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Nightmare with Estate Agent - any rights?

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  • lincroft1710
    lincroft1710 Posts: 18,943 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The Scottish house buying process is different
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • forumchatter
    forumchatter Posts: 4 Newbie
    In what way did I mess them about? I proceeded and paid for searches, survey, and was ready to exchange. Through the actions of our buyer, I was forced into a position where I offered to purchase with pre-approved bridging finance. The vendors EA did not inform the vendor of this information.
  • Nobbie1967
    Nobbie1967 Posts: 1,669 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Maybe the other buyers were using the EA's mortgage adviser and recommended solicitors....
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    lincroft1710 wrote: »
    The Scottish house buying process is different

    It is, though I can't see why this scenario would be any different in Scotland (we might be in contracts at an earlier stage, but not if your funding is still in doubt).
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    forumchatter wrote: »
    Through the actions of our buyer, I was forced into a position where I offered to purchase with pre-approved bridging finance.

    Was it necessary to even tell them this? Couldn't you just have proceeded?
  • DRP
    DRP Posts: 4,287 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    AnotherJoe wrote: »
    Was it necessary to even tell them this? Couldn't you just have proceeded?

    Agree with this. Don't rock the boat unless you really have to. This is the problem of chinese whispers when using an agent as an intermediary, they have their own motives.


    Unfortunately OP has learnt a harsh lesson - too much honesty!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    forumchatter wrote: »
    The seller informed us that they were only told that we had lost our buyer, not of our bridging position. Had they known this, they would have continued with us.

    Did you actually have bridging finance in place or this was your plan?

    Where you new buyers also in a chain?

    If there was a cash buyer then I'd leave my options open. Given that time was of the essence.
  • mrsmazza
    mrsmazza Posts: 145 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    This happened to me 20yrs ago. It was a blessing in disguise, the house I ended up buying was in a better location.
  • lush_walrus
    lush_walrus Posts: 1,975 Forumite
    edited 1 June 2016 at 7:07AM
    Bridging is far more risky than a cash buyer. You would be surprised to hear how many buyers promise we can buy without a chain only for that not to be true. Furthermore EAs are obliged to put forward all offers for the vender to decide who to go with. The EA of course advises their client the least risky route and the best offer - in this case that is the other person. No wrong doing and the vendor could be saying they didn't know to get out of the situation of having to tell you they just prefer the other buyer.

    Bridging is expensive and risky route - it is the stuff of last resorts. You have already lost one buyer, what if the next drops out and the one after that- how long can you bridge for.
    It could be a blessing in disguise that you now will not need to.

    As others have said no recourse and no wrong doing by the EA.
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    Put yourself in the sellers shoes, risky bridging or a straight forward Buyer?
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
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