How To Beat The Commissions Charged By Estate Agents

Estate Agents regularly come in for stick - sometimes unjustifiably

, often not. When the housing market was last at its peak and house prices were rocketing, vendors could factor in the fees without detrimentally affecting the chance of selling their property. Consequently, the agents got away with charging substantial commissions for years. Now, when five or six thousand pounds might be the difference between a successful transaction or not, you do not find Estate Agents willing to be flexible with their share of the proceeds and, in fact, some agents are now charging as much as 2.50% to sell a property, claiming that the slow market has made things more difficult for them. Many vendors have had enough of this pay-when-you-buy and pay-when-you-sell scenario, and are going directly to property acquisition companies who provide a commission free service to buy their properties directly from them. These innovative schemes are springing up all over the British Isles, offering a solution for vendors who have run out of patience with their Estate Agent, or who have the need to sell a property quickly. Known as guaranteed home sale schemes, these programs are a welcome relief to anybody residing in an area flooded with discounted properties for sale, who cannot either wait an eternity for an agent to produce a sale for them or who acknowledges that they may have to reduce their property price even further in order for it to be competitive. Plus, of course, there are no commission or fees to pay to an Estate Agent!

The schemes work in a very simple way. Once a purchase price has been agreed between the vendor and the acquisition company, the program involves the immediate possession of the sellers property by the company, who will then take over any finance payments secured against it until the date of completion. This has the added benefit for anybody struggling to maintain mortgage payments, or those with the threat of repossession hanging over them, to free themselves of any mortgage arrears or commitment to debt. In some cases, guaranteed home sale schemes have been known to assist people who own a property in negative equity.

The number of instances in which a quick property sale through a guaranteed home sale scheme would be of value to vendors is growing all the time:-

* Property owners who wish to relocate for work, retirement or family reasons.

* Couples going through a divorce, who need a quick financial resolution in order to divide their assets.

* Accidental property owners (ie via an inheritance) who wish to release the equity from the property.

* Developers with large portfolios of unsold projects.

Indeed, anybody considering selling their property should investigate the opportunities available through a guaranteed home sale scheme. Not only does it facilitate a quick sale, but you should get full market value for your property, not be exposed to house sales collapsing due to a break in the chain and, maybe more importantly to you, beat the commissions charged by Estate Agents

by: Oliver Darraugh

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