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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10494
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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you answered my question on my property sale if I can get Mr

Resolved Question:

you answered my question on my property sale if I can get Mr y to give me all the available equity and move to my parents house before i become homeless n 6yrs 2 months time, but tonight i had cold callers to view and they have offered my asking price for cash. If you recall Taylor Bourne want me to take my property off of the market. If i was to take my property off there books and took the cash offer, would this be lawful,and what pitfalls should i look out for as when exchanging contracts?
Submitted: 3 years ago.
Category: Property Law
Expert:  Aston Lawyer replied 3 years ago.
Hi,
Thanks for getting back in touch.
You are free to accept this cash offer.
However, if you have signed an Estate Agents agreement with Taylor Bourne, please note that their small print will say that they are entitled to their agreed commission/fees if the property is sold during the duration of their Agreement. This means that you have to pay your Estate Agents fees even if your Buyer came and made their offer directly to you and they did not have any contact with the Agents.
Once Contracts have been exchanged, you are legally bound to sell the property and your Solicitor will be legally obliged to pay off your Mortgage in full on the completion date. Before you exchange Contracts therefore, you need to be 100%happy with going ahead with the Sale and that you have also got confirmation from Mr Y that he will allow you to have all the equity which remains after your Mortgage and Sale fees are paid.
I hope this helps.
Kind Regards
AL
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