Reply To: Agency commissions and distressed sale


The deal the agency did with the buyers is their private contract, weather they pay the agent 3%, 10% or whatever has no effect on the value of the sale in the deeds being 130k.

When your friend failed to pay his/her mortgage they then started the process of not being able to say what happens with the property. In the end the bank via the mortgage owned the property from day 1. They wanted to recover costs from non payment of 1 year, which they are entitled to.

You don’t invest in something if you don’t have enough money. yes the crisis has effected us all, but some win and some loose. Your friend has lost this time. It was just a bad investment. I’m not asking Hargreaves Lansdown for my money back when I invested in technology shares which are worth 5% of the initial investment. You take the good with the bad, nobody put a gun to their head, we did of our own free will.