Free agents 24/7

[kwaziseyepatch]

Currently house hunting and there seem to be lots of properties I like listed with this estate agency. Basically the vendor pays nothing but the buyers have to pay a purchase fee of 1% or £250000 which ever is higher. I find this sooooo cheeky as if we did buy one through them we'd have to pay estate agents twice, including a much bigger commission for our onwards purchase. Is this becoming a thing!?
I wouldn't list with them myself as wouldn't want to put buyers off

As a buyer: fuck that!

£250,000 - are you sure??!

Only with buying agents. Never heard of buyer having to pay selling agent a 1% fee on top of purchase price (and assume £250,000 is a typo).

£250000 can't be right

It's a weird way of doing things. Why not just charge the vendor the 1% as normal which comes out of the purchase price. This seems to be achieving almost the same thing in terms of fees but risks confusing and putting off buyers.

Assume you mean £2,500! But as a buyer... not a chance unless it was an absolute gem, or absolute steal, of a property.

Yes sorry meant £2500!!! Long day

I know - the houses listed don't seem to be good value right now but there's some quirky ones. It's not that obvious so maybe people will get sucked in and commit emotionally before they realise

Interesting business proposition. A bit like running with the hare and hunting with the hounds.