If you’re taking pictures with an estate agent, then you’ve likely overpaid
Here’s Why
My feed is flooded with pictures of first time buyers having their pictures taken with estate agents handing over sets of keys after the purchase of a house has completed.
I can see the obvious benefit for the estate agents as they are using the pictures to promote their business on the various social medial platforms.
But why on earth would a purchaser want to help an estate agent in promoting their business?
And therein lies the crook of the issue. The estate agent is acting for the seller not the purchaser and many purchasers forget this. They are plaumaused by the sweet talking estate agent in thinking they are on their side.
The estate agent has a duty to their client to get the best price possible for the property and to extract as much money as possible from the purchaser and indeed, Irish estate agents don’t have a requirement to deal with the offer process in a transparent and verifiable manner.
They use all sorts of tactics to increase the price. You’re the highest bidder on the property and the seller will let it go if you increase your offer by €5k.
If someone was causing me to overpay for a property, I certainty wouldn’t be taking a photo with them so they can promote their business.
Instead, take a photo with your solicitor - someone who is actually on your side!
further reading
- Critical things to consider when buying or investing in property with a friend.
- Can you buy auction property with a mortgage?
- How to switch your mortgage
- Top tips for selling your house
- What are the costs and outlays when switching your mortgage?
- Buying an apartment is different to buying a house. Here's why!
- How to Claim Adverse Possession in Ireland
WHY CHOOSE ROE SOLICITORS?
We have extensive experience in dealing with all matters relating to conveyancing and buying and selling properties. For specific legal advice on buying a property from a receiver or insolvency practitioner,then please get in touch today.
