Editor's Blog9 mins ago
Buying property
5 Answers
does anybody have any advise what legal action can be taken in the following instance:
I have been in the process of purchasing a commercial property advertised at "a reduced price"
This has incurred me costs of a mortgage broker, surveyor and solicitor
After the survey was done it has come to light that the property was overvalued by �75k
I have since found out that the Estate is actually the vendor - This has been a complete shock as the estate agent has always referred to "the vendor" and not himself
The estate agent does not belong to any governing bodies (OEA etc...)
Do I have grounds to claim costs and compensation?
I have been in the process of purchasing a commercial property advertised at "a reduced price"
This has incurred me costs of a mortgage broker, surveyor and solicitor
After the survey was done it has come to light that the property was overvalued by �75k
I have since found out that the Estate is actually the vendor - This has been a complete shock as the estate agent has always referred to "the vendor" and not himself
The estate agent does not belong to any governing bodies (OEA etc...)
Do I have grounds to claim costs and compensation?
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.If he gave you to understand he was just the agent and someone else was the vendor then he might be guilty of misrepresentation. However, would the situation have been any different had you known the true position? you need to consider this because there is no point pursuing a claim (even if you find you do have grounds in principle) unless you can show that your actions would have been different had you been aware of the truth.