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Quokka

Auctions

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Just noticed this online auction site as they have listed a house that has been unsellable for 3+ years. Their selling point (to the vendor) is that the buyer pays the fees, but at 5% isn't the fee twice the going agency rate?

Check the site out below.

http://greatnorthpropertyauction.iam-sold.co.uk/

5% paid within 48 hrs of auction completion (this is a reservation fee and does not form part-payment of the final selling price)

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Just noticed this online auction site as they have listed a house that has been unsellable for 3+ years. Their selling point (to the vendor) is that the buyer pays the fees, but at 5% isn't the fee twice the going agency rate?

Check the site out below.

http://greatnorthpropertyauction.iam-sold.co.uk/

Seems all a bit pointless and strange for the wised up buyer.

I have seen most of these properties available currently with EAs at these base prices.

So the buyer is going to join bidding war when he or she can make a lower offer to an EA WITHOUT the binding ridiculous 5%. NOT NOT NOT

OR maybe people are as thick as they are assuming. :(

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