Chigbo Johnbosco’s Post

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Woooow whoever wrote this on the listing clearly doesn't know anything about UK regulations. My next question is if it was on Rightmove or Zoopla (part of Houseful) how can they accept this listing in the first place? Let's analyse this in depth. 1. I would love to see their terms firs of all and to speak a solicitor to see if there is anything illegal. 2. The buyer pays the deposit to his solicitor only before the exchange of contracts. They probably wanted to confuse everyone, £2500 is a reservation fee paid to the developers account or their selling agent when their AML check has passed. It's illegal to do it before. 3. There are no additional non-refundable fees from buyers. Unless this guys are buyer agents, which is different and all the fees should be explained to the client clearly beforehand. And it definitely shouldn't be written on a property listing. 4. Coming back to their terms, I would love to know what kind of surveys they are fircing buyers in their terms? 5. Again there is breach of regulations when they are forcing a buyer to work with rheir solicitor who is already instructed. What happens if thwir appointed solicitor will be a fraud and once the buyer pays everything they will disappear together with an agent? Thats why own main role as qualified and regulated professionals is to educate our clients of rules and regulations and thus case is a great example for me personally. And that's why emoloyers and developers shouldn't be asking why some of us want to be qualified and regulated in the property industry, but help and support us.

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