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problems with gazumping

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  • toothe
    toothe Posts: 76 Forumite
    chickmug, i mean would this technique be used to try and make us raise our offer (more commission)
  • chickmug
    chickmug Posts: 3,279 Forumite
    toothe wrote: »
    chickmug, i mean would this technique be used to try and make us raise our offer (more commission)

    How much higher could they try and get -- £5000 -- and if they are on 1.25% it means they would earn and extra £62. Sorry but really this small amount is just not worth risking the EA losing the sale. Unless they are barking:confused:

    But they are duty bound to report all offers and to seek their clients (the sellers) instructions on how to proceed. A better offer to start from scratch v you ready to exchange. Again the agents and the sellers would be barking unless it was a substantially better offer.
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • toothe
    toothe Posts: 76 Forumite
    hmm yeah i guess, some estate agents charge 3%. seems good atm, the other people had offer rejected or pulled out so we on the go, hopefully contract exchanged soon
  • chickmug
    chickmug Posts: 3,279 Forumite
    toothe wrote: »
    hmm yeah i guess, some estate agents charge 3%.

    Tell me where in the country at 3% and I will set up business there. But even if they did the full commission on what you are paying is better sooner than running risk of a bit more at some future point.
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • Beki
    Beki Posts: 917 Forumite
    good luck toothe - hope it all goes smoothly from now on :)
  • alexlyne
    alexlyne Posts: 740 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    My house worth 85K, with a EA charging 2300 + vat. = 2.7% (ex vat) - so close! (South Wales)
  • toothe
    toothe Posts: 76 Forumite
    yeah seen a couple of sites saying 1.5-3% commission, guess it depends largly on house prices in the area, i mean stoke id dirt cheap so high commission wont give as much as high commision on say chelsea.

    Looks good so far, hopefully contracts exchanged tommorro. their sol is dragging their feet a bit.
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