i went to view a property this week. I've viewed this property before a while ago.
Between booking the second viewing and actually viewing it the estate agent said it had now become a sale under auction terms and conditions.
Now I'm your average person who hasn't a clue about this sort of thing and I also find the whole moving house stressful.
My house is sold. Contracts not yet exchanged but looking to complete in the next 6 weeks. Once this is complete I would be a cash buyer for this new property.
So I'm not in the position to exchange and pay a 10% deposit yet.
I explained this to the estate agent who said they would agree to an admin fee of a few hundred and a legal pack but I would be able to withdraw should my buyers pull out. I'd only lose the admin fee.
Is there gigantic pit falls that I need to be aware of if I agree this process? I usually do tonnes of homework but this has been sprung on me at the last moment. 