How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Teacher Editor Your Own Question
Teacher Editor
Teacher Editor, Teacher
Category: General
Satisfied Customers: 1339
Experience:  I am a good researcher
19568076
Type Your Question Here...
Teacher Editor is online now
A new question is answered every 9 seconds

My house is currently on the market and I recently sacked my

This answer was rated:

My house is currently on the market and I recently sacked my previous estate agent (after 18 months of no sale) two months ago and re-appointed a new agent. Now a previous prospective buyer has returned after 7 months ago and wants to make an offer-possibly of the new price I have with my new agent. The old agent told me that I would of course be liable for two estate agents fees as I was within their 6 month contract period if an old client raises its head within that time period. However, my current house price is now at its critical lowest point and I have no more bargaining equity. Basically, I cannot afford to pay 2 estate agents fees as this would reduce my equity to below that which i require to purchase my new property. The question is can I refuse to accept this old clients offer of sale on the grounds that I would be unable to proceed getting a mortgage on my replacement property. I don't have any spare cash to supplement the additional fees.

Linda Roch :

Hello and welcome! If you have any other questions, please let me know or please click Accept.

Linda Roch :

The answer to this depends on what type of contract you had with the old agents and what kind of clauses were in there.

Linda Roch :

Second, talk to your current agent and the old agent who brought the buyer. If you can negotiate between them, this may all work out.

Linda Roch :

The other option and your bargaining chip is that you can just take the property off the market before any offer is made or you can reject the offer.

Linda Roch :

Rejecting the offer for the actual offered price can get you into semi-trouble but you can put your in your contract that the sale of the house depends on your ability to gain a mortgage for your new property so unless you are able to get a mortgage, the sale will not go through.

Linda Roch :

But in this case, I think strategically try to negotiate with the agents or tell them you will be forced to take the house off the market (you may want to take the house off the market temporarily to make sure that nobody tries to put in an offer just to spite you). Once you have a signed agreed contract between all of them, then go ahead and accept the offer.

Teacher Editor and 48 other General Specialists are ready to help you