Change of company

Thank you for your reply Alasdair. On the 22nd August I signed a 6 month (sole agency) contract with company A to sell my house. 3 days ago, I was notified by company A that they are being taken over by company B and have asked me to sign a document agreeing to the new company taking over my existing contract with company A. I am not happy with this change, but am unsure of the legalities. Is company A in breach of contract with me? Can I refuse to sign with company B and terminate my contract with company A, as they will soon no longer exist? Company A?s contract stipulates an administration charge of ?395 + VAT, if I wanted to terminate the contract earlier than the agreed term. However, there is no reference in the contract regarding the collapse of Company A. Although I had no intention of terminating the contract with company A prior to the 6 months term, I don?t want to be railroaded towards a different company and don?t believe I should have to pay any administration charge as this is not of my choosing. 

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Alasdair Taylor's Answer

Apologies – I should have been clearer with my previous answer.  I’d need to review the contract, ask you questions etc before advising – in other words, take you on as a client.  However, I don’t undertake this type of advisory work.

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