anyone heard of investment property group they say they have a buyer for my house

not_loaded

Carole, I’d read the paperwork you have to see under precisely what terms the money was taken.

If you clearly have a case for a refund, I’d prepare the Small Claims County Court papers. You can download and do this yourself.

Then, let them know you’ll be proceeding against them for the money. I used to fax my small business defaulters a copy of the front-page CC papers to show I was serious. Often the money was paid at that point.

Good luck!

Cattikina

Bettybooop, have you gone any further with this IPG company?

I have just agreed an offer with a 'buyer' but not yet sent them any money.

Do you know for sure this is a scam? Ive been trying to sell my flat for months. Ive just looked up the company and have seen this page full of warnings. I cant find any other information about this company or any other warnings elsewhere.

Thank you

BitterAndTwisted

Cattikina have you given them any debit/credit-card details? If not, forget about this bunch of shysters. If you have, get the card cancelled asap even if you have to claim that it's been lost or stolen. They aren't in the business of buying properties as it's my understanding that their object is to muck sellers around for as long as possible, often offering a huge amount less than market-rate at the eleventh hour until the sellers try and cancel the whole deal. Then they'll take the £1200 per the contract for dropping out.

Cattikina

No I haven't given them any details.

Basically, at first they advised on a 79 quid valuation fee, and told me that the buyer is covering the costs in this instance.

They then came back with an offer from the buyer, I went back with a little bit more, and they came back with my offer minus 50 quid.

I agreed happily to this.

I have since read all of these threads, and have sent them an email asking that they agree for the fee of 1199 to be paid when the sale is completed, and the funds for the house are transferred.

I havent heard back as it is late Friday afternoon, so I expect I will get an answer on Monday.

I know that this might smell of a scam, but I hope it isnt because I want to sell. In this respect, I cant see that I will lose out if they accept the fees to be paid at the end.

In regards to the 180 day cut off period, the contract says:

"4. It is agreed that in respect of Agreed Sales fees taken by “Investment Property Group” in relation to the Agreed Sales and Agreed
Purchase Fee’s that the Client, shall be entitled to a refund if either party is unable to complete the transaction within 180 days of
which the Acceptance of Offer was signed by the Seller. In the event of either party cancelling the sale, the party not responsible for
cancellation only shall be entitled to a full refund within 7 days of cancelation. All Offers will be valid for 7 days unless agreed
otherwise. "

This means that even after the 180 day period, if the sale is cancelled by the buyer, I will be entitled to a refund within 7 days. I cant see that I would wait more than 30 seconds to ask for the refund. Does this make sense?

I think then the only thing that I havent covered to protect my side of this bargain is that the buyer cannot lower the agreed sale price. Is it possible to agree that this is a set price and cant be changed? I assumed it couldnt be changed, as it would then completely alter the reasoning on which I agreed to sell to this buyer.

Let me know what you think

Cattikina

bear in mind I haven't signed any contract yet

sunshinetours

Cattikina wrote: »

No I haven't given them any details.

Basically, at first they advised on a 79 quid valuation fee, and told me that the buyer is covering the costs in this instance.

They then came back with an offer from the buyer, I went back with a little bit more, and they came back with my offer minus 50 quid.

I agreed happily to this.

I have since read all of these threads, and have sent them an email asking that they agree for the fee of 1199 to be paid when the sale is completed, and the funds for the house are transferred.

I havent heard back as it is late Friday afternoon, so I expect I will get an answer on Monday.

I know that this might smell of a scam, but I hope it isnt because I want to sell. In this respect, I cant see that I will lose out if they accept the fees to be paid at the end.

In regards to the 180 day cut off period, the contract says:

"4. It is agreed that in respect of Agreed Sales fees taken by “Investment Property Group” in relation to the Agreed Sales and Agreed
Purchase Fee’s that the Client, shall be entitled to a refund if either party is unable to complete the transaction within 180 days of
which the Acceptance of Offer was signed by the Seller. In the event of either party cancelling the sale, the party not responsible for
cancellation only shall be entitled to a full refund within 7 days of cancelation. All Offers will be valid for 7 days unless agreed
otherwise. "

This means that even after the 180 day period, if the sale is cancelled by the buyer, I will be entitled to a refund within 7 days. I cant see that I would wait more than 30 seconds to ask for the refund. Does this make sense?

I think then the only thing that I havent covered to protect my side of this bargain is that the buyer cannot lower the agreed sale price. Is it possible to agree that this is a set price and cant be changed? I assumed it couldnt be changed, as it would then completely alter the reasoning on which I agreed to sell to this buyer.

Let me know what you think

If you are not paying anything until completion the refund process shouldn't be an issue. Paying anything in advance then puts you at risk whatever any refund policy says

Also watch out for any last minute drops in price

The biggest risk is tehy string you along for 6 months and you don't sell else where so are even more desperate

Proceed carefully

ILW

That contract appears to make you liable for the fee if you drop out for any reason, whether paid up front or not. If they already have a buyer, why do they want 180 days. I would tell them no upfront fee and 45 days from offer to completion.

BitterAndTwisted

If they haven't got any card-details from you on what basis might you be requesting a refund from them? Please do not sign anything and put all of their crappy documentation in the bin! This stinks to high heaven.

Cattikina

i have been told by my partner that they cannot actually lower the agreed selling price. You say that they could drop the price at the last minute. If they do, it would void the contract surely?

And if the contract is voided by the buyer lowering the price, then it is the buyer who has cancelled the sale and therefore I dont pay the fee.

ILW

Cattikina wrote: »

i have been told by my partner that they cannot actually lower the agreed selling price. You say that they could drop the price at the last minute. If they do, it would void the contract surely?

And if the contract is voided by the buyer lowering the price, then it is the buyer who has cancelled the sale and therefore I dont pay the fee.

Is your partner a lawyer?