The mating dance between (house) buyer and seller has begun and I’m so nervous that I’m climbing the walls. My tenant is interested in buying my property (in Joburg) and so I approached two Estate Agents for valuations before submitting my initial pitch (or selling offer) to the potential buyer this morning. I thought I did pretty well. Drawing attention to all the good features of the house while explaining my reasoning process and then cutting a further little bit off the price for good will (and in lieu of painting etc.) Now I sit and wait for their response. Experience tells me that they won’t be happy with anything less than a sizeable discount and I’m going to try and hang tough with my original offer.
An added and very unwanted complication is that the Estate Agents who showed my house last year are trying to muscle in on the action and get a commission. So of course I swung into lawyer mode and fired off this regrettable response:
… to be honest I don’t believe that our original agreement still stands. As I understand it, the agreement was that A would get a commission if the property was sold for X amount. If B agrees to buy at the current price that would be a separately negotiated transaction between herself and me, which was negotiated independently of your involvement. If she is not able to buy then I would be happy to enter into a new agreement with A (as well as with another Estate agent) for a joint mandate. Sorry if there was any misunderstanding about the terms of the agreement. If A had found the buyer and negotiated a purchasing agreement then I would of course accept that a commission was due but in this case, the discussions between B and myself have been independent of any Real Estate involvement.
Ouch – I should have been a lawyer. However, I also know that this kind of thing (legal wrangling) leaves me all shakey and anxious. What if they play hardball here? Or what if I have to crawl back to them and beg them to sell my house for me because the tenant is not able to get a bond (which could well be the case)? One step at a time. Breathe. And go with the flow. Altogether now: “… and five six seven eight.”