Warning to Next Buyer!

Francurotto

Hi,

My partner and I are first time buyers and have had to make the difficult decision to pull out of our purchase. This is not a decision we took lightly, but it was the best decision for us. Now we don't want another first time buyer/buyer to fall victim to a dishonest estate agent and vendor we were dealing with.

We found our perfect house on the 2nd June 2016 and our offer was accepted on the 4th June, £5k over asking price. Everything was moving very quickly and when we placed our offer we stated in writing that it was subject to survey. The estate agent and vendor were adamant we didn't need a survey, and kept pushing their home buyers report from 2008 on to us. Despite this I arranged a buildings survey, only to have the estate agent contact the surveyor behind my back and cancel the survey. He told the surveyor that my partner and I had been holding things up for months and that our completion date was only a few days away - none of this was true.

I rescheduled the survey and low and behold the survey came back estimating in excess of £14k priority work needing to be carried out, £16k estimated work in total - we're talking 80%-90% moisture detected in timber and walls etc.

We approached the vendors to renegotiate an offer in light of the findings, and they would not budge, claiming the survey was wrong. We were left no other option but to walk away, as this house was no longer a financially viable option for us.

This happened on Sunday 17th July, the house is now back up for sale as a 'star buy' on Zoopla, both vendor and estate agent said that they will sell the house and hope the new buyer doesn't get a survey done. With the pressure that I was put under by the estate agent and vendor to not have a survey I can see someone, probably a first time buyer falling victim to this and I'd like to do everything in my power to stop this happening.

Is it illegal to not disclose the work that needs doing? or will the estate agent and vendor get away with this?

foxy-stoat

No law as it was your survey not the vendor's.

You have to hope that the next interested buyers do their homework and get proper surveys done. Eventally the vendor and Estate Agent will drop the price accordingly to take into account the work that needs doing, unless the asking price reflects this already.

lincroft1710

I wonder if it would be libellous if you wrote a letter to your local paper naming and shaming EA. Don't disclose property address but give very subtle hints. If what you have reported is true and you have a survey to prove this then it may not be considered libellous.

Although paper may not print letter. Perhaps speak to a reporter on paper. But if EA takes pages of advertising space don't expect too much co-operation.

Ozzuk

Actually there is a law, estate agents have to comply with CPRs, I think it came in in 2013 to give buyers more protection. This certainly sounds like something they should be declaring...

Edit to add, just found a link:
http://hoa.org.uk/2013/10/what-estate-agents-have-to-tell-you-changes-to-the-law/

AdrianC

Francurotto wrote: »

both vendor and estate agent said that they will sell the house and hope the new buyer doesn't get a survey done.

Anybody buying with a mortgage is going to have a basic valuation survey carried out, at the absolute minimum. If the problem is as severe as your surveyor made out, then it will get flagged up as part of that.

80%+ moisture levels are going to be very obvious, even to anything much beyond a casual glance - and "No, this copy of an HBR from 8yrs ago will do you just fine..." should have got all sorts of alarm bells ringing. To be honest, I'd be somewhat less than chuffed at the surveyor taking instruction from the EA!

Francurotto

Thank-you all of the replies, here is hoping that as you say, the next buyers do their homework.

moneyistooshorttomention

Blimmin' cheek of it to take it upon themselves to cancel your survey.

....and yes the law does now compel EA's to tell would-be buyers any material facts they are aware of about the place - though my suspicion is that these EA;s will try and get away with not doing so.

david1951

Francurotto wrote: »

We found our perfect house on the 2nd June 2016 and our offer was accepted on the 4th June, £5k over asking price. Everything was moving very quickly and when we placed our offer we stated in writing that it was subject to survey. The estate agent and vendor were adamant we didn't need a survey (***ALARM BELLS***), and kept pushing their home buyers report from 2008 on to us (***MORE ALARM BELLS***). Despite this I arranged a buildings survey (well done), only to have the estate agent contact the surveyor behind my back and cancel the survey . He told the surveyor that my partner and I had been holding things up for months and that our completion date was only a few days away - none of this was true. (Ask the surveyor for the email from the estate agent)

I rescheduled the survey and low and behold the survey came back estimating in excess of £14k priority work needing to be carried out, £16k estimated work in total - we're talking 80%-90% moisture detected in timber and walls etc. (They didn't cancel this one then?)

We approached the vendors to renegotiate an offer in light of the findings (fair enough), and they would not budge, claiming the survey was wrong (how?). We were left no other option but to walk away, as this house was no longer a financially viable option for us. (good choice)

This happened on Sunday 17th July, the house is now back up for sale as a 'star buy' on Zoopla (link?), both vendor and estate agent said that they will sell the house and hope the new buyer doesn't get a survey done. With the pressure that I was put under by the estate agent and vendor to not have a survey I can see someone, probably a first time buyer falling victim to this and I'd like to do everything in my power to stop this happening.

Is it illegal to not disclose the work that needs doing? (technically, yes) or will the estate agent and vendor get away with this? (I doubt it given their less-than-subtle approach)

I think it is highly unlikely that anyone with a brain will ignore the alarm bells.

You could sell/give your story to a local paper and they may well run with it. This would be pretty vindictive, however, and may lead to legal action. Even if you win a libel case legal costs cannot be fully recovered.

Could (anonymously) stick the link on here and leave it at that.

halfone

As others have said, it's my understanding that if the estate agent has been informed/is aware of a defect with the property and fails to disclose that to potential buyers, then that's against their code of practice.

If the estate agent is a member of a trade body (National Association of Estate Agents is the main one I think), then there's a complaints process:

http://www.nfopp-regulation.co.uk/complaints/

Looks like you'd have to go back to the estate agent first though, which you may or may not want to do.

Smodlet

... and is there anything more to prevent an EA from lying than there is a vendor? All they have to do is say they were not aware. This new law is, imho, a complete rhymes with bank until or unless an EA (ideally) or a vendor is convicted of breaking it.

silvercar

We once looked at a fairly modern house that had had a 2 storey extension. We had a home buyers report (so in between valuation and full survey). That came back fine. We then got gazumped.

About a year later we bumped into friends of friends who had had a full structural survey that had identified a vertical crack in the upstairs, where the extension was pulling away from the main house. It turned out the owners had put fitted cupboards, floor to ceiling, with backs, to hide the crack. No surveyor would have found that.

The house has changed hands twice since, without any issues.