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Corsa Sport » Message Board » Off Day » House Day » Sale by Tender » Post Reply
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Graham88 |
posted on 24th Mar 14 at 03:10 |
quote: That's what I'm thinking, it seems frustrating effectively paying more, but unless something goes wrong on my end then nobody else can do me over! quote: It's technically no different to how it's normally done anyway? The sellers usually pay fees out of whatever money they get from the sale. So it would be all 'declared' and above board. | |
John |
posted on 23rd Mar 14 at 14:22 |
If that was all declared properly, I'm not sure the mortgage people would want to be paying the fees as part of the mortgage. | |
Ben G |
posted on 23rd Mar 14 at 09:22 |
I'd prefer to do that to not have the worry about some billy big bollocks coming in and offering more. | |
Graham88 |
posted on 23rd Mar 14 at 01:53 |
Basically had a chat with Wards today and they explained this a bit better. Say I wanted a house but wanted to keep the cash to spend on the house, if I was going to offer 180k, I'd offer 185k and state I want the owner to pay the fees. So technically I'm paying extra but it means it's on the mortgage rather than needing £4500 cash before you've even spent anything on the house. | |
JM_16v |
posted on 17th Mar 14 at 13:44 |
In the area I was looking at its a real sellers market. | |
Marc |
posted on 14th Mar 14 at 09:21 |
I went through all this and ultimately didn't go ahead with it. Reason being they wanted a £6000 holding fee, which included their legal fees but no survey would be done until after the sale was agreed. | |
Graham88 |
posted on 14th Mar 14 at 09:18 |
quote: Yeah I can understand that sort of bidding from a sellers point of view, it also stops a budding war aswell. It's the fees that are stupid like you say, still going to have another look at the place but offer 5k less based on the fees that need paid. | |
baza31 |
posted on 9th Mar 14 at 21:39 |
It's just another selling method which is generally better than auction .for eg they get two offers one at 180k and another at 195k , if that was auction and 1st bidders max was 180 bidder two would get it for 181 . It's doesn't mean the house is dodgy it's just different to the conventional way. As for 4k selling fees that's a joke . | |
AndyKent |
posted on 9th Mar 14 at 18:29 |
It's usually something more suited to farm and business sales, perhaps something the agent is more suited to? | |
Graham88 |
posted on 9th Mar 14 at 15:58 |
Seems to be something Ward & Partners do with most of their homes. | |
AndyKent |
posted on 9th Mar 14 at 08:27 |
Sale by tender doesn't automatically mean this is the case, just what has been agreed between agent and seller. | |
Graham88 |
posted on 9th Mar 14 at 05:29 |
Basically means you pay the estate agent fees which is £2000+ vat or 2% + vat, whichever is greater. In my case it's roughly £200,000 so that works out £4000 + vat. Which is fucking ridiculous tbh not sure why I should have to pay it. But the annoying thing is the fact you have to pay out of your pocket you can't seem to put it onto the mortgage. Is there a way around it? |