We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Paying Tender Fees
Stormyroo
Posts: 1 Newbie
Hiya
I have just had an offer accepted that I made as part of a "Sale by Tender". It came with an "introduction" fee of 2% +VAT (or £2000 whatever is greatest) payable to the estate agent on exchange of contracts. After negotiating hard on the sale price I reluctantly agreed to pay the intro fee; I had little choice if I wanted the property.
When I was thinking this all through in my head before submitting the tender, I thought I would put the tender fee on a 0% credit card and pay it off over a couple of years, thus not touching my savings which I would invest in the property, albeit I would have a tender fee to pay. Now I have the letter it says I do not pay the estate agent, but must transfer the money to my solicitor. Does anyone know whether I stand a reasonable chance of putting this on credit or whether I would need to arrange a cash transfer instead (and probably get a low interest loan out to cover it).
I have just had an offer accepted that I made as part of a "Sale by Tender". It came with an "introduction" fee of 2% +VAT (or £2000 whatever is greatest) payable to the estate agent on exchange of contracts. After negotiating hard on the sale price I reluctantly agreed to pay the intro fee; I had little choice if I wanted the property.
When I was thinking this all through in my head before submitting the tender, I thought I would put the tender fee on a 0% credit card and pay it off over a couple of years, thus not touching my savings which I would invest in the property, albeit I would have a tender fee to pay. Now I have the letter it says I do not pay the estate agent, but must transfer the money to my solicitor. Does anyone know whether I stand a reasonable chance of putting this on credit or whether I would need to arrange a cash transfer instead (and probably get a low interest loan out to cover it).
0
Comments
-
Regarding your solicitor paying the EA fee - if it said that on the agreement you signed, you must do it. If it didn't say that on the agreement, you don't have to do it.
Regarding the 0% £2k credit card etc - why not just buy DIY stuff, furniture, and everyday spending on the card? And pay the EA's fee from your bank.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards