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Is it common for an Estate Agent to tell you about structural work on a property?
jamtart6
Posts: 8,302 Forumite
I've just spoken to an EA about 4 properties that need to be modernised and was told the following:
1. House #1 had serious structural issues so wouldnt be suitable for us as we need a mortgage (althought it didnt say cash offers only), plus a structural engineer had made an offer on it
2. House #2 needs underpinning which is a nightmare to then sell on once you've bought it - so we've put ourselves out of the running for this.
3. House #3 needs modernising, decorating and damp proofing but as far as she knows no structural disasters! - going to view but with caution as it is in the same neighbourhood as house 1 and 2 which leads me to believe that estate wasn't build on the most solid of ground!!
4. House #4 is fine and renovated, just needs decorating *phew* in a totally different area - going to view
What I thought was odd was that she was telling us these things? EA's aren't usually this honest, don't they let surveys pick these things up? Or are they under obligation to tell you exactly what is wrong with the property if they know about it? I thought they were trying to sell the house for the vendor, not protect the buyer? Obviously glad she told us, but are all EA's under obligation to tell you those sorts of things?
1. House #1 had serious structural issues so wouldnt be suitable for us as we need a mortgage (althought it didnt say cash offers only), plus a structural engineer had made an offer on it
2. House #2 needs underpinning which is a nightmare to then sell on once you've bought it - so we've put ourselves out of the running for this.
3. House #3 needs modernising, decorating and damp proofing but as far as she knows no structural disasters! - going to view but with caution as it is in the same neighbourhood as house 1 and 2 which leads me to believe that estate wasn't build on the most solid of ground!!
4. House #4 is fine and renovated, just needs decorating *phew* in a totally different area - going to view
What I thought was odd was that she was telling us these things? EA's aren't usually this honest, don't they let surveys pick these things up? Or are they under obligation to tell you exactly what is wrong with the property if they know about it? I thought they were trying to sell the house for the vendor, not protect the buyer? Obviously glad she told us, but are all EA's under obligation to tell you those sorts of things?
:ABeing Thrifty Gifty again this year:A
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There would be no point them wasting their time showing you around if they know perfectly well that your survey will pick up problems and stop the sale.
They have better things to do with their time. Web pages wont read themselves you know.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
Chances are the properties have fallen through previously because of the buyers survey. As an EA, why let someone get all the way to that point to drop out. They want to sell the house, so while it may narrow down the potential buyers available, it does at least give it more chance to proceed to sale.Keep the right company because life's a limited business.0
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In a rising market they'd want to get people through the door. And before lenders might have even lent on them.
However, this EA knows your position so won't be wanting to waste your/their time letting you view them as they know you won't be able to buy them.
They are therefore working on behalf of the sellers by not wasting the seller's time in getting excited they might have a buyer and tidying up.0 -
that kind of makes more sens now, thanks (PNew- they are empty and giving them a 'tidy' wouldn't do them any good! heehee!, but I know what you mean now, if there was a seller etc.) thanks guys! what a great board!
I've just got to sort out the two EA's who are marketing the same property now. one poached us, as i had gotten confused about the houses as 2 were on the same road, so had 2 of them fighting for the viewing between us as i'd been confused into booking both. argh the stress!
:ABeing Thrifty Gifty again this year:A
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soooooooo.... what I said then.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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Surely it's uncommon for an Estate Agent to tell the truth about any aspect of a house purchase?
Commission....commission...comission, that's their mantra.0 -
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Surely it's uncommon for an Estate Agent to tell the truth about any aspect of a house purchase?
Commission....commission...comission, that's their mantra.
Correct, but if the fault is obviously going to be picked up on an inspection then the buyer wont be buying it.
Better to offer the buyer a different property that they *might* buy, or focus your time on buyers looking at other properties.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
apparently not! he probably had a builder mate in the wings ready to snap it up
Could you think of a phrase other than "snap it up"....?
You've used it in at least 3 posts this evening, and I really don't think anyone is snapping up any places at the moment!...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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