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Estate Agents Fees


MBD

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:angry: 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 :(

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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

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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.

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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.

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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

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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

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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"

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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

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