We'd like to remind Forumites to please avoid political debate on the Forum... Read More » 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.

The Forum is currently experiencing technical issues which the team are working to resolve. Thank you for your patience.

IAMSOLD - T&C's

LawAbiding Posts: 295 Forumite

22 August 2019 at 12:53PM in House buying, renting & selling

Hi,

I feel like I hijacked the other thread.

I have been on a property which is being auctioned by IAMSOLD.

I am not willing to pay the reservation fee of £6,000 if I was to win the Auction.

It looks like the Property was listed on IAMSOLD around Late November / Early December 2018.

We viewed the Property in late May via the EA who are working with IAMSOLD.

These are the T&C's I have found:

http://www.iamsold.co.uk/document-download/2470de548909489abcf8df45c71c9f40

Be it of a different property, but I guess it will be the default for all Properties.

I am considering approaching the Solicitor to make a private offer, as when I contacted the EA for a private offer, they shut me down.

If the seller was to accept our offer and sell the property to us without providing the 21 days notice, I assume he/she will be liable for the full "reservation fee" of £6,000.

However, if the seller was to provide 21 days to withdraw as its been more then 8 weeks. It reads, that as I was "introduced" to the property during the Sole Rights, the seller would have to pay a 3.5%+VAT fee for that introduction.

I am correct?

This discussion has been closed.

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Martin Lewis: Mobile and broadband mid-contract inflation hikes are BANNED – but there are winners and losers
Inflation-linked broadband, mobile and TV price hikes have been banned. It means some will see bills rise by a specified amount in pounds and pence going forward. However, MoneySavingExpert.com founder Martin Lewis has warned that many WILL still see above-inflation rises in future despite the new rules.
'Catastrophic' Council Tax debt collection practices to be investigated by Government – Martin Lewis says move is 'brilliant news'
"Catastrophic" Council Tax debt collection practices – that can see bailiffs at your door within six weeks demanding payment for the whole year despite missing just one month – are to be investigated by the Government. It's a win for MoneySavingExpert.com founder Martin Lewis and his charity the Money and Mental Health Policy Institute (MMHPI) who've campaigned against this rapid escalation.
MoneySaver's 'unbelievable' £675 refund from Complete Savings – how to check if you can claim too
MoneySaver Ray secured a £675 refund from Complete Savings after reading our warning about the 'cashback with a catch' site's misleading 'click to claim' ads. And Ray's not the only one, as we've been swamped with similar successes.
Origin broadband customer? You'll soon be moved to Utility Warehouse – here's what you need to know
If you're an Origin broadband and home phone customer, you'll soon be automatically transferred to Utility Warehouse – but your service will continue as before and you should keep paying your bills as normal.
Bank of England cuts base rate to 4.25% – here's what it means for your mortgage and savings
The base rate has been cut to 4.25% from 4.5% by the Bank of England. This rate is used by the central bank to charge other banks and lenders when they borrow money, so the move can impact mortgage and savings rates.
Is now a good time to fix your mortgage or should you wait? Brokers answer as rates continue to fall ahead of expected Base Rate cut
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further – and should you fix now or wait?
Fixed-rate mortgages continue to fall ahead of expected Base Rate cut – so do brokers think now is a good time to fix?
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further?
Martin Lewis: How to call your bank by dialling just three numbers
How to call your bank by dialling just three numbers… simply dial 1-5-9. Then you know it's legit. Watch MoneySavingExpert.com founder Martin Lewis' video below, which explains it. And please share – the more people know, the fewer will be scammed.
Martin Lewis: How to call your bank by dialling just three numbers – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.

View All

IAMSOLD - T&C's

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free