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Springbok Properties - Premium Fast Sale - a good idea?
VicShill
Posts: 8 Forumite
Hi
I've found a house for sale for OIEO £40,000. The agent, Springbok Properties, says it has a buying system called 'Premium Fast Sale' with these benefits:
o "Works like a normal sale with a few security measures for both parties
o Focuses on speed
o Realistically priced properties
o Buy and secure it now option available - speak to our advisor today
o Transparent online bidding and simplicity
o First-time buyer and mortgage buyer friendly
o Chain buyers considered
o Mortgage buyers are welcome
o Reduces chances of fall-throughs & drastically reduce timescales for exchange
o Anyone can buy - not just cash-rich investors
o No risk of being gazumped
o Mortgage buyers and cash buyers compete on equal terms
o Focus and motivation on both sides
You can now secure the sale with a reservation deposit of £800, this forms part of the final purchase price. It is NOT an extra cost.
An administration fee of £96 draws up an exclusive legally binding contract between the buyer and seller giving the buyer exclusive rights to purchase within a given timeframe.
Paying the reservation deposit ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you, eliminating gazumping and the helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.
You get a fixed exclusivity period (approximately 4 weeks) in which you can arrange surveys and prepare to exchange contracts, safe in the knowledge that you will not be gazumped by another buyer."
Should I be wary of this type of scheme? I don't know whether it is legitimate or not, although the company does seem to have many good reviews. I worry that it is not a good idea to pay £800 upfront if subsequent searches reveal issues with the property. Or is it a good way to bag a bargain?!
Any advice would be appreciated.
Thanks in advance!
Victoria
I've found a house for sale for OIEO £40,000. The agent, Springbok Properties, says it has a buying system called 'Premium Fast Sale' with these benefits:
o "Works like a normal sale with a few security measures for both parties
o Focuses on speed
o Realistically priced properties
o Buy and secure it now option available - speak to our advisor today
o Transparent online bidding and simplicity
o First-time buyer and mortgage buyer friendly
o Chain buyers considered
o Mortgage buyers are welcome
o Reduces chances of fall-throughs & drastically reduce timescales for exchange
o Anyone can buy - not just cash-rich investors
o No risk of being gazumped
o Mortgage buyers and cash buyers compete on equal terms
o Focus and motivation on both sides
You can now secure the sale with a reservation deposit of £800, this forms part of the final purchase price. It is NOT an extra cost.
An administration fee of £96 draws up an exclusive legally binding contract between the buyer and seller giving the buyer exclusive rights to purchase within a given timeframe.
Paying the reservation deposit ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you, eliminating gazumping and the helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.
You get a fixed exclusivity period (approximately 4 weeks) in which you can arrange surveys and prepare to exchange contracts, safe in the knowledge that you will not be gazumped by another buyer."
Should I be wary of this type of scheme? I don't know whether it is legitimate or not, although the company does seem to have many good reviews. I worry that it is not a good idea to pay £800 upfront if subsequent searches reveal issues with the property. Or is it a good way to bag a bargain?!
Any advice would be appreciated.
Thanks in advance!
Victoria
0
Comments
-
I seem to recall a previous thread with these lot and yes you should run a mile.When using the housing forum please use the sticky threads for valuable information.0
-
It's not normal to ask for any money up front, and I suspect the only party it benefits is the estate agent. It might "form part of the purchase price", but are there any other circumstances in which you'd get it back?
2 -
Thank you. I shall give them a wide berth.0
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