Saturday, May 17, 2014

Buyers throwing their money away

Now families desperate to move to a bigger home face a £4,000 'finder's fee''

Families desperate to move to a bigger home are being forced to stump up a £4,000 ‘finder’s fee’ to estate agents, it has emerged....Soaring house prices have led to a surge in would-be buyers being asked to make their best offer on paper in secret. But estate agents are exploiting the demand by making the winning bidders pay an extra fee of 2 per cent of the property sale price.

Posted by hpwatcher @ 08:07 AM (3199 views)
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6 thoughts on “Buyers throwing their money away

  • And don’t forget on Tuesday the Conservatives (aka NASTI party) & Liberal Democrats voted against regulating letting agents and banning fees to tenants.

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  • Will the government legislate against these as opposed to tenant fees? Homeowners clearly need more protection than tenants…

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  • This is probably holding down house prices, if anything, since it comes out of deposits. For FTBs, and a lot of second-steppers, that reduces the amount they can leverage to bid on the house. You would think the sellers would realise this would go against their own interests.

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  • If the sell done the viewings & lying themselves they could save a fortune using hatched of another online agent.
    oosing one of the options below:

    1, £0 up front – Completion fee 0.6% -Minimum completion fee of £1200 applies
    2, £150 up front – Completion fee 0.3% – Minimum completion fee of £600 applies
    3, £270 up front – Completion fee £270

    We used option 3 to get shot of our old place, saved us a fortune.

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  • Its no surprise that sales are up and prices are bubbling just as Osborne has planned. Many of these new low paid EA jobs are supporting the Chancellor’s statements that lower employment is benefitting from our “recovery”.

    Again, this country is basing its prosperity on more speculation. I would have thought it better if Osborne encouraged British industry to make things people want.

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  • Again, this country is basing its prosperity on more speculation. I would have thought it better if Osborne encouraged British industry to make things people want.

    He tried that, and failed miserably – no growth at all……hence the housing boom.

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