Urgent ! Auction Property sold through misrepresentation.

ruggedtoast

Auction_buy wrote: »

The Property sold to me was as advertised ‘Reception/Kitchen, Three Rooms, Bathroom/WC’ however it has transpired it is only one room/Bedroom property i.e. 1 Reception, 1 Bed, Kitchen, Bathroom/WC and the sale was completed through possible misrepresentation.


Additionally I have been asked to pay 2% pf property value towards legal pack and seller solictor free but the Legal pack / searches document which were out of dates (more than 3 months) and were not acceptable to bank.


I don’t know what to do as I already paid the 10% deposit and actionier fee via cheque ...What options I have got? ….How can I get my self out of deal? If I stop the cheque what is going to happen? It is a big auction house and I have to complete buying by 13 March ( 2 weeks left).

I don't know if you are still around, but as others mentioned your best bet is a solicitor to see if you can get out of the sale on the description. I would be trying to secure a mortgage with another lender at the same time.

You can stop the cheque but the sellers will in all probably sue you to complete for the total purchase price. If you are lucky you might get away with just losing the deposit. I hope it works out for you. Good luck.

Jhoney_2

Deleted_User wrote: »

That's exactly the sort of thing were talking about.

The OP comes here in desperation and gets a load of mocking, basically some posters laughing at his misfortune.

I appreciate more care should have been taken etc etc but stop giving people such a hard time.

Just because 3/4 of you are at home watching 'Homes under the hammer' thus knowing everything about buying at auction.

The OP's grammar is a little poor so probably not British either.

The OP's best bet is to try and obtain the mortgage by the middle of March or possibly a bridging loan.Unfortunately we don't have his full circumstances.

I think the title and main thrust of the thread is issue. MISREPRESENTATION is a strong word and I for one came here to offer support if I could.

What I read fell far short of that, and the OP did not seem to acknowledge his responsibility or take ownership of his mistake. We all make them so it would have garnered more empathy.

What that left were our opinions and a general discussion as to what could be done, given the few facts available.

Not mocking but definitely a certain amount of incredulity. I did have a light-hearted exchange with a poster, but it was not aimed at or intended towards OP.

There is indeed support and useful information in the thread, should they return imo. My first post is an example, but there are others far better.

stator

Jhoney wrote: »

What that left were our opinions and a general discussion as to what could be done, given the few facts available.

No, the vast majority of the thread has been criticising the OP for what they SHOULD have done, which is of course completely useless.

AMILLIONDOLLARS

AdrianC wrote: »

<shakes head, sadly>

However you may parse that very brief description, and I'm still reading it as three rooms total, why would ANYBODY bid at auction for somewhere that they hadn't actually satisfied themselves EXACTLY what they were trying to buy?

And why would anybody pay damn near double the guide price for a manky flat in one of the least desirable corners of London, whether they'd seen it or not...?

That so called least desirable corner London, will be worth quite a bit when the Crossrail comes rolling into town. it will be sandwiched between Woolwich and Abbeywood, roughly a couple of miles each way. Woolwich centre is going through a major rejuvenation and Berekely Homes are building flats costing 500k+ and the DLR is already operational. Moves are a foot to turn it from Zone 4 into Zone 3. Investors are slowly selling up from the big crash and due to the fact that Councils are no longer funding the big rents, their tenants are moving out, owner occupiers are slowly moving in as they can now see the potential. by 2018 it will be a place to watch.

AMD

AdrianC

AMILLIONDOLLARS wrote: »

Woolwich centre is going through a major rejuvenation

It's a few years since I was a student there, but - by crikey - it was well overdue for it.

Even then, Thamesmead was a white elephant, stuck out in the back end of nowhere with only Belmarsh prison for company.

And as for Abbeywood being near-neighbour, what about the joys of Plumstead?

Jhoney_2

Deleted_User wrote: »

That's exactly the sort of thing were talking about.

The OP comes here in desperation and gets a load of mocking, basically some posters laughing at his misfortune.

I appreciate more care should have been taken etc etc but stop giving people such a hard time.

Just because 3/4 of you are at home watching 'Homes under the hammer' thus knowing everything about buying at auction.

The OP's grammar is a little poor so probably not British either.

The OP's best bet is to try and obtain the mortgage by the middle of March or possibly a bridging loan.Unfortunately we don't have his full circumstances.

Lots of british people have poor grammar - but if indeed you are right, the OP seems to have a considerable grasp of the definition/spelling of the wrong thought to have been done.

As such there was the capacity to ask, enquire etc and understand what they were getting in to.

I am sorry that it has happened, but there is no victim here. That does not mean people will not try to help.

I have no idea how to buy property at auction - and nor did OP. That is not the solution, but it is the fact.

AMILLIONDOLLARS

AdrianC wrote: »

It's a few years since I was a student there, but - by crikey - it was well overdue for it.

Even then, Thamesmead was a white elephant, stuck out in the back end of nowhere with only Belmarsh prison for company.

And as for Abbeywood being near-neighbour, what about the joys of Plumstead?

Plumbstead? Have a look on Rightmove! These are the last few affordable spots within Greater London. This year watch them climb!

AMD

losgiganteskid

quotememiserable wrote: »

This happens quite a lot, and I find it quite odd. OP asks a question then goes away and doesn't come back.

Indeed - I am sceptical when I see a first time poster posing a "dilema" (not only a dilema - but an "urgent dilema) - and not posting any further replies.


We must realise that there are those amongst us who like having a laugh - and will set themselves up as a newby - start a thread to which there will be many people airing their views and be sitting in the background chuckling away at posters having a ding dong with each other.


Remember - not everything you see or read on the internet is what it seems !!

G_M

losgiganteskid wrote: »

Indeed - I am sceptical when I see a first time poster posing a "dilema" (not only a dilema - but an "urgent dilema) - and not posting any further replies.


We must realise that there are those amongst us who like having a laugh - and will set themselves up as a newby - start a thread to which there will be many people airing their views and be sitting in the background chuckling away at posters having a ding dong with each other.


Remember - not everything you see or read on the internet is what it seems !!

Shucks!

I've been rumbled!

Jhoney_2

losgiganteskid wrote: »

Indeed - I am sceptical when I see a first time poster posing a "dilema" (not only a dilema - but an "urgent dilema) - and not posting any further replies.


We must realise that there are those amongst us who like having a laugh - and will set themselves up as a newby - start a thread to which there will be many people airing their views and be sitting in the background chuckling away at posters having a ding dong with each other.

Yes but it's only a Cyber ding dong

Remember - not everything you see or read on the internet is what it seems !!

Touche

Then the joke is on them and somewhat ironic.