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First Time Buyer Instruction Fee
claire1973
Posts: 56 Forumite
Hello
We are first time buyers and have just had our offer accepted on a property. The estate agent has said that I have to pay an instuction fee of £50 plus vat, can anyone tell me what this is for?
Many Thanks
We are first time buyers and have just had our offer accepted on a property. The estate agent has said that I have to pay an instuction fee of £50 plus vat, can anyone tell me what this is for?
Many Thanks
0
Comments
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That's not something I've ever heard of. Can you ask the EA what it is for and why it is necessary?0
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!!!!!!!!!!!!!!!!!!!
Erm for taking the pee I think.
Are they a long standing EA?0 -
I am waiting for her to call me back, I have tried searching online but found nothing. All she said is because your offer has been accepted you need to pay us an instruction fee for going ahead?
Thanks for replying0 -
Its Haart Estate Agents0
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Don't pay it.
Please. It's a horrible idea.
The seller pays fees to the EA to sell their house. The buyer buys the house.0 -
Tell the EA that the vendor employs them, not you.This is an open forum, anyone can post and I just did !0
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I think you will find this is a made up fee to make the EA a little more cash!
The EA is paid by the Vendor, so taking money from you as well to tie up a sale sounds well dodgy.
Please post what they tell you before you pay up.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Yep, I'm a FTB and just exchanged on house, and at no point were we asked for fees by the EA - don't pay it!0
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Just seen your other posts while I was typing.
Haart are a big group and have been in trouble a lot recently with their adverts breaking rules.
I suspect they are just trying another way to make some money.
Dont pay it. They are relying on you thinking: Well I'm paying £100,000 for a house, whats another 50 quid here or there?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Don't pay it. Its a scam. they get paid by the vendor to do what they need to to set up a sale. The buyer shouldn't have to pay a penny to the Vendors agents!
Report them to the governing body too! Its unethical.0
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