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Just had a really poor experience with them. Couldn't get in to view the property. Problems with unhelpful tenants apparently. We bid anyway as we know the block and have bought other units in there. We were the highest bidder when bidding closed but National residential claimed they couldn't get a hold of the vendor to confirm acceptance of our cash bid. A few days later they opened the bidding again claiming it was just an internal process while they waited on confirmation. Suddenly we were receiving texts to say bidding was coming to a close and did we want to increase our bid. We still had the highest bid. Finally our bid was beaten by £500 a full 12 days after bidding ended.
This is the first time we have ever tried to buy through these guys and it will be the last. Years of experience and you get treated like some fool who doesn't know that you are being played. Like you haven't seen every wide boy and chancer in the past 15 years of residential investment.
The model is fundamently flawed and expensive. Foxtons will sell for less. Do yourself a favour an avoid like the plaque.
I'd steer well clear. I also went through their drawn out auction process. I was the highest bidder and received a congratulatory message that i'd purchased the property with details on how to proceed and immediately paid my deposit. Then they accepted a higher offer. They seem to be lacking in terms of business ethics/morals. I won't deal with them again. Maybe they're great from a sellers perspective, but from a buyers perspective they're a bunch of cowboys.
It is unfathomable to me why would someone use them to sell a property in their 'latest technology' auction. If you want to get a quick sale and fair price, go to a real auction. If you can wait and want the best price, let any local EA dealing with it.
As a buyer I will stay well away from this lot. Time wasters.
So the story is, a local distressed unmortgageable property. One chap rang me today to ask if I will be interested in making an offer. He told me there is an offer received at £300k. Before I can finish my reply, the chap slang the phone on me.
My reply was, 'Thank you for be in touch, for this price I won't make any offer. And good luck to ...'
The property has been flopped on the market for this price since May.
I think it will still be on the market next May - at this price that is.
Is this property in Reading by any chance? As i believe they have just told us the same thing?
I have encountered a similar situation with NR -= I received texts for a month with the bidding going higher. And last minute they have put the property back on the market - saying the previous sellers withdrew their bid. Does anyone know anything more about the company?