Dishonourable, but legal.

Bendy_House

They've had at least 5 buyers pull out in the space of around 6 months following their struct surveys.

Oh, the EA does know...

Thrugelmir

Bendy_House said:

Wife's been told that the vendor - and EA - are essentially holding out for a cash buyer, one who might not bother with a survey...

What financial interest does the EA have in the property? Until a sale is concluded they are simply incurring further costs in marketing the property and wasting valuable time. Vendor is the one that decides what to do. Subsisdence need not be the end of the world. 

Bendy_House

The EA won't have any more interest in this than any other property - they just want it sold. Yes, they'll earn a bit more if sold at this price rather than at one reflecting the work required (I forget the quoted sum, but it was in excess of £100k), but ultimately EAs just want properties shifted.

'All' the EA is doing is continuing to market it at the vendor's request and at the vendor's required value, whilst keeping 'the' information to themselves.

[Deleted User]

Bendy_House said:

The EA won't have any more interest in this than any other property - they just want it sold. Yes, they'll earn a bit more if sold at this price rather than at one reflecting the work required (I forget the quoted sum, but it was in excess of £100k), but ultimately EAs just want properties shifted.

'All' the EA is doing is continuing to market it at the vendor's request and at the vendor's required value, whilst keeping 'the' information to themselves.

Information that their regulating body says they should disclose.

Thrugelmir

Care to share a link to the listing? 

user1977

Thrugelmir said:

Care to share a link to the listing? 

They already have.

owenjt

My mother-in-law just had to pull out of a purchase due to subsidence/underpinning which wasn't declared when the property was for sale. The property was not listed at a price that reflected this and months of trying to get some detail about the underpinning work that was done resulted in nothing but a Building Completion Certificate.

The vendors/EA just wanted her to get on with the purchase and pretty much ignored her requests for further information, continually putting pressure on her and trying to have conversations about exchange/completion. Looking further into the sale history, it looks like it's been put on several times over a number of years and not sold.

I don't know how some EA's sleep at night. The way she's been treated is disgraceful. I bet if she complained they'd just say they didn't know about the subsidence in the first place.

TBagpuss

owenjt said:

My mother-in-law just had to pull out of a purchase due to subsidence/underpinning which wasn't declared when the property was for sale. The property was not listed at a price that reflected this and months of trying to get some detail about the underpinning work that was done resulted in nothing but a Building Completion Certificate.

The vendors/EA just wanted her to get on with the purchase and pretty much ignored her requests for further information, continually putting pressure on her and trying to have conversations about exchange/completion. Looking further into the sale history, it looks like it's been put on several times over a number of years and not sold.

I don't know how some EA's sleep at night. The way she's been treated is disgraceful. I bet if she complained they'd just say they didn't know about the subsidence in the first place.

I expect they would, and they might be telling the truth. However if she now complains then they definitely do know, as she will have notified them in writing, and if  the property is re-listed without any information being disclosed she could flag it with the ombudsman. 

owenjt

TBagpuss said:

I expect they would, and they might be telling the truth. However if she now complains then they definitely do know, as she will have notified them in writing, and if  the property is re-listed without any information being disclosed she could flag it with the ombudsman. 

The property has been relisted and contains a line stating that unpinning was carried out to the rear - this is actually more information than my mother-in-law managed to obtain in about 4 months!

tooldle

owenjt said:

TBagpuss said:

I expect they would, and they might be telling the truth. However if she now complains then they definitely do know, as she will have notified them in writing, and if  the property is re-listed without any information being disclosed she could flag it with the ombudsman. 

The property has been relisted and contains a line stating that unpinning was carried out to the rear - this is actually more information than my mother-in-law managed to obtain in about 4 months!

So historic rather than a current problem?