Property News · February 4, 2017

property ombudsman estate agents charge buyers deposits


Homebuyers are being hit with demands for hefty payments to ‘show they are committed’. And changes to the Property Ombudsman’s code of conduct could make matters worseIf you were putting in an offer on a house, how would you feel if the estate agent asked you to hand over £1,000 to prove you were a “serious” buyer? Would you pay up, or assume this was illegal and tell them where to get off?Growing numbers of homebuyers are in effect being charged for the privilege of having their offer accepted, when the agent is already pocketing a fee from the seller. And if the buyer ends up pulling out – for example, because the survey reveals a problem with the property – they often lose all the money or only get back a small part of it. Continue reading…

Source : theguardian.com
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