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Modern Method of Auction - powered by iamsold Ltd
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deannagone said: It can work, but there are so many ways for this method of selling to be misused, its just not worth venturing the fee. The EA just collects the fee each time another buyer comes along and bids successfully. so its a very good proposition for them. The owner thinks its a good proposition for them because they don't have to pay fees, but they may not realise at first it means there will be very few buyers because of the risks for buyers and will raise a much lower price.It is not a method of selling that I would entertain, let alone buy a property...Book a viewing, and the tell the vendor to his/her face why you will not proceed with a purchase via a MMA. It might be possible to persuade them to use the traditional selling process, but IamSold will probably still want their cut.
Her courage will change the world.
Treasure the moments that you have. Savour them for as long as you can for they will never come back again.0 -
same here, never look at anything for sale via those methodsYoungBlueEyes said:When we were house hunting I saw a great house on RM. It was for sale by modern method of auction so we didn’t even view it.Have a search on here about it, read the threads that come up.
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The viewing will be with the agent not the vendor for a MMA propertyFreeBear said:deannagone said: It can work, but there are so many ways for this method of selling to be misused, its just not worth venturing the fee. The EA just collects the fee each time another buyer comes along and bids successfully. so its a very good proposition for them. The owner thinks its a good proposition for them because they don't have to pay fees, but they may not realise at first it means there will be very few buyers because of the risks for buyers and will raise a much lower price.It is not a method of selling that I would entertain, let alone buy a property...Book a viewing, and the tell the vendor to his/her face why you will not proceed with a purchase via a MMA. It might be possible to persuade them to use the traditional selling process, but IamSold will probably still want their cut.0 -
Always convenient, that. I have found the same, because I would definitely say something.Scotbot said:
The viewing will be with the agent not the vendor for a MMA propertyFreeBear said:deannagone said: It can work, but there are so many ways for this method of selling to be misused, its just not worth venturing the fee. The EA just collects the fee each time another buyer comes along and bids successfully. so its a very good proposition for them. The owner thinks its a good proposition for them because they don't have to pay fees, but they may not realise at first it means there will be very few buyers because of the risks for buyers and will raise a much lower price.It is not a method of selling that I would entertain, let alone buy a property...Book a viewing, and the tell the vendor to his/her face why you will not proceed with a purchase via a MMA. It might be possible to persuade them to use the traditional selling process, but IamSold will probably still want their cut.Everything that is supposed to be in heaven is already here on earth.
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Quite surprising that such a one-sided arrangement like MMA is even legal, but I guess that points to the level of regulation in the industry...0
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Unfortunately house buying has somewhat less regulation than other consumer fields, on the assumption that the parties have the benefit of independent legal advice - even though the practice in England & Wales seems to be that you only consult your solicitor after you've already made the mistakes...artyboy said:Quite surprising that such a one-sided arrangement like MMA is even legal, but I guess that points to the level of regulation in the industry...1
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