This week, the team at EweMove Ashby share expert advice on the hidden clauses and extra charges you need to watch out for when signing a property sales contract.

When your superstar estate agent has turned up in their shiny suit and brand-new tie and they've bowled you over with their winning pitch, they'll proudly produce their sales contract.

They'll talk about the key facts, like the price that they hope to get you for your home and most people will then focus on the sales commission fee. But what the vast majority of people fail to do is review and understand the terms of the contract, contained in the small print, usually on the reverse.

Thinking of selling? Make sure you understand every part of your sales contract before signing

This section will tell you all you need to know, including the little traps you need to watch out for to protect yourself. A very important part of the sales contract is what additional charges are going to be payable. Beyond the standard fee for selling your home (which will either be a fixed amount, or a percentage commission based upon the sales price), the agent may offer to provide you additional marketing services. This could, for example, be to prepare professional brochures, or professional video/aerial photographs.

The key point here is that any additional charges applied must be agreed by you and set out in writing. We make sure that any additional charges that do apply are written on the front of our contract and then signed off by the customer to make sure that they've been made perfectly clear. It is standard within the industry for the estate agent to provide a range of additional services to your prospective buyer.

These can include arranging a mortgage, insurance, recommending removal companies, conveyancing firms and surveyors. It's common practice for the estate agent to receive a commission for such referrals directly from the third-party providers.

What you need to make sure doesn't happen, is the practice of your agent making the buyers offer conditional upon them using the agent's own in-house recommended providers. For example, some agents have been known to suggest that buyers cannot even view your property, or make an offer, unless they use their in-house mortgage provider.

This is not acceptable practice and it will put off many potential buyers. This in turn reduces your prospect of achieving a successful sale, because your home is no longer being made available to the widest possible audience. 

If you'd like to speak to the friendly team at EweMove Ashby about selling your home or understanding your sales contract, click here to get in touch.