What is an Administration Fee?
Again, this does not apply to every property and will be clearly displayed within the property particulars. An Administration Fee or Charge covers the auctioneer’s costs in servicing the requirements of all those interested in purchasing the property. It is common practice and the fee (plus VAT) will be payable by the buyer along with the 10% deposit after the virtual gavel falls. The amount can either be a fixed fee, or a percentage of the sale price (subject to a minimum amount).