06/09/2024
The so-called "Modern Method of Auction", a marketing ploy that may not be a scam, but certainly doesn't benefit buyers and sellers as much as it claims to. In reality, it seems that the auction house and estate agent are the ones reaping the rewards.
This method involves selling a property through an online auction, but the process is similar to a traditional estate agent sale. The catch is that once the initial bid is accepted, the buyer must pay a non-refundable reservation fee of 3.5% + VAT, with a minimum of £3,000 + VAT.
Additional fees are typically paid by the seller upon completion of the sale, ranging from 1% to 2.5% of the purchase price, depending on the estate agent. The terms also require parties to exchange within 28 days
2 bedroom end of terrace house for sale in Stanley Road, BOURNEMOUTH, Dorset, BH1 for £200,000. Marketed by Palmer Snell, Boscombe