Estate Agents -material information disclosure

Jumblebumble

Sazot said:

pinkshoes said:

The EA and the solicitor are not the same entity. The EA likely did not know why the buyer pulled out. The solicitor might not have passed down this info. 

It would be verifficult to prove that the EA knew this.

Can you not get some sort of indemnity insurance?

Thanks for your response. 

We were very specifically told that the resin for the last sale falling through was for personal reasons and not anything related to the house. That seems odd to me and if they didn’t know, why not say?

What would the indemnity insurance be for? We are very far down the line. Our sale is good to go, it’s the purchase holding things up.

Was the estate agent foolish enought to put this in writing?

TheJP

Sazot said:

pinkshoes said:

The EA and the solicitor are not the same entity. The EA likely did not know why the buyer pulled out. The solicitor might not have passed down this info. 

It would be very difficult to prove that the EA knew this.

Can you not get some sort of indemnity insurance?

Thanks for your response. 

We were very specifically told that the resin for the last sale falling through was for personal reasons and not anything related to the house. That seems odd to me and if they didn’t know, why not say?

What would the indemnity insurance be for? We are very far down the line. Our sale is good to go, it’s the purchase holding things up.

Maybe thats what the previous buyers told the EA that is the reason they are pulling out...

HillStreetBlues

TheJP said:

Sazot said:

pinkshoes said:

The EA and the solicitor are not the same entity. The EA likely did not know why the buyer pulled out. The solicitor might not have passed down this info. 

It would be very difficult to prove that the EA knew this.

Can you not get some sort of indemnity insurance?

Thanks for your response. 

We were very specifically told that the resin for the last sale falling through was for personal reasons and not anything related to the house. That seems odd to me and if they didn’t know, why not say?

What would the indemnity insurance be for? We are very far down the line. Our sale is good to go, it’s the purchase holding things up.

Maybe thats what the previous buyers told the EA that is the reason they are pulling out...

Maybe, but if a person had a legitimate reason for pulling out, why bother making another one up.

Sazot

Jumblebumble said:

Sazot said:

pinkshoes said:

The EA and the solicitor are not the same entity. The EA likely did not know why the buyer pulled out. The solicitor might not have passed down this info. 

It would be verifficult to prove that the EA knew this.

Can you not get some sort of indemnity insurance?

Thanks for your response. 

We were very specifically told that the resin for the last sale falling through was for personal reasons and not anything related to the house. That seems odd to me and if they didn’t know, why not say?

What would the indemnity insurance be for? We are very far down the line. Our sale is good to go, it’s the purchase holding things up.

Was the estate agent foolish enought to put this in writing?

No they didn’t unfortunately.

Sazot

WIAWSNB said:

Hi Sazot.
How much do you still want the house? How happy are you with the quality of extension build? Did your survey pick up any concerns with it?
I'm not sure how well an indemnity policy will cover you here - I just don't know. My concern is that Planning/Build Control will know about it, possibly due to enquiries prompted by the sale, so may have in mind to investigate at some point? Or, if the policy is called on, BC will let them know they were aware from the off.
Do you have a case against the EA? Most likely 'yes', if you can prove they knew. How can you do that? Dunno, but I guess if the vendor 'fesses that they told them, or if you find the pulled-out buyer. You might them be able to persuade the EA to cover your pull-out conveyancing costs to date, or you'll have to report them.
Keep the emotive out of it. Aim for the prize, if you still want it.
What you can say is that the EA does now know, since you've told them. Therefore, if you pull out, then they 'must' declare this issue going forwards. On that basis, has the house's value changed? Can you negotiate a discount that would let you continue with the purchase?
In short, what is it you now want?
What's the actual story behind the lack of completion cert? Was PP - if required - applied for? Was BC? Did the BCO come out at any point, say to check the founds? And what are the remaining 'issues' with the build that needs resolving?
BCOs are usually not unreasonable folk. If, say, they were involved at the start, passed the foundations and other possible stages, but are not convinced/have evidence of later elements, then a builder should be able to give you ballpark figures for sorting them. 
Eg: level of insulation - 'inspection would be ~£200 (perhaps some holes and endoscope), but to bring up to standard if not compliant £6k'. That sort of thing. 
You then make your call. 

Thanks for your detailed response. Lots to think about. You are right about the emotional investment perspective and keeping that separate. It can be difficult to take a practical stance / approach but that’s what’s needed. 

ExEstateAgent

HillStreetBlues said:

TheJP said:

Sazot said:

pinkshoes said:

The EA and the solicitor are not the same entity. The EA likely did not know why the buyer pulled out. The solicitor might not have passed down this info. 

It would be very difficult to prove that the EA knew this.

Can you not get some sort of indemnity insurance?

Thanks for your response. 

We were very specifically told that the resin for the last sale falling through was for personal reasons and not anything related to the house. That seems odd to me and if they didn’t know, why not say?

What would the indemnity insurance be for? We are very far down the line. Our sale is good to go, it’s the purchase holding things up.

Maybe thats what the previous buyers told the EA that is the reason they are pulling out...

Maybe, but if a person had a legitimate reason for pulling out, why bother making another one up.

Because - possibly - it's easier to saysomething like 'I might be made redundant soon' which the EA can't try to resolve for them, so it's an absolute dead end, not a case of 'oh, we didn't know about that, we'll liaise with the vendor to try and resolve this for you asap'. 

I heard all sorts of false excuses in my time as an EA!