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Conflict of Interest
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alphabravocharli
Posts: 90 Forumite
Hi all,
Does anyone know that is there conflict of interest for State agent and Seller to be same person.
Actually i bought a house and during whole time state agent and seller gave impression they are different person but when i actually went to collect keys of the house i found out that they are the same person. Now obviously first question that came into my mind is "why the hell she lied the whole time. What she is hiding". Is it allowed for state agent to hide that she is the actual owner.
Does anyone know that is there conflict of interest for State agent and Seller to be same person.
Actually i bought a house and during whole time state agent and seller gave impression they are different person but when i actually went to collect keys of the house i found out that they are the same person. Now obviously first question that came into my mind is "why the hell she lied the whole time. What she is hiding". Is it allowed for state agent to hide that she is the actual owner.
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The estate agent is meant to be on the seller's side anyway, so in that sense it's not really a "conflict" - but I think they are meant to disclose if the seller actually works for the agents (have seen it in property listings occasionally).0
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I still didn't understand why she didn't disclose, she was the same person(Sellet/Agent) who was dealing with me on phone and pretending to be a different person. What benefit she would get by doing this.The estate agent is meant to be on the seller's side anyway, so in that sense it's not really a "conflict" - but I think they are meant to disclose if the seller actually works for the agents (have seen it in property listings occasionally).0
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From The Property Ombudsman section on conflict of interest
If you are selling a property that is owned by you, an employee
or an associate (or an associate of an employee) or in which
you, an employee (or an associate of an employee) has an
interest, you must by law, before negotiations begin,
immediately make this known, in writing.0 -
Have you been disadvantaged in any way by the estate agent being the vendor? I would think it more questionable if the estate agent was the buyer of a property they were marketing.#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3660
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alphabravocharli wrote: »Actually i bought a house and during whole time state agent and seller gave impression they are different person but when i actually went to collect keys of the house i found out that they are the same person.
Hmm, how exactly did you find out, what were the exact words?0 -
alphabravocharli wrote: »What benefit she would get by doing this.0
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Thanks for letting me knowDeleted_User wrote: »From The Property Ombudsman section on conflict of interest
If you are selling a property that is owned by you, an employee
or an associate (or an associate of an employee) or in which
you, an employee (or an associate of an employee) has an
interest, you must by law, before negotiations begin,
immediately make this known, in writing.0 -
I am not too sure what she was hiding which i might come to know later as just today i got the keys of house and due to visit house in an hour.
But doing the process there was one argument which came up at that time that state agent advertised the house as 4 bedroom whereas 4 bedroom was a dormer conversion which didn't had building regulation approval as state agent said that it was probably done 30 years ago so it is not required but they can advertised it as 4 bedroom house. Whereas i find out that when lender brought the property, it was advertised as 3 bedroom. As this all issue came out just before exchange of contract so i let it go as house valuation was same what we agreed before. Even my home buyer report value the property which we agreed.Have you been disadvantaged in any way by the estate agent being the vendor? I would think it more questionable if the estate agent was the buyer of a property they were marketing.0 -
It was like when we wanted to visited the property it was said by her that owner will do the viewing she will not be available and whenever we said something she use to say let me talk to owner will get back to you.0
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It was like when we wanted to visited the property it was said by her that owner will do the viewing she will not be available and whenever we said something she use to say let me talk to owner will get back to you.onwards&upwards wrote: »Hmm, how exactly did you find out, what were the exact words?0
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