Concerns about estate agent

lordreid

We are selling my late father's house. Probate was completed long ago.

We both live a long distance from the property and needed an agent we could trust.

We got a buyer quickly. EA told us they had a property to sell but their purchaser was a 'cash buyer'.

He also told us that the purchasers wanted to buy some of the furniture. They drew up a list and offered us money.

EA is acting on sale of our purchasers' property too.

Three months on, we have discovered that the purchasers' purchasers are not cash buyers at all. They have a property to sell. They don't need a mortgage but with a property to sell they certainly don't fall into the EA's Code's definition of cash buyer.

The EA said he was confused about this but now says our purchasers' purchaser definitely has a cash buyer so the chain does not extend beyond this. Of course, we can't be sure.

We found all this out as we are approaching exchange and the date was being put back. We were told they were waiting for funds from the end of the chain which didn't make sense. We now feel badly let down as we would not have accepted the fairly low offer on the property had we understood the purchasers were in this position.

But there are other concerns. The buyers recently decided they didn't actually want any of the furniture so we organised a charity to take some things and for clearance of the rest.

One of the clearance men turning up to quote told us he had been told by the EA to wait and see what the purchasers wanted first.

The EA was also very much against us using a charity saying they wouldn't take most of the stuff. He offered to use his 'own men' instead.

We have visited the property this weekend to find post-it notes with 'keep' on some of the items.

We also noticed some sealed bottles of alcohol had been moved from a living room cabinet and put in one of the chest of drawers..

The EA says the keep stickers were for the list the purchasers drew up yet these items did not appear on their list.

We've had no explanation for the bottles as yet.

So what would you do? We have lost trust in this guy yet we are nearly at exchange and have given an ultimatum for it to happen this week or we are out. But we don't really want to have him involved

We don't want to let heart rule head but we feel there has been something odd going on

eddddy

Hi lordreid

It's a bit difficult to work out what you're trying to say - perhaps you're hoping that people will 'read between the lines', but that's very difficult with a forum post.

For example, are you saying that you think the EA is trying to give away your furniture to his friend, and that the EA is trying to steal your alcohol?


Anyway, on a more general level, if you have serious doubts about both the EA and purchaser - you could do the following:

- Give the EA written notice of termination (check their contract for notice period)
- Instruct a new EA (to start marketing one the notice period expires)
- Tell the purchaser that you are putting the house back on the market, and it will stay on the market unless/until they exchanges contracts

Make sure both old and new EA know exactly what you are doing. If the current purchaser does exchange, the old EA gets a fee. If the new EA finds a new buyer instead, the new EA gets the fee.

notanewuser

The agent is planning to sell some of the furniture and keep the alcohol. He doesn't want a charity taking things he can make money off.

I'd be taking the keys back tout suite.

Davesnave

How many valuations did you obtain?

This could be significant too!

lordreid

Thnaks.

Edddy - I tried simply to set out the facts to see what people's reaction would be if in the same situation, rather than placing my own interpretation on events.

It kind of gets worse. It looks like some items may have gone from the property.

lordreid

Davesnave - we obtained three valuations

Davesnave

lordreid wrote: »

Davesnave - we obtained three valuations

Then if this one was in line with the other two, and if the sale price isn't way below asking, there is less danger that the agent has deliberately undervalued for a retained client.

lordreid

Yes, I agree. The problem is the other stuff.

Errata

lordreid wrote: »

Thnaks.

Edddy - I tried simply to set out the facts to see what people's reaction would be if in the same situation, rather than placing my own interpretation on events.

It kind of gets worse. It looks like some items may have gone from the property.

May have, or have?

lordreid

The items appeared on a list the purchasers wanted to buy. The EA took them round the house and they drew up a list.

The purchasers later changed their mind.

Two of the items are no longer there.

We are seeking clarification from relatives who knew what was in the house and from the buyers.

G_M

Either you manage the sale yourselves, making a list of contents, deciding what to keep, what to include in the house sale, what to sell, and what to give to charity.

Or you hand it all over to an agent and accept that stuff will go missing.

Simple as that.

As for the buyers, and the 'cash buyer' misunderstanding:

a) 'cash buyer' has 2 meanings which often get confused: a) no property to sell and/or b) no mortgage being applied for

b) ALL property deals end up taking longer than people expect, or want, and ALWAYS hit snags, delays, changes

So you can't have a go at the agent for this; it's just par for the course (and I say this as no fan of agents!)