Phoenix Business Agents

[krishen]

Hi,

 

First post and relative business newbie, but need some advice!

 

My folks looked to sell their business back in 2009. Carehome with 15 residents, and Phoenix said they could sell it for £1.1m.

Sounded great so they signed up.

 

Long time later and no sale, but they did get an offer at way below the asking price that was rejected.

 

They changed agents to a company called Amberglobe.

 

They marketed the property and the buyer who's bid was initially rejected came back in with a higher offer which was subsequently accepted.

 

Sale has all gone through and folks are enjoying their retirement until Phoenix piped up saying they wanted their 2% fee of the ASKING price they had originally marketed the property for because they had introduced the buyer (it is in their contract that was originally signed).

 

They want ~£29k, then reduced it to £6.5k if my folks paid right then.

Folks sought legal advice (from the solicitor they used when selling the carehome) who said they should pretty much just pay and get it done as a long protracted case could cost a hell of a lot more (let alone stress).

Phoenix now want £10k+VAT. But since this morning have changed that to £10k inc VAT (providing we pay by 4pm today).

 

Payment dates keep changing with them, terms, etc. which makes me think they are chancing their luck and just trying to make a fee out not doing their job properly in the first place.

 

Any help is greatly appreciated!