I am on the verge of backing out of a property sale. What are my options? [Merged]

sheramber

Since you haven’t exchanged you can reduce your offer due to the gates not working or not go ahead with the purchase.

Either of which could result in the sale falling through. 

raptor2004

strange how everyone is on the EA's side when we all know EAs have a certain reputation...

bobster2

Given that OP owns a Porsche, Volvo, and BMW - and has spent quite a bit getting them repaired (see other threads) I'm surprised they are so concerned about the likely small cost of repairing an electric gate. And getting the seller to leave the kitchen stools.

Mutton_Geoff

[Deleted User] said:

Why haven't you made enquiries or taken a quote (you've already received good advice re expected costs)?

Once again, you're not coming over as a serious buyer...

Check out the OP's other posts, particularly in the motoring section. They are an excellent story teller.

Hoenir

raptor2004 said:

strange how everyone is on the EA's side when we all know EAs have a certain reputation...

Business relationships work two ways. EA's only role is to facilitate. Reputations ultimately are created by what people say and write. Rather that a broad brush character assassination on social media without foundation. 

raptor2004

As title says what are the rights of EAs on how they express property information to potential buyers and not mislead them?
I am in the process of purchasing a property and agreed a sale price. The EA advertisement said, "gated property". I was told many times by the EA that the electric gates should work, it was used only a few months ago, vendors are trying to find the fobs/instructions etc.

I have now found out that the electric  gates do not work and the vendors are not going to do anything about it - this was actually commucated to the EA 3 weeks ago but they only bothered to tell me now. Furthermore the vendor said they haven't seen the gate work in years which is contradictory to what I have been told.

I never made a condition in the sale price that the gates should be repaired but assumed they should be working (as that was the impression the EA gave) or it should be repaired.

The EA and now saying the property description only described it as "gated" and not "electric gated". Surely this is just playing semantics, a gated property can either be manual or electric and the movement of which it neccesates power or not is irrelavent. I have paid a deposit to the EA and I think they are alluding that this is their get out clause and therefore will not refund me.

I have communication with the EA for the last 2 months or so contininually asking about the status of the gates and the response was usually that the vendors are looking for the fobs and instructions on how it works but it should work.

Do I have grounds on which the EA midled me?

eddddy

What outcome are you looking for?

For the purposes of discussion, lets assume that the EA gave you misleading material information and/or treated you unfairly...

... what financial losses have you suffered as a result?

• Now you know that the gates don't work, you can reduce your offer to take that into account (so no financial loss to you)

• Or are you thinking of walking away specifically because the gates don't work - and therefore you've lost solicitor's fees, survey fees, etc?

• Or do you just want the EA to get a telling-off from the ombudsman, and told to apologise to you?

Or something else?

 

Browntoa

It's "gated" regardless of it actually working 

The agent would have relayed what they could see ( a gate ) and were told ( looking for fobs) so they would argue it wasn't false advertising 

daveyjp

Don't waste your time.

An estate agent won't go into the finite details of everything working, thats down to the buyer.

The buyer then offers a price based on property condition.

You paying a deposit to the agent sets my alarm bells ringing, is this a 'modern method of auction' sale?  

elsien

The estate agent advertises on the basis of the information given by the vendor. Unless it’s bleeding obvious that those are wrong, any  differences get picked up during the buying process. As above, you either accept,  negotiate or walk away.