"Simple" flat sale- Comedy of errors
Discussion
Thought this might amuse some...
We're selling a one bed flat we own and rent out, only 500sq ft-ish, upstairs in a large converted house- should be easy right?
Estate Agents found a buyer "He's a cash buyer mate, old boy it'll be no problems" Great.
Then they oddly allowed him to visit our flat (which has/had a lovely tenant in) to "measure up", they did not ask us or accompany him, just sent him round... he promptly told the tenant he had "bought" the flat!
We had an agreement with the tenant (outside of the rental agreement) that he could stay till the last minute to give him time to find somewhere. On hearing that the flat was "sold" he promptly found somewhere and moved out (without telling us or letting agent- Opp's, that's another story...)
Anyway, we all know buying/selling should be quick but generally takes months, so now we have to pay for and maintain the flat for several months while the buyers solicitors do their usual glacial checks.
Today our Solicitor called with some odd questions... after a small bit of detective work it transpired the old boys solicitors had done their checks on the next door block of flats!!!
In the same conversation they let slip that he isn't a cash buyer either and is trying to sell his house.
Formal complaint about Estate Agents duly logged I am now at a loss to understand why they would lie and be so incompetent? Surely they knew we would find out they where lying about the cash buyer basis and them letting the prospective buyer visit our flat unaccompanied- the mind boggles!
Anyone like to speculate on the chances of the Estate Agent paying our Mortgage or reducing their massive fee due to their gross negligence and lies?
We're selling a one bed flat we own and rent out, only 500sq ft-ish, upstairs in a large converted house- should be easy right?
Estate Agents found a buyer "He's a cash buyer mate, old boy it'll be no problems" Great.
Then they oddly allowed him to visit our flat (which has/had a lovely tenant in) to "measure up", they did not ask us or accompany him, just sent him round... he promptly told the tenant he had "bought" the flat!
We had an agreement with the tenant (outside of the rental agreement) that he could stay till the last minute to give him time to find somewhere. On hearing that the flat was "sold" he promptly found somewhere and moved out (without telling us or letting agent- Opp's, that's another story...)
Anyway, we all know buying/selling should be quick but generally takes months, so now we have to pay for and maintain the flat for several months while the buyers solicitors do their usual glacial checks.
Today our Solicitor called with some odd questions... after a small bit of detective work it transpired the old boys solicitors had done their checks on the next door block of flats!!!
In the same conversation they let slip that he isn't a cash buyer either and is trying to sell his house.
Formal complaint about Estate Agents duly logged I am now at a loss to understand why they would lie and be so incompetent? Surely they knew we would find out they where lying about the cash buyer basis and them letting the prospective buyer visit our flat unaccompanied- the mind boggles!
Anyone like to speculate on the chances of the Estate Agent paying our Mortgage or reducing their massive fee due to their gross negligence and lies?
Long time ago, but the estate agents my brother and I (we owned a house together) employed did not act in our interests, but theirs - ie forced a price reduction on us. Long boring story about this, but at the end of it - by which time they knew in writing we weren't happy with the way they acted, I sent them a check for significantly less than they invoiced us.
The letter with the cheque said paying it in would acceptance of the lower amount, but they weren't stupid and made a counter offer. As I'd deliberately pitched the offer lower that what was reasonable, their higher but still way under the quote amount was acceptable and we settled.
The letter with the cheque said paying it in would acceptance of the lower amount, but they weren't stupid and made a counter offer. As I'd deliberately pitched the offer lower that what was reasonable, their higher but still way under the quote amount was acceptable and we settled.
My last cash buyer turned out to need a 105% mortgage...
It's usually the buyer's fibbing rather than the agents though. What did your agreement with them say about unaccompanied viewings etc? Your tenant was always likely to jump ship though, as a tenant there is no point hanging out until the last moment as you need to find somewhere else to live.
TBH sales of converted flats are not usually high up on the "simple" scale - have you got to the point where the Landlord or Management Company refuse to answer your buyer's enquiries without a stonking great fee?
It's usually the buyer's fibbing rather than the agents though. What did your agreement with them say about unaccompanied viewings etc? Your tenant was always likely to jump ship though, as a tenant there is no point hanging out until the last moment as you need to find somewhere else to live.
TBH sales of converted flats are not usually high up on the "simple" scale - have you got to the point where the Landlord or Management Company refuse to answer your buyer's enquiries without a stonking great fee?
henrycrun said:
Are buyers asked to show proof of funds ?
Ahh yes - the Agents claim that they prequalify the buyers .. which is typically just lies and bulls
t!Last property sale we were told that the buyers had a mortgage in place and the deposit in their account. As the sale dragged on it turned out they hadn't even spoken to anyone regarding a mortgage (that was a month after having accepted the offer) and that the deposit they had in their account didn't exist and they were relying on some inheritance pay out … on a disputed estate!
Longest property sale ever!
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