How to terminate estate agent contract
Estate agent contracts - they're one of those fine details that you simply cannot afford to forget. Take it from us, to overlook your agent's contract you'd be downright foolish, as it's here where the agent hides all their sales caveats, loopholes and technicalities. Basically the things that they're legally obliged to state, but don't want to tell you to your face. Catch our drift? Show
You have to remember that at the end of the day an estate agent is simply a salesperson, trying their best to win your business. They're not your friend, business chum or someone to confide in. If they were, they'd never allow you to sign such an agreement in the first place (gulp)! And even if they did, they'd make it easy for you to get out of. But thankfully, we're not an agent, so when it comes to getting out of an estate agent contract, we're more than happy to help. So if you're reading this at the mercy of a complex contract (sole or dual agency), relax - there is a way out! Here's how to get rid of your real estate agent and sell your house FAST... After something specific about cancelling an estate agent contract? Use the menu below to track down the info you need in record time...
Why do real estate agents make you sign a contract?Don't mistake estate agent contracts for simple scraps of paper. They're anything but! In fact, that is why an estate agent issues one in the first place. A estate agent contract is a document that outlines the overall terms of your agreement to sell your house. Usually these contracts are various pages long and are split into sub sections. Ask and agent and the reason for issuing the contract is to protect both you and them in the event of a disagreement. And while this is true, when you consider how an agent uses a contract (as a loophole minefield), you can't help but think it's written more in their favour. Here's just a few of the caveats that you need to watch out for before backing out, or in fact signing, an estate agent agreement... In the time it takes to escape your contract, we could've bought your house... for CASH! Sell My House Quickly
Here's how to get out of an estate agent contract... Click This Button Types of estate agent contractsFor anyone looking at how to get out of a real estate agent contract, you first need to understand what type of contract you have. As with most legal documentation these days, each company has their own version - there's no one size fits all estate agent contract. In fact, they come in four types, and even then each individual agency has its own version of each type. Mind boggling stuff! Nevertheless, to help you understand which type you're looking to cancel, here's an overview of the main four Types of estate agent contracts include...
Don't be tricked into footing fees... we don't charge them Fee-Free Sale, Please Is there a cooling off period when signing with an estate agent?The short answer is yes. Since 2014, all estate agents in the UK have been obliged to offer a cooling off period of at least 14 days. Is this news to you? If so, you may be in luck! You see, an estate agent's cooling off period only begins when you are first informed of it. So, if you look back in your contract and there's no mention, or what is there isn't very transparent, then cancelling your contract with the agent may actually turn out to be a lot simpler than you imagined. In fact, if this is the case the odds are overwhelmingly in your favour. Even if it does state so in your contract, but you weren't told of it in person, we'd also advise you give this a go. Government legislation dictates that you need to be 'informed' of your right to cancel. Want to explore all the legal smallprint? Click here. FYI: While agents are obliged to offer a 14 day cooling off period, that doesn't mean you can't be tricked into signing it away. With many agents, if you agree to start arranging the specifics of your sale before the end of this period (photography, floorplans etc.), then you'll automatically sign away your rights to your 14 days! However, to do so, the contract must be signed by you in person, so if you've just agreed a deal with an agent and they seem overly eager for you to sign, be suspicious. This could be the reason why. What's a loophole? Our contract doesn't have them... Sell My House FAST Can I take my house off the market before my contract expires?Yes, it is possible to remove your house from the market before your contract expires. However, that's not to say it's possible in every instance. In fact, there's quite a few exceptions, many of which could see you violate the terms of your contract and leave you liable to pay withdrawal costs. Or worse, cover the agent's fee. So to help you avoid this costly fait, here's just a couple of ways how you CAN take your property off the market, without footing a charge...
Stuck in an estate agent contract? We'll help you out of that in a jiffy... Buy My Home TPBC Do I have to pay estate agent fees if I pull out?Okay, so we won't beat around the bush. Whether you have to pay an estate agent if you pull out all depends on the specifics of your contract. Each agent's contract will be different, so you really do need to investigate it thoroughly before pulling the plug. If you're unsure, go seek the advice of a legal professional. TIP: If you choose to pull out before exchange, it's far less likely that you will have to pay the agent's fee as the sale isn't legally binding. However, as soon as your property has exchanged, the agent's fee becomes your responsibility to settle. So when assessing your estate agent contract there are various clauses that you must assess before pulling out. Here's 3...
Fed up of hidden clauses? We don't have them... Buy My Home TPBC Can a real estate agent Sue a buyer?An estate agent is just like you or anyone else - they 'can' sue you. However that's not to say that they will. In fact it's VERY rare for an agent to go in all guns blazing and sue a buyer, especially if it's just from withdrawing from a contract. Look at it this way. You withdrawing your contract and violating the terms is going to cost the agent: (A) a lot of time and (B) a good chunk in court costs. Not only that but if word gets out that they've taken one of their clients to court, it could very easily scar their reputation. Hardly the ideal reputation to have when trying to win over customers. So to sum up then, by taking you to court it would cost the agent:
But none of this stops you from suing them. Although if you're unsatisfied that shouldn't be your first port of call. Before any legal action you should take your complaint to the Property Ombudsman - a government scheme which can issue compensation of up to £25k. You can also make a complaint direct to the National Association of Estate Agents - the trade association that most agents will be part of. Only in the event that neither of these methods come up trumps should you pursue legal action. Recently been cut loose from your contract? We'll buy your house in 7 days! One FAST House Sale, Please I've terminated by estate agent contract. Where next?If you're reading this a free man (or woman) congrats! You've navigated your way successfully through the loopholes of an estate agent contract and made it out the other end unscathed. And even if it cost you a pretty packet to escape this comprehensive piece of paper, don't let it stop you from giving yourself a pat on the back. Why? Because now there's no longer a ball and chain around your ankles you can now get down to the business of actually selling your house (WOPEEE!). Question is, when you've spent a lot of time trapped by a malicious contract, what is the best way to do so. We break down your options below...
As an industry leading cash buyer of property, we can take your house off your hands in less than 7 days, regardless of its location or condition. Nope - that isn't a typo! Our team of property pros have in excess of over 50 years' experience in buying homes and are equipped with the industry know-how to get you moved FAST! On top of being experts in what we do, we'll also make sure you have no fees to pay either. We cover your solicitors. We cover your survey. And we offer you a cash sum for your property, which can be in your bank as soon as next week. Plus, our team can also help you save money too! In the past, they've been known to even negotiate on behalf of sellers and get them a healthy reduction on their onward purchase. All perks of choosing to sell fast through TPBC. |