Urgent help please - dodgy estate agents!

Hi,

We sold our house back in july for £108,000. We are about to complete on the sale of our house and the purchase of our new house. However, our solicitor has noticed a problem. The estate agents who sold our house have changed the sale price to just over £113,000 so the buyer looks to be getting a lower LTV on their mortgage. Hope i'm making sense so far. Our solicitor says this isn't allowed and we can't complete.

He has said that he will have to speak to the buyer's lender to see if they are OK to go ahead.

Has anyone else had a situation like this, and if so, is there a way round it.

Regards,

Rob

Replies

  • Have you asked your EA why they have done this? Remember they work for you and NOT your buyer!
    My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say ;)
    Ignore......check!
  • googlergoogler Forumite
    15.9K Posts
    Part of the Furniture 10,000 Posts Combo Breaker
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    Changed the sale price where?

    I assume the buyers offered £108,000, and put this in writing, and this was passed to your solicitor in July, and your solicitor accepted it then.

    If this was in writing then, what can the EA change?
  • I would think it's primarily a matter for the buyer's solicitor, since they are probably also working for the buyer's lender, and therefore possibly party to a mortgage fraud if it's not all legit. Your solicitor is probably refusing because he knows about the situation, and can't allow himself to be involved in the transaction unless he knows that it's above-board. I can't see how it can be, probably hence why the solicitor has said "whoa!"
  • maninthestreetmaninthestreet Forumite
    16.1K Posts
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    The EA doesnt set the price - this is specified in the contract drawn up by the solicitors. How could the EA change this? It sounds like your EA has made a clumsy attempt to introduce a £5,000 Vendor Gifted Deposit into the deal, behind your back.
    "You were only supposed to blow the bl**dy doors off!!"
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