Buying : Who Do I Buy From?

WHO DO I BUY FROM

For your convenience click on any of the links below.

> Real Estate Agents
> Private Sellers
> Developers & Builders

• Real estate agents are your primary source of property.
• Always remember that they are paid by the sellers to achieve the highest price.
• They are bound by a statutory code of ethics and many laws.
• One of the codes is that they must be fair to all parties.
• They have an obligation to submit all offers.
• The statute does not state whether the offer is to be verbal or written. How the offer is submitted is the choice of the seller (vendor) and the preference is normally in writing.

• Buying from a seller who is selling their home privately may present some savings for example part of the agents commission.
• Have a legal adviser check the paperwork and if paying a deposit, it should be paid direct to the sellers’ solicitor or (under section 25 of the Sale of Land Act) paid into a joint bank account in the name of the seller and the purchaser within seven days.

• Many purchases are made "off the plan", for example the development is in the planning/building stage and not complete. Any deposit paid is immediately payable into a trust account. Unlike estate agents, many builder/developers may not have their own trust account. Monies must be paid into a trust account (usually the sellers solicitor).