Buyers arnt "ready willing and able"

[wow2806]

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

[Crazy council]

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.

[R0b]

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.