A property was sold to us under the false premise that it was ready. Is this fraud?

tzzt123

Hello all,

The topic seems vague, but a bit of background:

1. This is a flat in a converted building with 50 apartments being sold.

2. We saw the flat several times, it was visually ready. We also tested the water, electricity. All ready except minors snagging items. To quote, the seller said it was 'ready to move into as soon as we have the money'.

3. It's been 4 months since reservation (which included an exchange date provided exchange dates provided within 28 days). The mortgage has been sitting ready for 3.5 months now.

4. We've discovered in those 4 months that the apartment was not ready: Inspection was not done,more work was required on the building, Warranty was not provided yet (including the inspection required as well)

5. The seller also, possibly by accident, now admitted that they were negotiating with a large investor to buy all the apartments for the last few months, after reservation, without telling us, and that was also why things were stalled.

The deal did not go through, and they are now very slowly picking up.

00ec25

what is your question?

your title says it was sold to you

your blurb above implies you have not yet completed

maninthestreet

Have you even exchanged contracts??

tzzt123

@00ec25:

1. We reserved based on the premise it was 'ready to go'. The seller has been holding a carrot in front of us for the past 4 months, yet shifting the goal post from a week to another.

2. We haven't been able to complete or exchange, all because of the seller, while our mortgage has been ready for months

3. We moved into my room together based on the fact we thought it would take a few weeks. Our dog has been in a kennel for over 4 months now. We've been living on our suitcases. Our rent agreement had to be extended multiple times. We have not been able to plan anything and even canceled holidays due to the fact that the seller has been saying they'll be ready in 2 weeks, almost 2 weeks, not to mention the stress that is now visible and felt quite strongly due to this.

tzzt123

We exchanged MoS which states that exchange dates would be provided within 28 days.

And obviously reserved and took actions based on the seller's words that the apartment was ready to move into.

davidmcn

Haven't we done this one before?

https://forums.moneysavingexpert.com/discussion/5714269

tzzt123

@davidmcn, kinda - yet, I still don't know if that could be considered fraud, or whether the legal system is not going to support us or any other people being mistreated by sellers of this kind.

SuboJvR

tzzt123 wrote: »

@00ec25:

1. We reserved based on the premise it was 'ready to go'. The seller has been holding a carrot in front of us for the past 4 months, yet shifting the goal post from a week to another.

2. We haven't been able to complete or exchange, all because of the seller, while our mortgage has been ready for months

3. We moved into my room together based on the fact we thought it would take a few weeks. Our dog has been in a kennel for over 4 months now. We've been living on our suitcases. Our rent agreement had to be extended multiple times. We have not been able to plan anything and even canceled holidays due to the fact that the seller has been saying they'll be ready in 2 weeks, almost 2 weeks, not to mention the stress that is now visible and felt quite strongly due to this.

Hmm.

Obviously difficult situation for you, but if you haven't even exchanged contracts you were and are free to walk away. With the dog, and suitcases - it was definitely premature to begin making "moving out" preparations before any ink had been signed.

What does your solicitor make of all this?

tzzt123

@SuboJvR:

Free to walk away does not include being abused. The seller was obviously not ready, and so I am asking whether he was legally permitted to sell us the house based on these false promises and take our money (For the reservation - (2000gbp non-refundable fee)

As for the move, right - my partner's parents were in the process of selling their house, and when the option of buying this house became available, we reserved it largely based on the fact that it was ready, knowing it would not take too long to move in.

I don't see a situation where we are expected to know all the in and outs of what needs to be done to have an apartment ready to move into - that's for me the seller's responsibility.

He's selling a product, therefore it's his obligation, to be honest about it.

RedFraggle

He hasn't sold you anything or legally committed to. You have nothing in writing so you don't have a leg to stand on. You have made an offer on a property and are waiting to exchange.

theartfullodger

Next time someone promises you something, get it in writing: If they decline to put it in writing, walk away.