Are these tactics underhand?

jeggburt

I've got my flat on the market currently and quite a few others on the street are as well.

Now, I've raised a thread previously about an EA that kept marketting the flats as freehold, even though they're not, but another issue has come to hand.

One seller has put theirs up for sale for a Buy to Let investor, even though the leasehold specifically states this is prohibited.

I contacted the EA this property has gone through and asked if the rules had changed etc (not giving anything away) and the EA advised that the seller was the landlord of the flat and put it up for sale as his tenants moved out?!?

I don't know what information he has put on his HIP, but I'm finding it hard to take that playing by the rules and struggling to get viewers round when other sellers are not being honest about what the property entails.

If it was freehold, I'd have nothing to complain about as it's all about making their place the one to buy, but this situation is different.

I'm tempted to contact our management company's sales team to advise that this property is up for sale and advise the current owner's intentions and what they are using the property for as well (they really do frown upon it).

I'm playing with my concience here, would anyone else consider doing the same?

poppysarah

You could ask without pointing the finger in a direct way - see if you could "sell yours to a BTL investor like flat X is"

maninthestreet

If an EA describes a flat as Freehold, when it is actually Leasehold, then they commit an offence under the Property Misdescriptions Act.

PeoplesChampion

Any person thinking of buying this flat are going to be well anoyed when they find out they have been mislead- (if there solicitor spots the diseption) the truth will out....

jeggburt

poppysarah wrote: »

You could ask without pointing the finger in a direct way - see if you could "sell yours to a BTL investor like flat X is"

We have a residents meeting tonight to discuss the points of the last meeting (which I missed - darn!) and to discuss our service charge estimate.

The selling of properties on the street will be brought up, I might even use the exact wording on Rightmove

jeggburt

maninthestreet wrote: »

If an EA describes a flat as Freehold, when it is actually Leasehold, then they commit an offence under the Property Misdescriptions Act.

I don't think that seems to bother this EA particulary much, as long as they get a sale.

jeggburt

PeoplesChampion wrote: »

Any person thinking of buying this flat are going to be well anoyed when they find out they have been mislead- (if there solicitor spots the diseption) the truth will out....

At this residents meeting, I'm planning on asking if the sales team can point out on the opening page about the main points of the lease that need to be understood - buying to let is not permitted!

I think I'll use wording from poppysarah's suggestion, without sounding too whingy (it's a difficult thing you know )

Thanks for your comments

Fire_Fox

If you put your concerns into writing and send the letter recorded delivery to the estate agent they will not be able to pretend they were not aware of their 'error'. Do you really mean BTL is not permitted, or do you mean subletting is not permitted without permission of the freeholder? I don't see how you would prove the intentions of a purchaser unless you could prove they had a BTL mortgage (which presumably is confidential information).

poppysarah

jeggburt wrote: »

The selling of properties on the street will be brought up, I might even use the exact wording on Rightmove

A printer and highlighter pen is your friend. Mention the internet and some people come out in a cold sweat.

property.advert

I was a director of a management company covering about 120 flats (resident owner myself) and whilst there were no restrictions on the renting out of properties or their being purchased as buy to let, there were restrictions on the renting and sale of parking places, both secured underground and open air.

A number of residents had purchased parking places and were renting them out, which was specifically prohibited. However, the demand for the parking places and the rents which could be achieved meant that we needed a more pragmatic solution or a legal case would likely ensue.

Our solution was to bring the renting of parking places under the umbrella of the management company. Once the lease was amended, those caught renting privately suffered the penalties stipulated in the lease and there was no shame on people "snitching". The security of the premises was and is far more important than someone breaking the rules, which are very clear.

Mini_Bear

I thought buying a flat freehold is still reasonably rare, and surely when the solicitor does the intial checks this will come out? we had to prove our terraced house was freehold when we got out HIP so i doubt they would be able to categorically lie on it.
Do you mean the flat cannot be rented out? Thats quite a strict policy from the leaseholder and would put a lot of people off i imagine. couples may keep hold of a flat as an asset for later life if they decide to cohabit. i imagine if sumone was on the dodge, they would get a residential mortgage for the property anyway for cheapness so it would be more difficult to prove it was let!