Purple bricks fees; Purplebricks is a UK-based online estate agent that offers a fixed-fee service for selling and letting properties. The company has gained popularity in recent years due to its competitive pricing and user-friendly platform. However, one area of concern for potential customers is the fees charged by Purplebricks.
According to Purplebricks’ website, the company charges a fixed fee of £999 (inc VAT) for selling a property, regardless of the property’s value. This fee includes a dedicated local expert who will provide support throughout the selling process, professional photography, floor plans, and a listing on major property portals.
While this fee may seem low compared to traditional high street agents, it is important to note that additional fees may apply, such as conveyancing fees and the cost of an Energy Performance Certificate (EPC).
It is worth noting that Purplebricks’ fees are not the lowest in the market, with some online estate agents charging as little as £495 for a similar service.
However, it is important to consider the level of service provided and the reputation of the company when choosing an estate agent. Potential customers should research and compare fees and services before making a decision.
Understanding Purple Bricks Fees
What Are Purple Bricks Fees?
Purple Bricks is an online estate agent that offers a fixed fee for their services. This means that they charge a set amount for their services, rather than a percentage of the sale price of the property.
The fee covers the cost of advertising the property, arranging viewings, negotiating with potential buyers, and handling the paperwork involved in the sale.
How Much Are Purple Bricks Fees?
According to the Purple Bricks website, their fees start from £999 (inc VAT) for their basic package. This includes a dedicated local property expert, professional photography, a floor plan, and advertising on major property websites such as Rightmove and Zoopla.
They also offer additional services, such as accompanied viewings, premium listings on property websites, and a dedicated sales progressor, which can increase the overall cost of their services.
The exact cost of these additional services will depend on the location of the property and the specific package chosen.
It is worth noting that there may be additional costs to consider when selling a property, such as conveyancing fees and an Energy Performance Certificate (EPC). These costs are not included in Purple Bricks’ fees and should be factored into the overall cost of selling a property.
Overall, Purple Bricks fees can be a cost-effective option for those looking to sell their property, particularly if they are comfortable with handling some aspects of the sale process themselves.
However, it is important to carefully consider the additional services offered by Purple Bricks and any additional costs involved in selling a property before making a decision.
Benefits and Drawbacks of Purple Bricks Fees
Pros of Purple Bricks Fees
Purple Bricks offers a flat fee structure that can save sellers a significant amount of money compared to traditional high street estate agents. The fee charged by Purple Bricks is fixed, regardless of the sale price of the property. This means that sellers can save thousands of pounds compared to paying a percentage-based commission to a traditional estate agent.
Another benefit of Purple Bricks fees is the transparency of the pricing structure. The fees charged by Purple Bricks are clearly stated upfront, so sellers know exactly what they will be paying before they sign up for the service. This can help to avoid any surprises or unexpected costs further down the line.
In addition, Purple Bricks offers a range of packages that cater to different needs and budgets. This means that sellers can choose the package that best suits their requirements, whether they want a basic package or a more comprehensive service that includes professional photography, a dedicated account manager, and more.
Cons of Purple Bricks Fees
One potential drawback of Purple Bricks fees is that they are non-refundable. This means that if a seller decides to withdraw their property from the market, they will not receive a refund of the fees paid to Purple Bricks. This can be a concern for some sellers, particularly if they are unsure about how long their property will take to sell.
Another potential drawback of Purple Bricks fees is that they are charged upfront. This means that sellers will need to pay the fee before their property is listed for sale. While this can be a benefit for some sellers who want to avoid paying commission, it can be a challenge for others who may not have the funds available upfront.
Finally, it’s worth noting that while Purple Bricks fees can be lower than traditional estate agents, they are not always the cheapest option available. Sellers should compare the fees charged by Purple Bricks to other online estate agents and traditional high street agents to ensure they are getting the best value for money.
Overall, while there are both benefits and drawbacks to Purple Bricks fees, they can be a good option for sellers who want to save money and have more control over the selling process.
Comparing Purple Bricks Fees to Traditional Estate Agents
When it comes to selling a property, one of the biggest decisions a homeowner has to make is choosing an estate agent. The traditional high street estate agents typically charge a percentage of the sale price as their fee, while online estate agents like Purple Bricks charge a fixed fee. Here, we will compare the costs and services of Purple Bricks with traditional estate agents.
Cost Comparison
The fees charged by traditional estate agents can vary between 1% and 3.5% of the sale price, plus VAT. This means that for a property sold for £300,000, the fee could be as high as £10,500.
On the other hand, Purple Bricks charges a fixed fee that starts from just £999 (inc VAT) for their basic package. This can be a significant saving for homeowners, especially those selling a higher value property.
