Booking deposit for estate agency

kaya

Run away, why on earth would you be expected to pay the estate agent ? The seller is the one who pays their fees not you

mrginge

Gep wrote: »

Thanks for the advices guys, but:

1) I don't know who the seller is at this stage (the agency is not going to tell me...) so I can't send him a copy of the offer

2) the market is extremely competitive for buyers in London, so I'm a bit worried I might loose the flat if I don't pay

Is there a way to proove that asking for non-refundable deposit is actually illegal (maybe a link to some law website)?

It's not illegal.
Either pay up or walk away.
Everyone here is telling you to do the latter. If you want to think up half !!!!!d excuses why you should pay it then fine. There really is no more to say.

TrickyDicky101

mrginge wrote: »

It's not illegal.
Either pay up or walk away.
Everyone here is telling you to do the latter. If you want to think up half !!!!!d excuses why you should pay it then fine. There really is no more to say.

^ this. And if you do pay the NRD and the sale doesn't go thru, please don't come back complaining you've lost your money!

You should walk away - there will be other places that don't require such a NRD.

eddddy

Hi Gep

Make the offer in writing - the EA will almost certainly pass it on to the vendor (in spite of whatever they tell you).

And say: if the offer is accepted, you will forward the deposit agreement to your solicitor for checking before you pay.

I'd be 95% sure that no written 'deposit agreement document' exists - it's just a vague idea the EA dreamt up to rip-off desperate punters.

And if a written document actually exists, your solicitor will almost certainly read it and fall off his chair laughing (and inform the vendor's solicitor that you wont pay it).


Edit to add:

Or to put it another way - the EA thinks you a sucker and is trying to rip you off,

Sadly, they may still find somebody else to to sucker into paying them £3k. But that's life, I guess.

Credit-Crunched

2 options

Listen to people on here, don't pay it, the EA has clearly taken a punt on this fee, if 10% of potential buyers pay it, cachiiinnng

Don't pay it, advise the EA of your offer, and circumstances

option 2

Pay it, maybe secure the property and live happily ever after, or lose £3k of your money to an EA that is taking the michael.

If you don't think they will pass it on, leave a letter at the property advising them that you have made an offer and it is with the EA

Simples

Gep

Just wanted to thank everybody.
In the end I decided not to pay the reservation fee requested by the estate agency. The agency was not happy obviously, but eventually agreed on proceeding without the fee.