To facilitate the purchase of a property through Shelton & Lines, the costs are shared between the Vendor and the Buyer.
The Vendor’s fee covers all of the property marketing, offer negotiations, accompanied viewings, personal feedback, advice and compliance.
The Buyer’s Fee covers the administration involved with agreeing your purchase, property revisits, sales progressing, liaising with mortgage lenders, legal representatives, surveyors and arranging professional property inspections that maybe required. Compliance with anti money laundering regulations.
Should any issues arise, we will work closely with you and the appropriate external bodies to resolve them as swiftly as possible. In addition, if you have any general enquiries with the sale or chain, we will work to the best of our ability to help. During this period, the conveyancing can take place in preparation for the exchange of contracts.
The Buyer’s Fee helps protect the Buyer and the Vendor. It’s a non-refundable amount (unless for the reasons stated below), made by a Buyer to ensure the exclusive purchase rights to a property, under certain conditions and at an agreed price.
Please note; when the Buyer’s Fee has been paid and all required information has been provided to us to our satisfaction in respect of finances and identification in line with anti-money laundering regulations the marketing will cease and the property will be listed as Sold Subject To Contract (SSTC) as soon as possible and no other viewings will take place. Shelton & Lines does not endorse gazumping in any way and should this happen, Shelton & Lines's promise is to completely cease their involvement with the property sale.
The buyer’s fee is set at £480.00 inc V.A.T.
Our Vendors are reassured that they have a committed Buyer and are in a very secure position to move forward with their onward purchase. And, where relevant, are able to serve appropriate notice to tenants. The Vendor will also have the benefit of knowing the fee will cover a proportion of the costs they may incur if the sale does not proceed to completion. Although with the Buyer’s fee paid, this is much less likely.
Ultimately, everyone benefits from a smoother and more secure sale. Without the security of a Buyer’s fee, the risk of a property sale falling through is higher, in fact, the figure is over 33% as a nationwide average. However, 91% of Shelton & Lines’ property sales complete successfully.
We understand there are always going to be circumstances in which a sale does not proceed to completion.
You are free to leave the purchase process and be refunded the Buyer’s Fee in full if:
Structural defects are found during surveys of the property
There is a defective legal title
Information gathered by usual searches affects the value of the property
The Vendor withdraws from your purchase
There is no complete onward chain agreed within ten weeks from the date of memorandum of sale
The Buyer's Fee will be paid to Vendor in full if;
The Buyer pulls out of the purchase for none of the reasons listed above
The Buyer's downward chain falls through
If renegotiation of the sale occurs and agreement cannot be reached by Buyer and Seller