide to withdraw from the sale or take their property off the market effectively wasting an agent's time to find a buyer.
      If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
      - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
      LEGAL DISCLAIMER
      Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.

      Comment

      View our Terms and Conditions

      LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

      If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


      If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
      Working...
      X