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Estate Agents

(30 Posts)
CatsCatsCats Fri 26-Aug-22 15:12:53

Are estate agents obliged to tell potential buyers whether there is a problem with the property they are interested in?

I ask because there is a bungalow for sale near to us that has been up for sale for the past 15 months. It has been 'under offer' four times, and each time the sale has fallen through. It has been up for sale with two estate agents.

We are potentially interested but would you go near a place where the sale had collapsed four times? It sounds dodgy to me. However, a friend has told me estate agents have to tell a potential owner about problems. I don't think that's true, though. Does anybody know for sure?

Caleo Mon 29-Aug-22 11:23:45

Whiff, please note I did not mention you personally. I said (if I remember right) "Bungalows tend to be bought by old people".

Whiff Mon 29-Aug-22 11:30:53

Caleo I know you didn't mention me nor did I take offense . It's just the idea only old people buy bungalows and that may have been the case years ago but a lot of young people buy bungalows. They tend to be more expensive to buy but have cheaper running costs. And tend to have big lofts which can be turned into another room. My 2 bed bungalow has plenty of room to do that if I wanted . Plus I know some have extended their backs and join up into the garage to make 2 extra rooms. And still have some garden.

Caleo Tue 30-Aug-22 16:18:45

Whiff , I have not asked any estate agents about this and my opinion is based on my daily study of Rightmove in my area. I'm particularly interested in small bungalows. I have noticed bungalows that still have the owners' furniture in the pictures are old lady type furnishing and decoration. I expect you are exceptional, and if I ever did move to a bungalow I'd like to meet a neighbour like you.

Witzend Tue 30-Aug-22 16:33:59

If they’re obliged to be truthful, Daisymae, it’s certainly news to me! I have personally encountered (proven) decidedly dodgy dealing, and have heard of plenty more - a developer friend of a friend (not ours!) openly boasted to me of his ‘arrangements’ (i.e. brown envelopes) with his local EAs - they’d fail to pass on offers so he’d get the properties cheaply to do up and sell on - with a cut to the EAs.

I’m not tarring them all with the same brush, far from it, but nowadays, unless I already knew them to be trustworthy, I would always take anything they tell me with a couple of barrels of salt.