Mid-sold a flat

westernpromise

Vel852 wrote: »

Many thanks for all your responses! I've decided to pull out of the sale as the flat may end up being difficult to re-sell in the future. Only 2 flats out of 6 are privately owned the rest are council tenants.

Probably wise. You'd be up for 1/6 of the maintenance costs whereas 4 or the other occupants will pay nothing at all, so they won't be much engaged with the process of getting works done promptly and at a decent standard and price.

In a block of private flats there's a higher prospect of the other occupants being demographically similar to you. This is helpful with things like noise issues - you will all be at work or at home at much the same times, for example.

sebtomato

Just do a money claim/small claim against the Estate Agent for the money wasted by their incorrect answer. Given the small amount, it shouldn't be an issue

clippy_girl

As king street says it's now the consumer protection from unfair trading regulations 2008 unless you are a landlord (then it's the other ones). The fact you asked shows that it is material to you. You do not actually have to have bought it. You were misled into putting in an offer and have spent money in the process. The EA cannot simply just rely on info from vendor and pass it on. Well they can but then they will not have a defence when this happens.

Write to estate agent and tell them they provided you with misleading info about the flat which resulted in you putting in an offer. Now you have found out that information is not true you are pulling out and have lost £900. Ask them to reimburse you.

They have committed a criminal offence under these regulations which they could be prosecuted for (unlikely though unless they make a habit of it). You can report them to citizens advice helpline/website. You could also see if they belong to an ombudsman?

bris

Did you make it clear that the answer to the question was fundamental to whether or not you were going ahead?


As your solicitor is the professional you employ to determine these things the court may dismiss it as a simple mistake that should have been professionally researched, so whether the estate agent answered or not the searches needed to be done, so no real loss.

MisterB1959

i have two ex local authority flats - and would buy more!! - they are perfect for letting, in an area where this a housing demand (that's why they were built) have a great record of maintenance, LOW annual fees (have you checked comparable properties) and they usually have larger than average room sizes.


there seems to be some sort of stigma with ex local authority, yet in many parts of the country, London as the prime example, that stigma is fast disappearing.


what is it that you don't like about ex la housing? is it the area or the property? all new build developments over a certain size have to provide social housing, so you may buy a flat in a block that has tenants who would otherwise be local authority tenants?

Vel852

Thanks again for your responses. I'm a FTB and this flat is meant to be my home. I understand ex-LAs have great letting potential however, this isn't my intention. The area is lovely and it's in a small block on a nice street. However, I hope to sell it in a few years and move onto something bigger and I just don't think I'll get the same return if it wasn't a an ExLA. Other "Advertised" ExLAs in the area (same post code) sold for up to 50 grand less in the last 6 months, on 25 grand less in the last month.

The services charges are about £300 less than an non-ExLA flat however these have a slush fund to compensate for any major building works. I looked at the property again at the weekend and it just didn't have the same appeal as it did when I first made my offer.