When you are selling your property and the buyer pays the 10% with the promissory contract is it normal for the estate agent to take their fee plus IVA out off that money right away? also if the buyer did not complete the sale is it OK for the estate agent to keep her fees and recharge you the same fees to sell again?
selling a property
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Your contract with the estate agent should dictate the point at which the 'sale' is deemed complete and fees due. The agent will want that to be as early as possible and the vendor will want it to be on or after escritura.
The agent should not be able to take their fee, as the deposit should ideally be held by your solicitor until completion rather than held by your estate agent.
The agent should not be able to take their fee, as the deposit should ideally be held by your solicitor until completion rather than held by your estate agent.
Thank you for taking the time to answer my question Richard
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