Seller lost £612,000 on Hampstead mansion sale

Mansion-billionaires-row-purchase
A mansion bought on ‘Billionaires’ Row’ has cost one seller an extra £612,000 after it became the third most expensive purchase of 2014.

Home to the likes of Stephen Fry, actor Benedict Cumberbatch, and film director Ridley Scott, Hampstead has been an attractive destination for the arts and film community for many years, and is also famous for its lavish properties and green open spaces.

The Standard reports that a mansion on ‘Billionaires’ Row’ was sold for just under £34 million but an estate agents comparison expert calculated the seller paid significantly more in fees.

Robert Ashley from CompareOnlineAgents.com said: 

“A handful of estate agents at the top end of the market often charge more than 1.5%, unlike most traditional agencies for selling a home. £612,000 or more would have been paid by the seller, instead of £826 using one of our online estate agents.

We ran the property address through our online system and selected all the options anyone would need to sell their home. EPC, For Sale board, Accompanied Viewings, the lot – we were shocked. 

Using even conservative figures, the seller would have saved a whopping £612,000 on estate agent fees.”

The Bishops Avenue, or better known as ‘Billionaires’ Row’ is one of the most expensive places in the world to buy property, and attracts many successful entrepreneurs and celebrities looking for a sense of ‘status’.

As with any property hunt, people looking for a good deal on Britain’s ‘blingest street’ also need to keep an eye out for those hidden agency fees.

If you had an extra £600k to spend, what would you buy?

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