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  • Property-a-holics

    Multiple Agencies in Purchase

    Comments will be welcome.

    I may be about to purchase a property.
    I first viewed it with estate agent A some time ago (ie the introduction).
    I then viewed it with agent B since the vendor had changed Agents.
    Offer made through agent B, which was rejected.
    Agent A then persuaded vendor to consider a potential further offer.

    Questions:

    Should a sale proceed through Agent A:

    1 - Clearly there's may be a dust-up between A, B and the Vendor about who gets what fees, but that is not my problem, and it depends on the various contracts with the vendor (there is also an Agent C and an Agent D with whom I have had no contact, and that is not my problem either).

    2 - However, how do I make sure that the sale proceeds smoothly without the vendor being scared off if A and B both start demanding fees?

    As far as I can see, all I can do would be to make sure that it moves to exchange of contracts as rapidly as possible should a further offer be accepted.

    3 - Of course I may have a strained relationship with Agent B for a bit :-o .

    Has anyone met this before?

    Rgds

    ML
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    Hi ML,

    I don't think there is a lot you can do in this situation.

    The vendor is the client of A, B, C, & D and they will have to "manage" this.

    My advice would be to put it in writing that you are keen to progress the sale and suggest completion within 28 days.

    Employ a pro-active solicitor, put him in funds, and ask him to push from your end.

    If it does fall out of bed through wranglings between A, B, C, and D, there is not a great deal you can do.

    You may lose a few hundred quid in solicitor's fees, but you will have to judge if you are willing to risk that.

    Maybe ask the vendor to pay for your solicitors fees as part of the deal as you feel nervous about the potential issues of multiple agents?
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    It depends on the agents respective contracts with the vendor and whether the agent or the vendor is in breech of those contracts. I`ve sort of had this before where I was buying through one agent then mid purchase vendor was repossessed and the repo came on with another agent mid negotiations. Both claimed the fee. I let the solicitors fight it out and the repo company one. I presume there are some rules and regs in the EA small print which cover a property being repo`d mid term after offer and before exchange.

    I`m sure these arguments go on all the time behind the scenes especially when there are multiple agents involved from the outset.

    In my case it was a drawn out saga but I played a bit of a blinder with the repo agent who was a good contact as before the valuer went out they asked me what I would pay. In a flash i dropped 7K from what i had been paying ( which was already a good price ) to what I would pay now. Well repos are ment to be cheaper by definition - aren`t they!? :-)
    The valuer went out hopefully influenced by my conversation with the agent which would have been relayed to him and he valued it 2K above my figure but i stuck to my guns and got it at the price i had dropped to

    If I fear the agents get in the way I have no hesitation to going and buddying up to the vendor. I reassure them I`m a serious buyer and that if they are not happy with the agents service they should just give them notice on their contract (which I read through with them if they are unsure on the legalities ) and then deal with me direct. I leave a business card and a winning smile and wait patiently by the phone for a call in 2 weeks time.

    Agents are great most of the time but some play dirty and their artistic licence is as broad as it is long sometimes. They are fair game in my book if they dont play by the rules. Its a bear pit out there and I`m going to win.
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    Jonathan Clarke. http://www.buytoletmk.com

    Well, they are both hanging tough.

    Today we received two letters informing us that our solicitor's are being instructed.

    The story from Agent 1 is that they introduced us.
    The story from Agent 2 is that it was long enough ago that they now get the fee.

    Personally I'd like to get them to fight it out on Crash Mountain..

    We shall see.

    ML
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