Wording on estate agent site

oldwiring

PLEASE NOTE WE ARE NOT COVERED BY CLIENT MONEY PROTECTION INSURANCE UNDER THE CONSUMER RIGHTS ACT 2015

is what appears on a local independent agent's website. They have been established for about 40 years.

My wife and I are beginning to consider downsizing and want to know the implications of the words, should we chance to have dealings with a firm making such a statement.

davidmcn

None at all as you wouldn't be giving the estate agents money.

eddddy

oldwiring wrote: »

PLEASE NOTE WE ARE NOT COVERED BY CLIENT MONEY PROTECTION INSURANCE UNDER THE CONSUMER RIGHTS ACT 2015

is what appears on a local independent agent's website. They have been established for about 40 years.

My wife and I are beginning to consider downsizing and want to know the implications of the words, should we chance to have dealings with a firm making such a statement.

I guess they do property lettings as well as sales.

It means they're not allowed to hold any landlord's or tenant's money - like rent or deposits.

So it won't affect you, if you're buying or selling.


Although, if they have a lettings business, you might wonder why they haven't joined an insurance scheme for it. Perhaps it suggests that they are a bit of a budget / unprofessional operation. Or maybe not.