Booking deposit handed over - when does EA stop advertising house?

Have agreed on sale price & handed over booking deposit to EA. Contracts are being exchanged through solicitors. However EA still advertising the house on myhome.ie etc. When should/do they stop advertising the house??

Re: Booking deposit handed over - when does EA stop advertising house??

Just ask the EA, ours says he's leaving it on myhome.ie but will only take names of those interested so he can contact them if the sale falls through. The sign outside the house changed to sale agreed after a couple of weeks

Re: Booking deposit handed over - when does EA stop advertising house??

Thanks!
EA told me he'd pull it from myhome.ie over a week ago and its still up. It hasnt been the smoothest experience dealing with him so I dont trust him one single bit. Will keep following it up. Thanks for the reply.

Re: Booking deposit handed over - when does EA stop advertising house??

I did read on one of the other board sites that leaving the home advertised after Sale Agreed has become common practice due to the high percentage of Sale Agreeds that are falling through. The EA's feel it puts pressure on the buyer to complete quickly or pull out. The property still looks available so they are not losing out on advertising during this time. The person posting indicated that they were an EA.

Having said that, if I was in your position, I would be demanding the house be removed from myhome.

Ditto what robd said. Can you really trust this EA?

I'd tell him to remove all adverts or I'm pulling out.

Thanks for all the replies.

Slightly off topic but I am starting to get cold feet about buying this house at the price we agreed on. Is it too late to renegociate now? I was the only person that looked at the property & while I got a good reduction (25k) I now feel the vendors would have gone lower. Also my monthly repayments are about half my monthly salary with the house at this price.
As i've posted above handed over booking deposit but no contracts signed yet.
Anyone???

Until the contracts are signed by both parties, exchanged and the agreed deposit is paid ( at which stage both parties are legally bound to complete the deal) either party can pull out, walk away or attempt to renegotiate. Without legal consequence.

You can see why EA wants to keep the property advertised.

mf

Re: Booking deposit handed over - when does EA stop advertising house??

robd said:

I did read on one of the other board sites that leaving the home advertised after Sale Agreed has become common practice due to the high percentage of Sale Agreeds that are falling through.

Do a lot of sales fall through because buyer wants to renegociate on price? Am thinking of doing this at the moment but not sure whether to or not as it is a small town and would cause bad vibes.

Click to expand...

"I think it a resaonable request for a gesture of good faith to suspend advertising for an agreed period (say 4 weeks) prior to exchanging contracts. That would be a compromise between your interests and theirs.

If the agent or vendor was biligerent about this it would make me suspicious and I would walk. There are too many fish in the sea at the moment to leave youself open to be gazumped."

If I was advising the vendor ( which is what EA is doing) I'd say don't take sign down until Contracts are signed. In my own office, I am chasing contracts on a daily basis where purchasers are withdrawing offers, changing their minds, renegotiating price etc.,etc on a daily basis. As a vendor I would not want to risk losing any potential purchaser - if there was any chance ( as there clearly is here) the proposed Purchaser was not fully committed to the property on the price.

Patch - its your call. Do what you want but you are free to walk away and/or renegotiate on price. But you can't expect EA to take sign down when you quite clearly are not committed to the property at the price you offered.

mf

Hi,
I'm in the opposite view as a seller,i recently had Sale agreed on my house ,put sale agreed on the sign and then the buyer started stalling.Eventually they pulled out,leaving me high and dry as i had put an offer on another house,Which they also did.As a result this buyer caused many people to be messed around.So in future i'll be leaving it for sale till contracts are signed.Not in the hope to get more money but to get contracts signed.

Patch: You obviously have big doubts about this purchase (at least at this price). It's a big decision - and forget about bad vibes. This is business, why shouldn't you seek to get a better bargain for yourself? You're not talking about small change here, this could be years off your mortgage.

Gazundering is no nicer than gazumping, but what's sauce for the goose....

I can understand how EAs and sellers might want to continue advertising to guard against this, the trouble is a potential buyer might view it as bad faith and a gazump waiting to happen.

Generally speaking, the buyer is king now. From what I've seen EAs and vendors still have an awful lot of adjusting to do to the new reality.