compensation from Estate Agent ??

sonastin

A little bit of time on a desktop publishing package and I'm pretty sure I could knock up something that looks pretty convincing as an agreement in principle. Show that to the EA and I'd look proceedable with proof of nothing more than I can use a computer and printer and have time on my hands. You'll need more than the fact that the other buyer wasn't actually proceedable to prove that the EA didn't fulfil his obligations and even more to prove that they committed fraud.

And given that there were two agents involved, which agent are you alleging committed the fraud? The EA you dealt with wouldn't have had the opportunity to check the other buyer's proceedability and it was in their interest to keep you on the hook as they would want to be the agent securing the sale. The other EA might have lied to your EA or they might have been taken in by whatever the other buyer had to show them.

You've got an uphill battle on this one if you want to take it further.

googler

martinjade wrote: »

No one's getting shirty, not angry nor frustrated. Just amused at the so called expert advice, from people who have absolutely no idea what they are talking about. By the way what does OP stand for ?

Who 'so called' it? I see no claim from anyone that they're an 'expert'. If you want experts in this world, you should expect to pay expert rates. How much are you paying?

OP stands for either 'Original Post', as in the first post in the thread, or 'Original Poster' as in you, who started the thread. You implied you could use Google earlier on..... why not try it with this?

If you don't like the answers you're getting, you can just leave. There's no need to resort to insulting those who are trying to help you, and giving of their time freely to so do.

poppy10_2

martinjade wrote: »

A "dutch auction" ensued culminating in us buying the house at £45,000 higher than my original offer.

Since we have moved in we have subsequently learned that in no shape or form was he "proceedable" At no stage did he start a mortgage process, his age and current financial position would have prevented this.

Surely there should be some form of recourse against the national agent and maybe the 2nd local agent ?

martinjade wrote: »

No one's getting shirty, not angry nor frustrated. Just amused at the so called expert advice, from people who have absolutely no idea what they are talking about.

You are quite right. The estate agent should have asked the other buyer about his income, assets and expenditure before listening to his offer, and should have handed over this personal financial information to you. It is clear the EA was directly responsible for you choosing to pay £45,000 more than you had planned - you bear no responsibility for your own actions.

Compensation Cat says... you should be awarded at least £2 million in damages.

sunshinetours

Welcome to the murky world of property buying and selling in the UK, even moreso on repos! Just be grateful you still got a bargain and move on and enjoy your new home.
Something like this if you let it will eat you up inside and taint your new home.

A bit like how you chose to bid, its your choice whether you let it or not. Ultimately choices you make in life come back to you and you alone - once you've accepted that you will live you life much happier!

Mallotum_X

You bought a house for a price you were happy to pay.

Prsumably you got it for less than you considered market value to be, with it being a repo, so really the only person(s) to possibly lose out were the previous owner and maybe the bank.

Sorry but thats pretty much the end of it. If you dwell on this you are going to hate your home. Accept you got a good home for a reasobaly price rather than worry about what might have been.

MissMotivation

What is it about buying reposessions that just brings out the worst in people??

If it wasn't for the fact that they are possibly the only properties selling at the moment I would refuse to sell them. It just really isn't worth the hassle and the pure greed of some people.

AMILLIONDOLLARS

You could look at the "Walter Mitty" type character" as being the guardian Angel of the people, who's home it was. They may have possibly lost everything with the loss of their home, your extra £45,000 helped them out of a very tight spot, think of it as your good deed for the year and enjoy the home you still picked up very cheaply!! As I said before, it still past valuation!!!!

AMD

martinjade

sunshinetours wrote: »

Welcome to the murky world of property buying and selling in the UK, even moreso on repos! Just be grateful you still got a bargain and move on and enjoy your new home.
Something like this if you let it will eat you up inside and taint your new home.

A bit like how you chose to bid, its your choice whether you let it or not. Ultimately choices you make in life come back to you and you alone - once you've accepted that you will live you life much happier!

Thank you, very wise words.

To some other posters, its not what you say, its the way you attempt to belittle people when they ask for advice this is what causes anger and frustration.

The conclusion I have come to is that there is no definitive answer, and after all I did pick up a bargain (£100,000 cheaper than market value even by todays valuations)

I must admit I liked the "rugby mates, ski masks, and baseball bat suggestion though :beer:

AMILLIONDOLLARS

So you bought it £100,000 cheaper but you still weren't happy, beggars belief:cool:

AMD

martinjade

AMILLIONDOLLARS wrote: »

So you bought it £100,000 cheaper but you still weren't happy, beggars belief:cool:

AMD

It means nothing if you're buying to live in it as a home. It however does mean that there had to be an extra £45,000 borrowed than needed to be.

It depends what side of the fence you are on, and I never like to run up unnecessary debts