It is important to note that the fees charged by traditional estate agents are negotiable, and some may be willing to lower their fee to secure a sale. However, this is not always the case and it can be difficult to know what a fair fee is.
With Purple Bricks, the fee is fixed and transparent, making it easier for homeowners to budget and plan for the sale of their property.
Service Comparison
One of the main concerns homeowners have when considering an online estate agent like Purple Bricks is the level of service they will receive compared to a traditional estate agent. While traditional estate agents typically offer a full service that includes valuations, viewings, and negotiations, Purple Bricks offers a range of packages with varying levels of service.
For example, their basic package includes a valuation, professional photos and floorplan, and listings on major property portals. However, homeowners are responsible for conducting their own viewings and negotiations. Purple Bricks does offer additional services such as accompanied viewings and negotiation support for an additional fee.
While traditional estate agents may offer a more comprehensive service, it is important to consider the cost and whether the additional services are necessary. For homeowners who are comfortable conducting their own viewings and negotiations, a fixed fee online estate agent like Purple Bricks may be a more cost-effective option.
In conclusion, when it comes to choosing an estate agent, homeowners should consider the costs and services offered by both traditional estate agents and online estate agents like Purple Bricks.
While traditional estate agents may offer a more comprehensive service, the fixed fee charged by Purple Bricks can be a significant saving for homeowners. Ultimately, the decision will depend on individual circumstances and preferences.
How to Pay Purple Bricks Fees
Purple Bricks offers two payment options for their fees: upfront payment and deferred payment.
Upfront Payment
If you choose to pay upfront, you can do so using a debit or credit card. Once you have instructed Purple Bricks to sell your property, they will send you an email with a link to their payment portal. From there, you can enter your payment details and complete the transaction.
Deferred Payment Option
If you choose the deferred payment option, you can pay 10 months after the date you instruct Purple Bricks, or when you sell your property, whichever comes first. This option is only available if you choose the Pro package and agree to use their recommended solicitors.
If you choose this option, you will need to sign a credit agreement with Purple Bricks’ finance provider, Close Brothers. The agreement will outline the terms of the deferred payment option, including the interest rate and any fees.
It’s important to note that if you choose the deferred payment option and do not sell your property within 10 months, you will still be required to pay the full amount owed.
In summary, Purple Bricks offers two payment options for their fees: upfront payment and deferred payment. If you choose to pay upfront, you can do so using a debit or credit card. If you choose the deferred payment option, you can pay 10 months after the date you instruct Purple Bricks, or when you sell your property, whichever comes first.
Conclusion
In conclusion, Purplebricks offers a fixed-fee package for selling properties, which is fairly priced compared to other agents. They charge a fee of £1,199 (or £1,499 for London properties), which includes professional photography, floorplans, and listings on Rightmove, Zoopla, and more. However, it is important to note that additional fees may apply, such as conveyancing fees and buyers premium.
While some customers have reported positive experiences with Purplebricks, others have criticized the company for their lack of transparency regarding additional fees and for their customer service. It is important for potential customers to carefully review the contract and fees before making a decision to use their services.
Overall, Purplebricks may be a good option for those looking for a cost-effective way to sell their property, but it is important to do research and consider all options before making a decision.
Frequently Asked Questions
What are the conveyancing fees for Purplebricks?
Purplebricks does not provide conveyancing services directly, but they have partnered with a third-party conveyancing firm to provide a fixed-fee service. The cost of conveyancing fees varies depending on the value of the property being sold. It is recommended that you contact Purplebricks directly for a quote.
How long does it typically take for a property to sell with Purplebricks?
The length of time it takes for a property to sell with Purplebricks can vary depending on a number of factors, including the location of the property, the current state of the property market, and the asking price of the property. However, Purplebricks claims that on average, properties listed with them sell within 13 weeks.
What is the process for terminating a contract with Purplebricks?
If you wish to terminate your contract with Purplebricks, you will need to contact them directly. The terms of the contract will determine whether you will be required to pay any fees or charges for terminating the contract early.
Does Purplebricks charge a fee for their services?
Yes, Purplebricks charges a fee for their services. The fee is fixed and varies depending on the location of the property being sold. The fee is payable upfront and is not refundable if the property does not sell.
Is Purplebricks a no sale no fee estate agent?
No, Purplebricks is not a no sale no fee estate agent. They charge a fixed fee for their services regardless of whether the property sells or not.
Which estate agent has the lowest fees compared to Purplebricks?
It is difficult to determine which estate agent has the lowest fees compared to Purplebricks as fees can vary depending on a number of factors. It is recommended that you research and compare fees from different estate agents to find the best deal for your specific needs.
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