Estate Agent Legislation for NI

gibbyni

Hi,

I need a bit of help I have been asked to find and legislation concerning Estate Agents in NI, particularty in relation to offers being passed on from buyer to seller.

Can anyone help me?

Thanks

saverbuyer

Its the Estate Agents Act 1979. There is also a code of practice.

The relevant part is here,

You must do everything you reasonably can to keep all prospective purchasers who have
recently made offers through you, and which have not already been rejected, informed of the
existence (but not the amount) of other offers submitted to the client. You must not
misrepresent the existence of, or any details of, any other offer allegedly made, or the status
of any other person who has made an offer. If you know that your client has instructed a
solicitor to send a contract to an alternative purchaser, then you must tell your prospective purchaser in writing.

The Act is "policed" by Trading Standards and the Office of fair trading.

saverbuyer

Also be aware that the estate agent doesn't have to pass on offers if the vendor expressly asks them not to. For example please don't tell me offers under 100,000.

Old_Git

I completed on a house purchase last week .
I offered £81,000 a month later the EA came back and said they had an offer off £82,000 I increased my offer to £83,000 and sale was agreed .
I was suspicious was there really an offer of £82,000.

The vendors had separated and Mrs Vendor didn't even know the house was up for sale .Mrs Vendor found out a week after my £81,000 had been rejected .
The agent has used 4 year old photos as the house was a tip .(Mr venoor is an alcoholic.)
The vendors daughter told me all this plus Mrs Vendor never heard of an offer at £82,000 and she would have been happy with £81,000 as the mortgage hadnt been paid since October but Mr vendor said no.
Mr vendor was living in the house but refused to pay for the EPC ,so Mrs vendor had to pay.

gibbyni

saverbuyer wrote: »

Its the Estate Agents Act 1979. There is also a code of practice.

The relevant part is here,

The Act is "policed" by Trading Standards and the Office of fair trading.

Yea that it, he wasnt to sure if the 3rd party had to be told about a bid and the value of it.

Thanks for the help