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tdlawyer
tdlawyer, Lawyer
Category: Property Law
Satisfied Customers: 1096
Experience:  Lawyer with 9 years experience of advising on property issues.
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me and a vender agreed the price of a property and i signed

Resolved Question:

me and a vender agreed the price of a property and i signed a form at an estate agents office about 6.5 hrs ago. i now think his price is inflated, can i get out of the agreement.
Submitted: 3 years ago.
Category: Property Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Hello, thanks for your question. My name isXXXXX can help you with this.

tdlawyer :

The form that you signed at the estate agents will not be a legally binding agreement to sell a property/purchase the property.

tdlawyer :

You only ever enter into an agreement to buy or sell a property via a solicitor. This is because lots of searches need to be carried out, and professional banks/lenders will require solicitors to check that everything about a property is in order, so that the mortgage can be placed on it.

tdlawyer :

The documentation that you have signed is likely to be (although obviously, I cannot see it) and agreement "in principle" which has no legal force.

Customer:

i understand now that the form i signed has no legal force but i'd just add this was a cash sale

tdlawyer :

Okay. Even if this was was a cash sale, it would be extremely unlikely (although I accept, not impossible) for an estate agent to facilitate the entering into of such an agreement. It is beyond their area of expertise, and would amount to the conducting of reserved activity, which is a criminal offence, and only qualified solicitors are other individuals with legal training can do it.

tdlawyer :

If the agreement, the you have signed has no legal force, then you do not need to worry about it. At best, XXXXX XXXXX only be an expression of interest to enter into an agreement, which is legally binding, in due course.

Customer:

thankyou i now think it's highly unlikely i need be concerned

tdlawyer :

I agree :) Is there anything more I can assist you with?

Customer:

if there is the slightest chance of a problem could i point to the fact that i have reason for thinking his price was unjustifiably high and i'm inexperienced at property buying

tdlawyer :

No, you can't rely on inexperience in these things I'm afraid, although for the reasons I've mentioned, I doubt you're likely to have any issued anyway.

Customer:

thankyou i think thats all

tdlawyer :

Thank you - are you happy with the service this evening?

Customer:

yes

tdlawyer :

Thank you very much!

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