Re: Re: more questions ….

#64800
Chris M
Participant

@karenmcc wrote:

Just a couple of questions…….With regard to the upfront conveyancing fee……what happens to this money if the property does not sell at all through any route – is there a refund after a stipulated period?

Also, for a potential buyer browsing the V website how do you distinguish between those properties which are priced with 2% and those which have the higher 7.5% 😕 ?

Dear Karenmcc,

I think I touched on this in an earlier post to Katy, but there have been so many now I can’t be fully sure.

The conveyancing deposit is non-refundable, we are all assuming that you are going to sell the property, we begin that process for you immediately, and we and you will do everything possible to achieve that goal, so it is a deposit against our time, effort and work on your behalf.

However whilst there is no time period for a return, nor is there a time period for your success, if it takes a year then we are still here and ready to do your conveyancing, taking into account the deposit you have paid.

We hope one element of advantage to buyers here, is that they will appreciate that the vendor that has paid their conveyancing deposit, and has made a real commitment to the sale process, and therefore that listing is a real and active seller, looking for a buyer, not speculating and chancing their arm.

As to the website, as previously stated we are now contacting and re-listing all of our vendors – one by one – if a vendor does not want to move to 2% then we will remove them from our website, we do not want any confusion between 2% and 7.5% for any longer than is necessary or inevitable.

If as yet un-contacted, and we make an arrangement to view with a client, and because our property negotiators have personal re-listing targets to hit, a vendor will (or goodness help the property negotiator) be offered the opportunity to re-list in advance of the viewing.

Quite frankly, and honestly, there may be the odd hiccup here but we will do our best to avoid this, as some people may say no, but we are duty bound to show the property to the buyer, however that will be the last buyer we show to that property.

Good question, thanks.

Chris