Estate Agent Obligations Query

[MAWuk]

Morning All,
I have got a few questions below I was hoping some legal minded people might be able to help with.

Does an estate agent have a legal duty to represent an offer on a property even if the property is 'sold subject to contract' ? especially if the seller has placed no restrictions on the agent to knock back any further offers that come forward.

If the offer is in writing and has proof of mortgage acceptance (in principle) and an estate agent refuses to accept the offer and put it forward, what can be done about it?

What information must be in a written offer from a buyer so as to avoid the agent rejecting it?

Thanks again for any help

 

[Scalloway]

Are you talking about gazumping?

http://www.mwrlaw.com/is-gazumping-legal/

 

[Newchodge]

Morning All,
I have got a few questions below I was hoping some legal minded people might be able to help with.

Does an estate agent have a legal duty to represent an offer on a property even if the property is 'sold subject to contract' ? especially if the seller has placed no restrictions on the agent to knock back any further offers that come forward.

If the offer is in writing and has proof of mortgage acceptance (in principle) and an estate agent refuses to accept the offer and put it forward, what can be done about it?

What information must be in a written offer from a buyer so as to avoid the agent rejecting it?

Thanks again for any help

Whether the agent has a legal duty to represent an offer in these circumstances would, I believe, depend on the contract between the agent and the seller.

 

[MAWuk]

No Scalloway, no offers have been accepted formally by the seller as yet. We are aware of that as a fact.

 

[Newchodge]

No Scalloway, no offers have been accepted formally by the seller as yet. We are aware of that as a fact.

That makes no sense whatsoever. If the property is sold subject to contract, then the seller must have accepted an offer. Under English law there is no final deal until both parties have signed the contract. If you know so much about the situation, presumably you know the sellers, in which case you can approach them direct. You don't have to go throug the agent.

 

[MAWuk]

The agent I believe may have been under instruction to take it off the market as soon as they had an offer of a certain value through the door, which they have. However, the exact offer details have not been put forward and formally accepted by the seller as yet. Is there any recourse for an agent suing a seller for lost fees if they are side stepped? Thanks

 

[benb]

Estate agents are legally obliged to forward all offers promptly (and in writing) to their clients, up until exchange of contracts.

However, if they have written instructions from their client they can reject offers on their behalf. *They still need to report them but can provide a decision based on their instructions.

 

[MAWuk]

OK thanks for the replies.

 

[Newchodge]

The agent I believe may have been under instruction to take it off the market as soon as they had an offer of a certain value through the door, which they have. However, the exact offer details have not been put forward and formally accepted by the seller as yet. Is there any recourse for an agent suing a seller for lost fees if they are side stepped? Thanks

Yes, of course there is. It is i the contract between the agent and the seller.