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I was going to make an offer on this house ,but the estate agent told me I had to pay them £120?

I am talking about scunthorpe,in north lincs.I liked this house on the internet.I told the agent on the phone I would probably pay the asking price if I liked it (this town is 300 miles away from me) the agent said they would not take the property off the market unless I paid them £125.If not I could easy get gazumped.I would appreciate advice,especially from anyone in the housing market.They say other agents put "under offer" they say for this charge they will take the property completely off the market.I say if a FULL asking price offer is made,they should take it off the market,anyway.I have sold my present property,and we are near to exchange,but not exchanged yet.I am 62,and have sold several other houses before.What is the difference between "sold subject to contract"and "under offer" I am angry at them asking this.Should I pay it,or are they helping me.The estate agents are called Jump David Harrison

the thing is, the agreement to buy and sell property is not legally binding from the point of actually signing and exchanging the motgage deed.

you could technically even pull out of the deal after having a mortgage application accepted and initiating it with the solicitor, though techincally this is breach of contract you can still pull out.

it has been something that has happened many times in the past.

gazumping is where you are in agreement to go through with the sale both vender and buyer, but then the vendor pull out of the deal because someone else offers them a better offer on the property...this has been seen by many potential buyers as unfair practice but not illegal.

the estate agents duty of care is to the vendor and is thier job to gain the best offer they can..

unfortunately this means keeping it on the market until the sale goes through as in the vendors defence, a potential buyer could pull out anytime and the vendor has no redress from this..

as the the charge they are asking for, this should be stated in thier charges policy or equivalent, you should ask for this.

another issue is if this property is being marketed by just them or other estate agents - if its the latter then regardless of them taking it off from the market, it will still be marketed by other agents

sorry i couldnt give you an actual answer to the charge issue, but hope you can understand how it works

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