Misleading Estate agent - putting off buyers?

Slithery

Ignore Zoopla, you'll get a better valuation by licking your finger and waving it round in the air.

michael1234

Slithery said:

Ignore Zoopla, you'll get a better valuation by licking your finger and waving it round in the air.

Perhaps but given it broadly takes the previous selling price and adds on house price inflation for the area its a tool to be used. Certainly EAs in my area use it as a starting point.

eddddy

Rebeccas90 said:

We've given our 28 days notice, the EA have not said if they will send details who they have spoken with to the new EA. 

They should give the list to you, not to the new EA.

It's then up to you to agree with the new EA that they won't negotiate with the people on the list, or claim a fee if somebody on the list buys.

Rebeccas90 said:

They've said their advert could still influence someone to buy the property. 

If they're saying that they should get a fee if a somebody sees their advert and then goes on to buy your property - they are incorrect.

This was tested in the Appeal Court in 2008 - and seeing an advert wouldn't count as an "introduction".


Consequently, the Property Ombudsman expects an EA to do something like arrange a viewing, in order for it to count as an "introduction".

TheJP

Rebeccas90 said:

Yes, our neighbours are lovely. I trust what they said they heard.

The manager finally responded when we put our complaint in writing (thank you for suggesting this), she said that she doubts her EA did this but she will talk to her

We've given our 28 days notice, the EA have not said if they will send details who they have spoken with to the new EA. They've said their advert could still influence someone to buy the property. Someone at my husbands work is looking into the contract for us. They aren't a pay up front EA

Zoopla says it's about 165k now, we've spent about 52-55k fixing it up. Our EA does not know what we spent on it when they valued it so not too sure. The highest valuation was 210k but that's not going to happen in this area!

We had a survey when we bought it but the surveyor said the old owners had stuff everywhere and he could not access a lot of walls or part of the garden. Basically it seems they hid the signs of the roof leaking, rotten flooring, black mould, missing insulation, faulty wiring, missing pointing, etc. All are fixed now

Apparently the old owners had 2 buyers fall through then they took it off the market and when they put it back on it was for 15k less. That's when we saw the house and bought it. They said it was reduced because they were in a rush as they'd already found a house.

For the love of god don't trust a zoopla valuation, pointless! My neighbours house which is identical had a better finish and much better conservatory was valued by Zoopla £30k less because they bought in 2003 and we bought in 2017. 

Crashy_Time

diggingdude said:

I think your difficulties could be that it's on a council estate which would always put many off and you are asking a lot more money than what you paid only 18 months ago. My issues for not buying would be

1) I'm not living on a council estate 
2) why do they think it's worth that. I know they only paid X amount 18 months ago. 
3) they are moving after 18 months.despite spending all that money.  Must be a troublesome council estate neighbour.

Not saying any of those are true or fair but realistic for some I reckon 

Good points, nobody really cares how much you spend on a refurb, they are looking at size and location mainly IMO.

Crashy_Time

Rebeccas90 said:

Yes, our neighbours are lovely. I trust what they said they heard.

The manager finally responded when we put our complaint in writing (thank you for suggesting this), she said that she doubts her EA did this but she will talk to her

We've given our 28 days notice, the EA have not said if they will send details who they have spoken with to the new EA. They've said their advert could still influence someone to buy the property. Someone at my husbands work is looking into the contract for us. They aren't a pay up front EA

Zoopla says it's about 165k now, we've spent about 52-55k fixing it up. Our EA does not know what we spent on it when they valued it so not too sure. The highest valuation was 210k but that's not going to happen in this area!

We had a survey when we bought it but the surveyor said the old owners had stuff everywhere and he could not access a lot of walls or part of the garden. Basically it seems they hid the signs of the roof leaking, rotten flooring, black mould, missing insulation, faulty wiring, missing pointing, etc. All are fixed now

Apparently the old owners had 2 buyers fall through then they took it off the market and when they put it back on it was for 15k less. That's when we saw the house and bought it. They said it was reduced because they were in a rush as they'd already found a house.

Most commentary on here says that Zoopla isn`t a good guide, what does PropertyLog say about your area?

Crashy_Time

Is there a Rightmove link? 

rexmedorum

Crashy_Time said:

diggingdude said:

I think your difficulties could be that it's on a council estate which would always put many off and you are asking a lot more money than what you paid only 18 months ago. My issues for not buying would be

1) I'm not living on a council estate 
2) why do they think it's worth that. I know they only paid X amount 18 months ago. 
3) they are moving after 18 months.despite spending all that money.  Must be a troublesome council estate neighbour.

Not saying any of those are true or fair but realistic for some I reckon 

Good points, nobody really cares how much you spend on a refurb, they are looking at size and location mainly IMO.

While people don't care how much previous owners have spent they do absolutley care how nice kitchen & bathroom are though don't they?

Crashy_Time

rexmedorum said:

Crashy_Time said:

diggingdude said:

I think your difficulties could be that it's on a council estate which would always put many off and you are asking a lot more money than what you paid only 18 months ago. My issues for not buying would be

1) I'm not living on a council estate 
2) why do they think it's worth that. I know they only paid X amount 18 months ago. 
3) they are moving after 18 months.despite spending all that money.  Must be a troublesome council estate neighbour.

Not saying any of those are true or fair but realistic for some I reckon 

Good points, nobody really cares how much you spend on a refurb, they are looking at size and location mainly IMO.

While people don't care how much previous owners have spent they do absolutley care how nice kitchen & bathroom are though don't they?

Maybe, but they won`t pay massively over the odds for an ex-council house just because the bathroom and kitchen are presentable.

rexmedorum

Crashy_Time said:

rexmedorum said:

Crashy_Time said:

diggingdude said:

I think your difficulties could be that it's on a council estate which would always put many off and you are asking a lot more money than what you paid only 18 months ago. My issues for not buying would be

1) I'm not living on a council estate 
2) why do they think it's worth that. I know they only paid X amount 18 months ago. 
3) they are moving after 18 months.despite spending all that money.  Must be a troublesome council estate neighbour.

Not saying any of those are true or fair but realistic for some I reckon 

Good points, nobody really cares how much you spend on a refurb, they are looking at size and location mainly IMO.

While people don't care how much previous owners have spent they do absolutley care how nice kitchen & bathroom are though don't they?

Maybe, but they won`t pay massively over the odds for an ex-council house just because the bathroom and kitchen are presentable.

I meant more the other way: would certainly pay less of those were in a poor state.