selling my flat privately??

[leeb]

hi all,

sorry to go on about this again, following on from my 'swapping houses' thread, i am now going to go the route of taking it off the market, and selling it privately to my parents, estate agent contract states that the commission is payable to them if they introduced or had any dealings with the purchaser, its my parents so no they didnt introduce them to my property.

obviously it will all be done properly, just wondered if there are any main points i should know about selling privately or any problems that anyone here has come accross going down this route?

thanks a lot

Lee

[ScottNicol]

theres none at all really, as long as you let both laywers get on with it. estate agent shouldnt be getting anything at all, tell them to jump, just tell them you are not selling it if they become arsey, they can do nothing

[mcflurry]

I would wait 8 weeks, to stop any comeback from the EA..

[leeb]

8 weeks is far too long, no can do.

the contract states they require 2 weeks written notice of termination of contract. the property i am buying is through this EA as well. So i am planning to take mine off the market in the morning, put an offer in on the house i am trying to buy, and appointing a solicitor with my parents to handle the whole dealing of my purchase, the sale to my parents, and the purchase from me for them, so he will be acting on both our behalfs. (any recomendations of a decent solicitor, in the essex area if poss??? )

thanks a lot.

[trooperiziz]

leeb said:

and appointing a solicitor with my parents to handle the whole dealing of my purchase, the sale to my parents, and the purchase from me for them, so he will be acting on both our behalfs. (any recomendations of a decent solicitor, in the essex area if poss??? )

thanks a lot.

Conflict of interest, a single solicitor won't represent both the seller and purchaser in a transaction.

[superlightr]

why not tell the EA what your doing, ask them if you have missed any details that would entitle them to charge you comission if you sold it to your parents. Confirm in writing what is agreed.

I would suggest that there wont be any fee, but its simpler to ask and be certain.

If there is a fee, you may be able to negotiate substantially now, but wont later if it all gets nasty.

[dr bob]

...and don't necessarily expect the EA to be entirely honest in the reply you get - even though you are being straight with them!

Sorry for offence any honest EAs out there (v.v. bad experience last time).

CH

[leeb]

pretty much all sorted now as far as it can be at this point, thanks a lot for all your help, always appreciated

[superlightr]

so what did you do to sort it?

[leeb]

ah sorry, should have explained.

spoke to EA said that we were keeping the flat in the family, therefore taking it off the open market, supplied written confirmation. put an offer in on the house which topped one accepted earlier that day , explaining i would have a new mortgage in my own name, and funds can be raised as soon as it can all be sorted by solicitors etc. My parents will buy the flat to rent out, with no risk of breaking contract with the EA as there is no way that they had anything to do with the sale or introducing my olds to the flat.

all is currently looking good. i will keep you updated

[superlightr]

excellent.

good luck with the purchase & thanks for the update.