MBD Posted July 28, 2008 Report Share Posted July 28, 2008 I am about to sign terms and conditions with an estate agent. They found some tenants a few weeks ago and they are due to move in on 31st July. They are asking me to sign a document that gives them:- *continuing fees on a let only contract *2% fee if I sell to the tenants *a charge of £550.00 if I back out after they have done the admin and found the tenants I have used them in the past and signed one of these contracts ( mistakenly) - recently I decided to sell and as they could not find a buyer to go all the way,they offered to find new tenants and hence the requirement to sign a new contract I had made it clear I was not happy with this clause in the past but I do not want to find I am liable for the £550.00 if they accuse me of backing out ( I HAVE NOT SIGNED THIS NEW AGREEMENT YET) Can anyone help as I want my tenants but do not want to be paying forever Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted July 28, 2008 Report Share Posted July 28, 2008 Nice and easy this one !! Agent removes these terms OR you remove agent and use a different one ! Remind them you are looking for a Teant NOT a business partner or shareholder in your invetment activities ......if he get shirty ...punch him squarely on the nose !!!!!!!!!! Goddamn parasites they are !! The Rodent Link to comment Share on other sites More sharing options...
Melboy Posted July 28, 2008 Report Share Posted July 28, 2008 The 2% fee for selling to Tenant is unenforcable in Law. Proven case from a couple of years ago. Point that fact out to them when you see them. A lot of LA's still put that clause into contracts knowing full well they can do nothing about it if it went to Court in getting the money from you. The charge of £550 (although VERY high) is enforcable from you if you back out after signing a contract. Mel. Link to comment Share on other sites More sharing options...
Mortitia Posted July 28, 2008 Report Share Posted July 28, 2008 I had something very similar with a well known S. London agent. Try this one - strike through the clauses you don't like, initial them and sign the contract. They will either negotiate with you ( as I found ) or you find another agent who is more competitive. Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted July 28, 2008 Report Share Posted July 28, 2008 Re negotiating ........as last post or not at all ........! Damn cheek for even suggesting such a thing !! The Rodent Link to comment Share on other sites More sharing options...
MBD Posted July 28, 2008 Author Report Share Posted July 28, 2008 Nice and easy this one !! Agent removes these terms OR you remove agent and use a different one ! Remind them you are looking for a Teant NOT a business partner or shareholder in your invetment activities ......if he get shirty ...punch him squarely on the nose !!!!!!!!!! Goddamn parasites they are !! The Rodent Thanks good advice and it made me laugh Link to comment Share on other sites More sharing options...
MBD Posted July 28, 2008 Author Report Share Posted July 28, 2008 The 2% fee for selling to Tenant is unenforcable in Law. Proven case from a couple of years ago. Point that fact out to them when you see them. A lot of LA's still put that clause into contracts knowing full well they can do nothing about it if it went to Court in getting the money from you. The charge of £550 (although VERY high) is enforcable from you if you back out after signing a contract. Mel. Mel I have not signed the contract yet and good to know about the 2% - I'll hold off the signing Link to comment Share on other sites More sharing options...
MBD Posted July 29, 2008 Author Report Share Posted July 29, 2008 I had something very similar with a well known S. London agent. Try this one - strike through the clauses you don't like, initial them and sign the contract. They will either negotiate with you ( as I found ) or you find another agent who is more competitive. Thanks Mortitia - apprreciated I have signed the Let Only Page ( there does not seem to be a terms and conditions acceptance page) and crossed out the paragraph with the ongoing commission charges. " Now I will wait for the response" Link to comment Share on other sites More sharing options...
MBD Posted July 29, 2008 Author Report Share Posted July 29, 2008 The 2% fee for selling to Tenant is unenforcable in Law. Proven case from a couple of years ago. Point that fact out to them when you see them. A lot of LA's still put that clause into contracts knowing full well they can do nothing about it if it went to Court in getting the money from you. The charge of £550 (although VERY high) is enforcable from you if you back out after signing a contract. Mel. I have just signed the let only page and crossed out the ongoing costs wording - I'll see what their stance is- thanks again Link to comment Share on other sites More sharing options...
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