Purple Bricks

BMTH

Hi all, probably not the first post about PB, they have to be the most mixed reviewed company I've ever come across. They are like marmite.

For me, my experience hasn't be 'great' to say the least. My house went up of March this year at a ridiculous price, but on taking the agent's advice we gave it a whirl. Over the space of the past 8-9 months I've had it dropped about 5 times and had 1 whole viewing.

Anyway, for those of you not aware if your property doesn't sell within 10 months (I think it is) you have to pay the 'amazing low price' of £798 in full.

I'm now approaching my 10th month and ironically my payment is due to be taken out on 26th December (Merry Christmas me!).

However, what my real problem is that my circumstances have changed and I don't want to move now. Is there any way of postponing this money I owe them as if I come to take the property off that will be the biggest waste of money ever. It's frustrating as hell. Just wondering if anybody's had any similiar experiences with change of circumstances - might not even be with PB! I don't know if all agents are like this, excuse my naivety if so...

csgohan4

if you have to pay them as per your contract I'm afraid you have to pay it.
The way your house will sell is under the right price, seems your house was overpriced perhaps?

BMTH

csgohan4 wrote: »

if you have to pay them as per your contract I'm afraid you have to pay it.
The way your house will sell is under the right price, seems your house was overpriced perhaps?

Yeh, my own fault I guess. At the time I was more than happy to do it but as I say things have changed.

Not sure if it's worth moving back in with my Mum (if/when it sells) but the only downside there is I'm off the ladder. Just gutting knowing I'll lose that much money if I take it off.

ThePants999

Interestingly, PB valued our house 10% under what a high street agent valued and sold it for, far from the usual over-promise and under-deliver tactic.

Davesnave

It sounds as if you may be the type of buyer that needs their hand held, so they weren't the best agent for you.

In saying that, I mean that some of us would know how to research an appropriate price for our properties and the strength of the local market, so going in at a high price and subsequently reducing probably wouldn't have have happened. This excludes situations where something unusual occurs, as any sale may falter due to adverse events at national or local levels.

For the savvy, a national, one size fits all solution may be good, getting them onto Rightmove etc cheaply, However, employing a local agent at more expense won't necessarily guarantee a more successful result. It ought to, but ignorance and greed often conspire to stall the process.

In my locality, I watch houses going up for sale with local agents at what I'd call 'hopeful' prices, with hopeless presentation, poor photos and no floor plan etc. It's often longer than 10 months before they reduce and get sold, all with a fee of much more than £800.

There is no substitute for knowledge, whether its an agent's or a vendor's, but surely, if your situation's changed and you no longer wish to move, this has worked out well for you?

BMTH

Apologies for the huge bump but losing £800 (in the long term) you would consider has worked out well for me?

Nobbie1967

BMTH wrote: »

Apologies for the huge bump but losing £800 (in the long term) you would consider has worked out well for me?

If it had sold you would have incurred all,the extra costs of moving before your circumstances changed. This way you only lost £800.

Davesnave

What he said ^

HB58

We marketed our house through Purple Bricks. The local agent was very good and seemed to work 7 days a week. He priced it lower than a local bricks + mortar EA bit it seemed a realistic price. We accepted an offer very near to asking price 2 weeks after the house went on the market.

Unlike many EAs, Purple Bricks have no incentive to get the highest price - or any price - for your property as they are going to get paid anyway. I guess much of it will depend on the local contact, some will be better than others. Ours negotiated with the buyers for us and they promise to 'hand hold' through to completion if you want them to.

Of course, it's not over until we are all in our respective properties but we are certainly happy thus far.