What does the estate agent have to tell you?

Blonde94 · 15 June 2017 at 4:01PM

I was wondering what information the Estate Agent needs to disclose when you are viewing a property?

I am currently in the process of buying our first flat, we have got all the mortgage approved, survey and searches back and a couple of changes to the lease done. we were reading our solicitors report with the view to exchange in a couple of days and complete a few weeks after when it popped up that the property was grade 2 listed.

My partner and I would never have even viewed the property let alone put an offer in or get so close to buying the flat had we known it was a listed building.

If the sale now does not go though because it's listed is there anyway of getting legal fees back from the estate agent?

ST1991 · 15 June 2017 at 4:03PM

Unfortunately, they don't have to specifically tell you anything unless you ask

Pixie5740 · 15 June 2017 at 4:06PM

The Estate Agent might not have known if the vendor had not disclosed it to them. This is why you have a survey done, so that you know these things before you exchange contracts and are committed to purchasing the property.

Blonde94 · 15 June 2017 at 4:09PM

Thank you,

My partner is sure he asked but we have nothing in writing it would have just been verbal so don't think we can do anything

Blonde94 · 15 June 2017 at 4:13PM

Pixie5740 wrote: »

The Estate Agent might not have known if the vendor had not disclosed it to them. This is why you have a survey done, so that you know these things before you exchange contracts and are committed to purchasing the property.

Thank fully we noticed just before we exchanged. Now considering the options on if we pull out, re-negotiate our offer or just continue with the buying process

LEJC · 15 June 2017 at 4:14PM

I feel your pain...however the EA can and probably will tell you anything you might want to hear to entice you into buying a property!

t is up to you and your solicitor to ensure you know exactly what you are buying and any implication.

I am currently midway though a purchase where a covenant has just been discovered that basically the EA could have told us about if they had wanted to...5 months into the purchase with associated costs and we may now need to pull out purely because we cannot physically meet the requirement to buy.

Surrey_EA · 15 June 2017 at 4:23PM

Your solicitor will have received a form called a Sellers Property Information Form. This will have been sent to your solicitor by the solicitor acting for the vendor, usually very early on in the process.

One of the questions is:

Is the property or any part of it a listed building?

I would be asking why your solicitor didn't draw your attention to the information contained in this form far earlier in the process, it shouldn't be coming to light when you are nearly ready to exchange.

Surrey_EA · 15 June 2017 at 4:53PM

LEJC wrote: »

I am currently midway though a purchase where a covenant has just been discovered that basically the EA could have told us about if they had wanted to...5 months into the purchase with associated costs and we may now need to pull out purely because we cannot physically meet the requirement to buy.

Are you certain the EA was aware of the covenant? Most EAs are not experts on interpreting covenants, that's what you have a solicitor for.

LEJC · 15 June 2017 at 5:11PM

Surrey_EA wrote: »

Are you certain the EA was aware of the covenant? Most EAs are not experts on interpreting covenants, that's what you have a solicitor for.

I believe the EA may have known about the covenant...it's age related and has been uncovered during the searches by our solicitor.

I understand that a previous sale fell through although no idea if this was a factor. in that fail to complete or not.
Although during our second viewing of the property the agent did advise us that last year they sold a neighbouring house,which would have the same restrictions as the one we intend/ed to purchase.

Its been a very slow process as the sale was also a probate being dealt with by a solicitor who was not the selling solicitor and a set of executors who also formed a third layer in the chain on the selling side.

TBH....the EA can only tell you what they know about an area or property or what they are told....Hindsight is the wonderful thing that always comes to light later.
The restrictions on this particular property maybe should have been pointed out by those selling to the EA particularly as a large portion of the purchasing public may not be able to purchase this one!!!!

ces't la vie

Surrey_EA · 15 June 2017 at 5:21PM

LEJC wrote: »

I believe the EA may have known about the covenant...it's age related and has been uncovered during the searches by our solicitor.

I understand that a previous sale fell through although no idea if this was a factor. in that fail to complete or not.

Its been a very slow process as the sale was also a probate being dealt with by a solicitor who was not the selling solicitor and a set of executors who also formed a third layer in the chain on the selling side.

ces't la vie

As ever, the agent is only is good as the information they are given. However, part of that should be knowing which questions to ask, and any half decent EA should know which buildings near to them come with an age restriction.

A minor point, but I would be surprised if the covenant turned up amongst the search results, it is likely to have been referred to within the Land registry title.

LEJC · 15 June 2017 at 5:24PM

Sorry my apologies I've just amened my post to include some extra info and you may have replied whilst doing that....

but back to topic and the op's original question....we have digressed with my situation which whilst is of interest to me may make them feel I have hijacked their thread!

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What does the estate agent have to tell you?

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