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Keith pattinson
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my expertise in the industry

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Keith pattinson
It is accepted practice,for the Government and councils when they buy to pay the sellers agents and solicitors fees. Fees are paid by the buyer in the case of property compulsory purchase,and in case of any chatels auction buyers premium of around 20% is applied. In cases of fine art commanding millions the seller will sometimes pay nothing. There is no such thing as free,a buyer paying £1000 to the selling agent will deduct this from the price they offer.Theytake into account stamp duty,legal fees,too. When the Government in a budget reduces taxes to one group,it has to increase taxes to another. Money does not grow on trees,and services have to be paid for. It is refreshing to see people accepting discounters,whether agents grocers,or modern web based businesses. Specsavers are a great example of efficient,and revolutionary business ,taking over from traditional opticians. It is happening in other industries. So a rise in stamp duty in the past caused sellers to reduce their offers. The same applies to sellers,they get an offer,and should think,after fees I will get £x in my hand. A seller charging buyer will still be working for the seller. Contribution to legal fees seems to becoming the case with some councils,water boards etc. The Cost of Leases Act was brought in to clarify tenants contribution to landlords legal fees. People taking a mortgage now are charged an admin fee,which has come in within the last 20 years. Times change,people have choices,but deposits generally,would improve the system,where buyers gazunder and drop out,causing stress to sellers,even in a rising property market we hear little of gazumping. I smile when I see "no commission " foreign money exchange,Sell at 1.5 to £1,buy at 20,so £10 gets you 15 euros/dollars whatever,trade the 15 back,and get £7.50. Let people be free,the seller receives less if buyer pays agent,so hopefully seller aware and happy by not paying agent so much..There seems to be naivety by the public in many areas,I agree with charging £10 plus for cigarettes,but stopping agents charging tenants letting fee will only increase rents.

From: Keith pattinson 08 June 2015 19:17 PM

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