The flat has 85 years remaining on the lease but buyers were told it was 100 yearsQ I have been trying to sell my leasehold flat in Portsmouth but I’ve had two buyers pull out because the estate agent has told them incorrect information about the lease. The flat has 85 years remaining on the lease, so it’s getting towards the point where any buyer would reasonably think about a lease extension. The agent has been telling them that the lease has 100 years on it. When the buyers found out the correct information from their solicitors they both pulled out of the purchase. I assumed the first time that it was simply a miscommunication, so I made a point of checking with the agent that the second buyer had the correct information. The agent assured me that the buyer knew the facts but that wasn’t true either. Is there anything I can do about their repeated lack of truthfulness causing sales to collapse?TCA There are two things that you can do. First, you can make a formal complaint about your agent, using the estate agent’s in-house complaints’ procedure, which, under the Code of Practice for Residential Estate Agents, you must be made aware of. Second, you can – and should – change agents. From what you say, it appears that your current agent is not only not complying with the industry code of practice but he or she is also breaking the law. Continue reading…
Source : theguardian.com
Read more…Incorrect details from estate agent led to two buyers pulling out. What should I do?
