Quokka Posted September 2, 2011 Share Posted September 2, 2011 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) . Quote Link to comment Share on other sites More sharing options...
mon-keyhanger Posted September 8, 2011 Share Posted September 8, 2011 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. Quote Link to comment Share on other sites More sharing options...
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