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Is this ethical? House buyer issue...

(14 Posts)
emmabrown123 Wed 22-Jun-16 13:40:06

I posted a couple of weeks ago about our cash buyer who is messing us about a bit. He wanted another survey doing and would only use one particular surveyor who had a long wait to complete the survey.

Long story short we had to wait for his chosen surveyor who has now completed the survey.

Anyway today my husband decided to look on our buyers LinkedIn page. Turns out he is the Branch Manager for the surveyor he insisted we use! Seems like a massive conflict of interests to me!! Is this ethical???

Cel982 Wed 22-Jun-16 13:43:36

I don't understand. Surely as the buyer he paid for the survey, not you? So it doesn't really matter who he gives his business to? Lots of people will use someone they know for a particular job, that's not in itself a conflict of interest.

Cinnamon2013 Wed 22-Jun-16 13:46:31

The survey is for his information. It's up to him who he uses. There's no conflict of interest that I can see. If you feel he's stalling and buying time for another reason, like waiting to see what comes of the referendum, then that is different and you may want to remarket to find someone more motivated.

FlouncyMcFlounceFace Wed 22-Jun-16 13:49:15

It's the surveyor he used and paid, surely not one he insisted you use on your house purchase?

It's not unusual to want to use a surveyor you trust and I can't see a conflict of interest.

If the surveyor comes back with a very low valuation disproportionate with other similar properties in the area and he tries to use this as a haggle factor you could then look at calling the surveyors professional conduct into question.

That's a very long shot, so I'd try to keep busy with the other hundred jobs that you'll wish you'd got done in this time when moving does happen for you.

It is a stressful time. It will eventually pass.

emmabrown123 Wed 22-Jun-16 13:57:12

Thank you - I suppose he is entitled to use anyone he wants, I was just worried he might influence them to give a lower valuation and get some money off! Maybe I'm just overly suspicious, I'm 8 months pregnant and have WAY too much thinking time on my hands!!!

OliveOrTwist Wed 22-Jun-16 13:58:13

I used to work for a surveying firm. There would only be a conflict of interest if it was a mortgage valuation requested by the bank. In the case of a cash buyer and a private survey, no conflict of interest at all, he can use whoever he pleases.

Buckinbronco Wed 22-Jun-16 13:59:50

It doesn't really matter what his surveyor says though in terms of value because you can just refuse his decreased offer. You're under no obligation to renegotiate based on the valuation.

If i were you I'd call his bluff- call the estate agent and say it's going back on the market Monday.

OliveOrTwist Wed 22-Jun-16 14:02:36

Sorry, I forgot to mention. The surveyor should note in the report that they and the client have xx relationship so should be clear to anyone who reads the report. Also, if they do lower the value (I really hope any decent surveyor wouldn't risk their reputation doing this) ask for the comparables they used to back it up.

Sounds like you have a lot going on at the moment. Hope it all goes smoothly for you with the house sale. flowers

emmabrown123 Wed 22-Jun-16 14:12:22

Just had the full report emailed to me.

In the bit that says 'Related Party Disclosure' it says

"Xxxxxx Surveying Services are unaware of any matter that would require disclosure in respect to the Related Part Disclosure or Conflicts of Interest"

The survey threw up a few things - loose roof tiles and a disconnected pipe in the attic. The house is only 5 years old so wasn't expecting anything major! The buyer wants to get the work done himself and deduct the cost off the price.

I am going to refuse this - we have a reliable builder who we trust to give us a fair quote. Is it fair enough to get this done myself as long as I provide receipts and guarantees?

Buckinbronco Wed 22-Jun-16 14:21:40

Why are you getting it done at all? In my experience it's standard to refuse to do that unless you are struggling to sell and/or know that you'll have to do it whatever the buyer because it's bound to come up again.

You don't have to do whatever he wants OP

emmabrown123 Wed 22-Jun-16 14:27:53

Honestly I just want to move - we've been waiting months and our baby is due beginning of August!!

The worst thing is I think we'd be able to get it back in the market and sell it again (it only took a week to sell), but don't want to jeopardise the purchase of our new house!

I feel a bit at his mercy - he knows I'm heavily pregnant and therefore desperate to move.

PickleBot Wed 22-Jun-16 14:32:30

If the house is only 5 years old wouldn't this be covered by the new home warranty? Point you solicitor to tye linked in page and let them deal with it. You don't have to do the work and you don't have to accept a lower offer on the house to reflect the work. Maybe ask your EA how tye price if the house has changed since you've been waiting, because if it's gone up you can always ask for a renegotiation of price based on the buyers delay and changes to the market in the interim.

whatsthatcomingoverthehill Wed 22-Jun-16 14:53:37

It's sold as seen. All houses will have bits that could need doing if you look hard enough. If you bend over backwards for everything they might see you as a soft touch, particularly if it's more important for you to move than him to buy.

whois Wed 22-Jun-16 15:45:55

Sounds like a super minor thing to quibble over price on. Loose roof tiles? Yeah, as do about 90% of houses have some loose roof tiles!

Like PP sasy - 5 year old house should be covered by your NHBC guarentee.

Refuse his lower price offer.

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