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Dishonest Scumbag Vendor
msharron
Posts: 6 Forumite
Okay, so I posted on this last night.
I did some more digging today and withdrew my offer on a property after having wasted £1000 on a survey and legal fees.
I initially thought the vendor was just being slow to respond to enquries. The land registry check identified a charge against the freehold for a company called capquest. I did some more digging, turns out it was for a sub prime secured loan from a company called SWIFT ADVANCES.
As the sale progressed the vendor became increasingly difficult to contact, ignoring letters and dodging calls from the estate agents who were eager to sell the flat. The estate agent even went to the extreme of calling his work and overheard the vendor in the background telling his boss to tell the estate agent that he wasn't there.
Upon further investigation it transpired the vendor had placed his property on the market and listed it with other estate agents previously, but made it impossible for them to sell as well.
The crux of the situation is that the vendor was simply listing his property on the market to dodge a collection agent from forcing him to sell. Buy putting his property up for sale, the debt collectors effectivly left him alone in the knowledge that when the property sold the debt would be satisfied.
Thing is the vendor had no intention of selling at all and was perfectly happy to string his estate agent, myself and my pregnant wife along costing us a significant amount of money, time and stress in the process.
I learned a valuble lesson and lost money. The estate agents and their solicitors (no sale, no fee) are also out of pocket and the whole thing has left a very bad taste in my mouth.
My wife was intent on an act of retributive property damage, I had to restrain her as I do not wish for either of us to get a criminal records.
This is a horrible and unfair situation. Surely there is something that can be done to give the vendor a taste of his own medicine or at the very least a legal mechanism exists to force him to pay for the time he has wasted.
I did some more digging today and withdrew my offer on a property after having wasted £1000 on a survey and legal fees.
I initially thought the vendor was just being slow to respond to enquries. The land registry check identified a charge against the freehold for a company called capquest. I did some more digging, turns out it was for a sub prime secured loan from a company called SWIFT ADVANCES.
As the sale progressed the vendor became increasingly difficult to contact, ignoring letters and dodging calls from the estate agents who were eager to sell the flat. The estate agent even went to the extreme of calling his work and overheard the vendor in the background telling his boss to tell the estate agent that he wasn't there.
Upon further investigation it transpired the vendor had placed his property on the market and listed it with other estate agents previously, but made it impossible for them to sell as well.
The crux of the situation is that the vendor was simply listing his property on the market to dodge a collection agent from forcing him to sell. Buy putting his property up for sale, the debt collectors effectivly left him alone in the knowledge that when the property sold the debt would be satisfied.
Thing is the vendor had no intention of selling at all and was perfectly happy to string his estate agent, myself and my pregnant wife along costing us a significant amount of money, time and stress in the process.
I learned a valuble lesson and lost money. The estate agents and their solicitors (no sale, no fee) are also out of pocket and the whole thing has left a very bad taste in my mouth.
My wife was intent on an act of retributive property damage, I had to restrain her as I do not wish for either of us to get a criminal records.
This is a horrible and unfair situation. Surely there is something that can be done to give the vendor a taste of his own medicine or at the very least a legal mechanism exists to force him to pay for the time he has wasted.
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Comments
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The best you can hope for is to snap it up for less as a repossession..... vendor's a !!!!.0
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Time's run out. Baby is 4 day over due now. We need to find another place =(0
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This happened to us when I was heavily pregnant: a vendor (who had made a great deal of being an honourable man-first warning sign) pulled out in the afternoon, having allowed in a surveyor for a full survey in the morning. Git. It's why I believe HIPs were a good idea-and I think a vendor should have to put down a deposit as well.
Unfortunately, unless the law has changed, there's absolutely no action you can take against these lowlives. Personally, I stamped around for a while, then made a very large cup of tea, and brought things back into perspective by cuddling my toddler while watching Pooh Bear videos. It's very, very annoying, and it really should be illegal, but when you are expecting a child, far worse things can happen. Try not to let it get to you too much...:(import this0 -
what a s**t ... i'd be grumpy too... sooner or late he will get what is coming to him.. karma and all that.....0
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Keep an eye on local agents, and when it comes on the market again let them know exactly what he is doing.Been away for a while.0
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Wouldn't he end up liable for lots of estate agent fees if they keep finding him proceedable buyers if he has no intention of selling?0
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The vendor will run out of EAs to use, as he p*sses them off one by one. Hopefully, the word will get around the local EA network that this vendor should not be taken seriously."You were only supposed to blow the bl**dy doors off!!"0
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You could of course let the company know who are chasing him.0
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poppysarah wrote: »You could of course let the company know who are chasing him.
This is the best idea, and notify any agents who he lists the property with. It isn't just revenge, but it prevents this scum pulling the same scam on anyone else who could waste their money on surveys.0 -
Way ahead of you. They were rather interested to hear from me.
Also told every estate agent in town about his little scam, they were also quite thankful for the information.0
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