has anyone used sale by tender SELLING OR BUYING

[tuscan66]

seems a popular way to go at the moment! any one had success ? cheap for the seller as the fees seems to be reversed buyer pays a 2% + vat finders fee. we will be selling soon but not sure if this will simply mean buyers will reduce their offers to allow for the fees. 2% is higher than the usual 1-1.25% standard seller fees, any views and experience on this will be gratefully received, thanks all

[Sarnie]

I have a client I've processed a mortgage for this week. Sale by tender, they won the bid at £240k and now have to pay £4,800+VAT on completion in addition to the usual Stamp, Solicitors fees and surveys etc.

Clients seem happy to pay it and seems indicative of the SE area at the moment although I nearly fell off my chair when she told me what she was paying........seems a bit exploitive to charge buyers more than they would normally charge a seller.....

[tuscan66]

exactly what I thought how ever sellers would add to the ask price enough to cover the selling fees and negotiate from there using the usual selling set up. sellers can negotiate the agents fees so wonder if this is still possible for buyers to do on a sale by tender? If I were buying would at least ask the question after all 1.5% is better than no sale ! For the £150 + vat I may give the sale by tender a try , again offers coming in would reflect fees from who ever pays them I suppose? suck it and see I think
Any one else out there any views !!! thanks all

[Sarnie]

I'm not sure about it to be honest.

Most people I speak to are just about able to put together a deposit plus pay the stamp duty etc let alone finding an extra 2% of the purchase plus VAT!

[vescaegg]

It's everywhere at the moment in Surrey. As if buyers don't have it hard enough at the moment already?!