Another way to bleed you dry
Apr 14th 2014, 5:04 pm
#1
BE Enthusiast
Thread Starter
Joined: Jun 2013
Posts: 990
Another way to bleed you dry
Apparently it is becoming more common in the UK to charge both buyer and seller in a house sale. The seller pays a very small amount, say £150, and the buyer 2.5 PC. A double whammy for those who sell in Spain and move back to the Uk -huge commissions in both countries. In Spain, however both buyer and seller pay huge commission, even more greedy!
Is there no end to this greed ?
I hope people refuse to use estate agents who use these practices, laughingly called" introductory fees;" they have had years managing well enough without them!
Is there no end to this greed ?
I hope people refuse to use estate agents who use these practices, laughingly called" introductory fees;" they have had years managing well enough without them!
Apr 14th 2014, 6:22 pm
#2
Banned
Joined: Dec 2006
Location: Living in a good place
Posts: 8,824
Re: Another way to bleed you dry
Never heard of it in the UK. Do you have a link?
We were happy selling in the UK at 1.5% commission.
We were happy selling in the UK at 1.5% commission.
Apr 16th 2014, 7:32 am
#4
Senior Moment
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Re: Another way to bleed you dry
I've just sold in the UK and got a fixed rate deal. I've never heard of anyone charging a buyer here, and would not use an agent who does so. I would not buy through an agent who wanted to charge me either, I would just go straight to the sellers house and deal with them direct
In Spain there is absolutely no regulation whatsoever, and the agents there can charge who they want and what they want. they sell houses for more than the seller wants to sell them for, and pocket the difference. They are untrustworthy frankly, in my experience
In Spain there is absolutely no regulation whatsoever, and the agents there can charge who they want and what they want. they sell houses for more than the seller wants to sell them for, and pocket the difference. They are untrustworthy frankly, in my experience
Apr 16th 2014, 8:10 am
#5
Retired and loving it!
Joined: Sep 2007
Location: Ontinyent - Valencia region (campo)
Posts: 5,160
Re: Another way to bleed you dry
Isn't it just a question of how the charges are 'put across' - either way the buyer pays!
Provided you know what the deal is, then you offer accordingly - where's the problem?
It's just pure psychology.
Provided you know what the deal is, then you offer accordingly - where's the problem?
It's just pure psychology.
Apr 16th 2014, 10:45 am
#6
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: Another way to bleed you dry
Those who are renting out their UK "bolt-hole" whilst living in Spain also have letting agents who insist on raising a new set of charges to set up consecutive year tenancy even though the tenant hasn't changed or moved out.
Apr 16th 2014, 11:22 am
#7
Concierge
Joined: May 2006
Location: ex ex-pat, in Taunton
Posts: 27,212
Re: Another way to bleed you dry
Just found this from the Guardian, Feb 2014, but this was the only articel that mentioned it on a Google search, suspect it may be a bit of scaremongering.
http://www.theguardian.com/money/201...-double-charge
http://www.theguardian.com/money/201...-double-charge
Apr 16th 2014, 1:00 pm
#8
BE Enthusiast
Thread Starter
Joined: Jun 2013
Posts: 990
Re: Another way to bleed you dry
Just found this from the Guardian, Feb 2014, but this was the only articel that mentioned it on a Google search, suspect it may be a bit of scaremongering.
http://www.theguardian.com/money/201...-double-charge
http://www.theguardian.com/money/201...-double-charge
