Jump to content
House Price Crash Forum
Sign in to follow this  
mjhodgson

Sealed Bid Barmyness...

Recommended Posts

I can across this (a somewhat overpriced #~!?hole) in my search area on sale by sealed bid:

http://www.rightmove.co.uk/property-for-sale/property-59044556.html

If you look at the bottom, there is a link for the "bid pack".

In there, point number one:

"An Introduction Fee of 1.60% + VAT of the contracted sale price or £3,000.00+ VAT (whichever is greater) will be payable by the buyer if the bid is accepted and a sale results at any time and at any price, irrespective of when a bid is received or whether the final sale price differs from the original bid. The Introduction Fee must be budgeted for in addition to the bid sum; it is non-negotiable and will not be waived in any circumstance."

So, I want to buy I have to pay a small fortune (plus VAT) for the privilege? Is this common?

Does the seller have to pay agents fees too?

I think I give it a miss....

Share this post


Link to post
Share on other sites

In a similar vein I have had to pay £125 for a "seller's pack" to sell my property because the carport is leasehold. The house is freehold. This was a new-build in 2008.

I will not be buying anywhere which isn't 100% freehold from now on. :)

Share this post


Link to post
Share on other sites

Previous sale prices:

28 Sep 2012 £200,000 254.0% 129.8% 05 Aug 1997 £56,500 n/a n/a

Seller only looking for another 70% increase in less than 4 years. Snap it up , looks like a bargain.

:blink:

This country is f****d

Share this post


Link to post
Share on other sites

I'm looking to sell basing on approx 2.75‰ per annum "cost of inflation" matched to real term inflation. So, whilst ending up ideally with the same amount in real terms, we will have paid some £164,000 in interest over the life of the tenure to the banksters. Who's the winner here then?

Stupid me. Wish I'd known this then. It was before I discovered HPC.

Thus, for that reason, I'm out, and moving to STR as the price for a house suitable for my growing family's "wish list" ( I won't say needs as they are generally wants over needs - as we can all survive in a bed like Charlie bucket) is over £850k and frequently around £1m locally. Please don't play the entitled card as I've average 60 to 100 hours a week over the last 10 years.

So we will Rent and sit it out and then do a self build when things are more reasonable.

Share this post


Link to post
Share on other sites

Estate agents do not seem to be doubling up. The buyer pays, plus vat. I expect that the offer that the buyer will put through should reflect some element of the purchase cost as well as they have to finance it. It looks like the final sale value of the property ( from reading the small print) will include the purchase cost plus estate agents fees plus VAT and that is what wll be recorded on the land registry indicating final house price is artificially reported even more by another 1.8%.

It seems so many ways to keep the reported house price inflated are being tried. We must stop reported values from falling!

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   212 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.