Over the weekend The Guardian published an article which criticised north-west London agency Elliot Lee for charging buyers what it calls a ‘client progression fee’.
The charge of £1,495 is paid by buyers after they have had their offer accepted and is reduced to £1,000 if they use the firm’s preferred solicitor and mortgage broker, The Guardian reports.
According to the Guardian, the document also states:
“This charge will be retained by us if from the time of payment we have not received written instructions from your solicitor within 72 hours and a survey has not been instructed within 21 days. Once the survey has been carried out … you will have up to 10 days to withdraw your offer and have your client progression fee returned. After this period, the client progression fee is non-refundable unless the vendor withdraws.”
Read the full Estate Agent Today article here
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