Being charged to take house off market

davidmcn

We've had others posting here about similar requests. Yes, it's legal, though not by any means standard. It's also legal for you to say no. 

NameUnavailable

magicmary said:

jimbog said:

If you have a contract with their estate agent? What does it say?

They sent a “letter” via email saying it is an admin fee to all buyers to cover the costs of getting the sale process going ie. producing memorandum of sale, cancelling any booked viewings and removing the property from everywhere it is marketed. It is refundable if the vendor pulls out, but if we pull out or do not proceed quickly enough it is not. 

That's all the stuff they charge the seller for (apart from cost of cancelling viewings - that's just a few phone calls).

NameUnavailable

Is this a 'modern method of auction' sale?

magicmary

Thanks for the (mostly!) polite replies. 

It’s one of these budget agents who charge the seller next to nothing. 

Unfortunately in our eagerness to secure the property we paid believing we would lose it if we didn’t, but in hindsight seems we should have pushed back. Just feel like it’s a bit of an underhand tactic. 

Thrugelmir

magicmary said:

Thrugelmir said:

magicmary said:

No it’s not a new build. 

Care to elaborate then. Or were you just having a rant. 

Wow you sound like a delight.
What more would you like to know? The year it was built, how many bedrooms, where it is? I answered the question I was asked and confirmed it is not a new build property. 

More often or not in threads. Facts are dribbled out. Certainly an unusual request for a standard property transaction. Not one I'd entertain without good reason. Nor good business practice. Though sounds as if the Agent has a vested interest in the property or offers the vendor discounted fees for selling. . 

steampowered

It's quite common. A number of agents ask for a "reservation deposit" to take a house off the market - £1000 or so that you lose if you pull out.

I wouldn't pay it, but some agents try.

hippocrates1

They used to do that to us when we were students renting. They’re just playing on your desperation. It’s a sad practice. 

teachfast

I think it's shady and you should have refused, but as you paid there's not much you can do about it.

elsien

Do they define”not proceeding quickly enough” as that seems open to a wide range of variables particularly at the moment. 

davidmcn

elsien said:

Do they define”not proceeding quickly enough” as that seems open to a wide range of variables particularly at the moment. 

It also won't cover the 1001 legitimate reasons why a buyer might want to pull out. Probably just as much argument for the vendor paying the buyer a deposit before they start spending money on legals/surveys etc.