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KeanRoberts

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  1. Hi. I am interested to know peoples views on the Modern method Auction and specifically the fees. I am looking to purchase a property that is being marketed by the Modern Method of Auction. It is a cash purchase and I have offered £65k prior to the auction. The guide price is £70k. The estate agents legally have to present this offer to the vendor. However I have noticed the auction house state that the reservation fee of a minimum of £6000 plus vat or 4% of the purchase price (which ever is higher) is still payable even if the property is sold prior to the auction. These modern auction fees seem high anyway and it seems wrong that they can charge these fees as opposed to the usual 1.5% a seller would pay if the property does not go to auction.
  2. Hi everyone New to using forums and fairly new to the property hub. I was recommended the Property hub pod casts by a friend a few months ago and have been addicted ever since. Swapping my daily radio 1 listening to listening to recent and past pod casts from Rob and Rob. I have 4 flats and a house that I have been renting out for years but only recently appreciated the potential I can still unlock from them. The podcasts have been inspirational and spurred me on to quit my career and follow my dream of property investment. Hoping to move things forward in an exciting direction. Kean.
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