compensation from Estate Agent ??

BitterAndTwisted

I think you'll probably find that your "Walter Mitty" character is on a commission from the agent for every thousand pounds they can bump the price up by. Nice little earner for very little effort.

googler

martinjade wrote: »

During the process, it was brought to my attention whilst visiting the area that the other bidder was well known in the area as being a "Walter Mitty" type character and made a habit of this sort of thing. He'd put offers on other properties in the area, only to pull out at the last moment.

So you're basing your case against the EA on hearsay? Or do you have some documentary proof of the other bidder's previous actions?

EDIT: Even if you did get as far as making a case to The Property Ombudsman, I think if you presented evidence based on the hearsay of (apparently just one of) the townsfolk when you 'visited the area', you'd find yourself laughed out of the ombudsman's office. Read the annual report at the TPO website, especially the summaries of cases.

Aberdeenangarse

JQ. wrote: »

EA : are you proceedable?
Other bidder : yes I am.

EA has verified they are proceedable.

There is no law relating to the definition of what is proceedable, it's up the the EA and their client to decide what they accept.

Agreed. Whatever you think of EA's you can't expect them to be bloody Hercule Poirot!

Gwhiz

Marry in haste, repent at leisure.

AMILLIONDOLLARS

If it was worth less, then the Surveyor would have valued it accordingly, the fact that he went with your offer speaks volumes.

AMD

hazyjo

How exactly did you find out (after you bought) that he wasn't proceedable?

Jx

martinjade

googler wrote: »

So you're basing your case against the EA on hearsay? Or do you have some documentary proof of the other bidder's previous actions?

EDIT: Even if you did get as far as making a case to The Property Ombudsman, I think if you presented evidence based on the hearsay of (apparently just one of) the townsfolk when you 'visited the area', you'd find yourself laughed out of the ombudsman's office. Read the annual report at the TPO website, especially the summaries of cases.

Thanks for everyone's observations, some quite random to say the least.

I did visit the ombudsmans website as suggested and came across the following under the codes published.

8. Financial Evaluation
8a At the time that an offer has been made and is being considered by the seller, you must take reasonable steps to
find out from the prospective buyer the source and availability of his funds for buying the property and pass this
information to the seller. Such information will include whether the prospective buyer needs to sell a property,

requires a mortgage, claims to be a cash buyer (

*) or any combination of these. Such relevant information that is

available should be included in the Memorandum of Sale having regard to the provisions of the Data Protection Act.

8b These reasonable steps must continue after acceptance of the offer until exchange of contracts (in Scotland,
conclusion of missives) and must include regular monitoring of the prospective buyer’s progress in achieving the

funds required, and reporting such progress to the seller.

My original caution was as a result of hearsay, which prompted me to ask his status, and quite correctly has been pointed out, is none of my business. However several people from the area have provided more hearsay and as you know google is a wonderful invention. AFTER we moved in I have been able to establish his house has been on the market for 6 years, the asking price, his age, his outstanding mortgage balance etc. etc.

I think there is enough to proceed with a case bearing in mind, I know his credentials weren't checked. I presume the ombudsman will ask for written evidence from both sides which, I can provide. I presume that he will also ask for written evidence that his proceedability was checked. After all the people that bought my house had to provide a bank statement, and I had to produce a mortgage offer.

In answer to a previous posting yes we are perfectly happy with the house and the price paid and if I didn't know about the other side>>>>>>>>>>>>>>>>>>>>> the problem is I do !!!!

ILW

Bear in mind that the EA is employed by the seller. He did a pretty good job.

They also have a duty to pass all offers to the seller.

martinjade

ILW wrote: »

Bear in mind that the EA is employed by the seller. He did a pretty good job.

Yes, he did.

However in the process he committed fraud and broke the ombudsman's code. I'm not sure the seller (a major financial institution) would want to be publicly associated with his actions albeit, privately patting him on the back

ILW

martinjade wrote: »

Yes, he did.

However in the process he committed fraud and broke the ombudsman's code. I'm not sure the seller (a major financial institution) would want to be publicly associated with his actions albeit, privately patting him on the back

I should imagine that the poor sod that got his home repossed would thank the EA. Or does he not count for anything?