Estate Agents Fees If Buyer Pulls Out

[DarceyK123]

Its seems that there is going to be a hold up on my house sale and my buyers are getting impatient.

If they decide to pull out and the Agents cannot find me someone else within the contract time (there are only a few weeks to go), do i still have to pay them their commission?

[bednobs]

no. How would they work out what it is? isnt usually a % of sale price?

[bakerwales]

Have you exchanged contracts?

[Barmaid]

What does your contract with them say?

[bookbinder]

Ask the estate agent.

[DarceyK123]

No i haven't exchanged yet but they did find me a buyer so i am thinking they will want to be paid but on the other hand i will be left with no buyer and thousands of pounds to be paid out.

[ubasses]

As said, you need to read your contract. This link will explain their terminology and the clauses you do not want to see in your contract.
https://www.which.co.uk/money/mortgages-and-property/home-movers/selling-a-house/estate-agent-fees-and-contracts-an2n90t09n2g#:~:text=Estate%20agent%20contracts%3A%20glossary%201%20Fixed%20fee.%20Some,Terms%20of%20payment.%20...%209%20Tie-in%20period.%20