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…There are a number of organisations that will make you a verbal offer, but then insist you pay an 100 000 dollar personal loan price for their surveyors valuation (anywhere from £200 £600) before theyll put an offer in writing.
They will usually phrase it as a refundable payment for valuation which sounds fine its refundable after all. However, because the money is only refunded if you accept their offerthis system is wide open to abuse. Companies can pocket a quick £200 by making you a strong verbal offer and then lowering it after youve paid for the valuation.
Do that a couple of times a day and you have a business that doesnt even need to buy any property to be profitable. We highly recommend you steer clear of any home buying service that asks for an upfront payment of any kind.
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