We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
The MSE Forum Team would like to wish you all a very Happy New Year. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
If a sale falls through, does the estate agent have to tell new perspective buys why?
Moneysaving222
Posts: 62 Forumite
My advisor told me that if the estate agent puts the property back on the market they have to tell the new buyer why the previous sale fell through.
Sounds great, but is he correct?
TIA
Sounds great, but is he correct?
TIA
0
Comments
-
Moneysaving222 wrote: »My advisor told me that if the estate agent puts the property back on the market they have to tell the new buyer why the previous sale fell through.
Sounds great, but is he correct?
TIA
Short answer - no.
Long answer - in some circumstances yes, but it's pretty much impossible to prove0 -
They don't
But you can't ask them to lie
Your agent wants the property sold, so presumably they are not planning on saying anything that causes concern. Collapse of the buyer's sale is the best outcome (if this is the truth). Failing a survey because its made of asbestos and Plasticine less so.0 -
Why would my mortgage advisor say that?0
-
Moneysaving222 wrote: »Why would my mortgage advisor say that?
clinical idiocy?0 -
Time to get a new one0
-
Or time to get your legal advice from your lawyer, rather than a mortgage advisor.Moneysaving222 wrote: »Time to get a new one0 -
Hi david he said he worked for an estate agent. It’s not legal advice.0
-
It reads like advice about the law to me. If he was giving you duff advice about mortgages, that would be a different matter.Moneysaving222 wrote: »Hi david he said he worked for an estate agent. It’s not legal advice.0 -
No legal requirement to disclose why a sale falls through.In some cases it might be wise for an agent or vendor to disclose the reason,for example if it fell through because of something that will have some affect on the sales going forward.
I once purchased a property where the sale had fallen through because of a nearby planning application,it bothered the previous potential buyer but not me.
Some sales fall through in the early stages because of inability to raise the mortgage for example.that shouldn't always have a bearing on the next purchaser.in S 38 T 2 F 50
out S 36 T 9 F 24 FF 4
2017-32 2018 -33 2019 -21 2020 -5 2021 -4 20220 -
OP, you might want to look into Consumer Protection from Unfair Trading Regulations
https://hoa.org.uk/2013/10/what-estate-agents-have-to-tell-you-changes-to-the-law/
Basically (lawyers will forgive my imprecisions), agents have to disclose any material fact. So if a buyer pulls out because of Japanese knotweed or because of some unsafe cladding, they have to tell you that.
But, if the landlord tried to gazump the buyer and the buyer pulls out, I don't think the agent has any obligation to tell you; he will probably just blame it on the buyer or say something about finance not arranged.
PS My starting assumption is never to trust anyone anyway - best to do your homework and pay for thorough surveys than to try to sue the agent and the vendor afterwards0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.8K Spending & Discounts
- 246.1K Work, Benefits & Business
- 602.2K Mortgages, Homes & Bills
- 177.8K Life & Family
- 260K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards