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Auctioneer fees if buyer rents before buying.

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  • 10-03-2015 4:00pm
    #1
    Cooker1
    Registered Users Posts: 6 ✭


    An auctioneer brought a prospective buyer to see my house before anything signed with them and before they had seen the house themselves. Verbally auctioneer told me they charge for advertising a fixed amount up front and said on sale they charge 1.5%. I conducted the viewing with the auctioneer present. Whilst there, buyers asked if they could rent the house with a view to buying and I agreed. I presume no fee payable unless house actually sold? No word from auctioneer since, but I am in contact with the renters/buyers about their move in date. Is there a "statute of limitations" ie if they rent for a certain amount of time, am I exempted from paying an intro fee/commission?


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    #2
    whomitconcerns
    Registered Users Posts: 4,319 ✭✭✭whomitconcerns


    Depends on your contact but I would imagine that you will owe them money if you take their referrals even if not to a sale


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    #3
    DaraDali
    Registered Users Posts: 410 ✭✭DaraDali


    The OP is already paying for the advertising, I think you should cut out the middleman as the Auctioneer did not sell this house, it sounds like you did :)

    Talk it over with you lawyer regarding the contract you're drawing up for the rent to buy.


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    #4
    antoinolachtnai
    Registered Users Posts: 9,776 ✭✭✭antoinolachtnai


    I would say you would owe them 5 or 6 percent on the rent for the first year or the 1.5 percent when it sells, whichever is higher. If you pay the 5 or 6 percent rental commission now, I think you would be entitled to deduct that commission from the 1.5 percent commission later on if/when it turns into a sale.

    I don't see how you can morally or legally avoid paying the agent for his work.


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