10:10 AM, 28th July 2022, About 2 months ago 20
Hi All, I have recently come across a ‘Modern’ online method of auction. The house to be sold was circa £225,000.
The online auctioneer was instructed by the vendor, but the fee of £6,000 was to be paid by the purchaser.
Now, this seems to be a big fee, but the client, the vendor paid no fee. The entire sales fee was paid by the purchaser.
Does this seem to be an enormous conflict of interest?
Is this not contrary to the law? And if not why not?
Please let us know.