Foxtons- of course!

So, we listed our co-op with Foxtons in April and have had a long list of problems with them, the biggest being they brought us 2 unqualified buyers and wasted endless amounts of time not showing our place when they should have (they thought that just bringing a buyer meant it was a done deal). We have a buyer now but they are having problems getting co-op board approval because- they are unqualified. If we lose this buuyer, we would have basically had our co-op not being shown for 2 months. We've already closed on our house and it's just sitting their vacant cause we can't take the added transportation expense as we'll be paying 2 mortgages come November 1st!

So, to top it all off, I find out this week from the news that Foxtons is filing for bankruptcy and closing down- never received any notification from Foxtons. All employees have been released. I have not spoken with my foxtons agent in over a month- they were never any help and failed to do many things an agent should do, such as follow up on the board package which was submitted a month late, etc.

Their website says they will "assign" clients to new agencies- Ha, I'm sure that would turn out great- give me an agent that doesn't want to sell my plce and that I have no prior knowledge of.

I've written a letter asking for a release and detailing what the agents failed to do and sent it to their customer service email as well as mailed it to their headquarters.

What do you think my chances are of getting out of having to pay them a commission if my co-op sells? The buyer we have now has an agent, so we would still pay him half the commission but I don't see any reason why Foxtons should receive their half.
Thks.

Re: Foxtons- of course!

you have FM

Re: Foxtons- of course!

I would think that the fact they are shutting down would release you from your contract.

Re: Foxtons- of course!

Oh boy sorry this is happening to you. I would think that they would release you if they are going bankrupt. I used them at first to sell my co-op too and they found me buyers my board wouldn't accept it was bad!

ETS Hope it all works out for you!

Message edited 10/13/2007 12:28:06 AM.

Re: Foxtons- of course!

I didn't believe you, then checked foxton's website, and wow, they really are bankrupt!

just wow!, shows you hard times in real estate market.