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we don't have those problems in the UK where Estate Agents are not regulated and fixed fees ala purple bricks are getting popular
by walshemj 9y ago
we don't have those problems in the UK where Estate Agents are not regulated and fixed fees ala purple bricks are getting popular
- jhayward 9y agoThat's an interesting observation. I do wonder if there isn't some congruent regulatory mechanism keeping things in line. Out of curiosity, what would a typical set of transaction fees be for buying and selling a property? In my area (US/TX) it is nominally a 3% fee to the agent plus no more than 2% of the transaction for all other costs including financing, title insurance, etc.
- walshemj 9y agoBetween 1.3 and 1.8 % plus VAT at 20% plus £400/500 for a survey. Other costs vary by what mortgage you get but I add 1 to 2K. Plus stamp duty You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000. seems high but property taxes are tiny when compared to the USA