Hi,
Just re-letting my property and one agent I'm with has this as a condition:
"In the event that a sale of the property should be agreed with the tenant during or after the tenancy and contracts should be exchanged then {Mod - name removed} are entitled to commission of 1% subject to a minimum fee of £1250 plus V.A.T. of the eventual sale price."
I've never noticed this with other agents before, has anyone here seen this? I understand no agent would want me to terminate an agreement so I could sell privately to a tenant, as they'd lose income. But this is way over the top. It effectively says that 20 or 40 years later I could have a fee to pay because I didn't know it was a previous tenant I was selling to!
Comments appreciated.
Thanks,
Chris
Just re-letting my property and one agent I'm with has this as a condition:
"In the event that a sale of the property should be agreed with the tenant during or after the tenancy and contracts should be exchanged then {Mod - name removed} are entitled to commission of 1% subject to a minimum fee of £1250 plus V.A.T. of the eventual sale price."
I've never noticed this with other agents before, has anyone here seen this? I understand no agent would want me to terminate an agreement so I could sell privately to a tenant, as they'd lose income. But this is way over the top. It effectively says that 20 or 40 years later I could have a fee to pay because I didn't know it was a previous tenant I was selling to!
Comments appreciated.
Thanks,
Chris