The nervous wait to exchange....

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It almost feels like solicitors don't actually want to get it done ASAP. It's at the bottom of their queue until a few months in one gets their act together followed by the other and suddenly things move really quickly. All the chasing and escalating you did previously was worthless. :(
 
EvilRob said:
It almost feels like solicitors don't actually want to get it done ASAP. It's at the bottom of their queue until a few months in one gets their act together followed by the other and suddenly things move really quickly. All the chasing and escalating you did previously was worthless. :(
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Yea in a nutshell it can be done in a couple of weeks if solicitors worked on it for 6 to 8h a day.
 
EvilRob said:
It almost feels like solicitors don't actually want to get it done ASAP. It's at the bottom of their queue until a few months in one gets their act together followed by the other and suddenly things move really quickly. All the chasing and escalating you did previously was worthless. :(
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We had a really good experience with the lastsolicitors we used, especially in comparison to the ones we'd use when we bought our first house. For the first time it felt like they were actively trying to get things done rather than kicking the can down the road and waiting for something to happen.
 
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TNA said:
I don't get why anyone would do that unless there is something funky about the property. You won't get maximum price that way.

When we were looking we came across a few and immediately put us off. Even if a good price.
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Could it be that the auction fees work out much higher than the standard conveyancing/estate agent fee?
We experienced similar when selling my gran's Yeovil cottage: EA seemed desperate to auction it ("the amount of work it needs will put most buyers off"), but we were sure it would sell quickly at the price we felt was fair - considering it hadn't been updated in 40 years (despite our best efforts whilst she was alive).

It sold for £375k - similar sized properties were around £500k. EA was adamant it wouldn't sell above £250k and offered "to take it off our hands quickly" at £215k... (Bloody grief-leeches!)
 
RedMogg said:
Could it be that the auction fees work out much higher than the standard conveyancing/estate agent fee?
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definitely, isn't the standard EA fee something like 1.5% + a standard fee of £500-1000?
vs the auction fee of 4.8%+VAT (working out to be 5.76%)

i'm guessing you still have to hire solicitors/conveyancers for the auction as the EA does not provide that service even in an auction?
if so, that's literally an extra 4% creamed off by the EA for no extra work
 
RedMogg said:
Could it be that the auction fees work out much higher than the standard conveyancing/estate agent fee?
We experienced similar when selling my gran's Yeovil cottage: EA seemed desperate to auction it ("the amount of work it needs will put most buyers off"), but we were sure it would sell quickly at the price we felt was fair - considering it hadn't been updated in 40 years (despite our best efforts whilst she was alive).

It sold for £375k - similar sized properties were around £500k. EA was adamant it wouldn't sell above £250k and offered "to take it off our hands quickly" at £215k... (Bloody grief-leeches!)
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To me it has nothing to do with fees. Also EA just care about themselves. You keep hearing the line as a buyer that the EA works for the vendor. No. They work for themselves and happy to give the vendor advice that is not in the vendors best interest.

Auction style will put so many people off from even considering it that you will end up with less interest and a lower price in most cases imo.

A good EA would at least go the normal route and then if no success try something else. But as you can see someone will come along at the right price and buy it anyway.
 
TNA said:
To me it has nothing to do with fees. Also EA just care about themselves. You keep hearing the line as a buyer that the EA works for the vendor. No. They work for themselves and happy to give the vendor advice that is not in the vendors best interest.

Auction style will put so many people off from even considering it that you will end up with less interest and a lower price in most cases imo.

A good EA would at least go the normal route and then if no success try something else. But as you can see someone will come along at the right price and buy it anyway.
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As soon as the EA offered their "fair price for a quick sale" we smelled a rat - although the property itself needed a lot of internal work to update, the structure was sound (and the 2½ acres more than made up for the outlay).

We thought about a higher price, but we were already well over the inheritance tax threshold and I didn't feel like handing any more to the taxman.
 
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tamzzy said:
@Hagar not so sure, normally also inhabited by druggies shooting themselves with god knows what and random needles lying all over the place
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I guess it depends on the graveyard: "Dead centre of Portsmouth, behind the big Lidl" versus Dorset village church...

"...these aren't just discarded needles, these are Marks & Spencer free-range hyperdermics, for the discerning, privately-educated smackrat with a double-barrelled surname"
 
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Macky said:
Anybody been asked to do a digital ID check by the vendor's estate agent before at cost?
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Yeah. Out of like 6 estate agents we looked at one asked for this. They were also the ones who talked the most ******** out of the lot of them. Coincidence?

It should be no sale no fee. Simples.
 
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