Should estate agents disclose finance arrangements that may delay a sale?

[PunnyGoose]

My estate agent failed to tell me that the buyer of my property was using Islamic finance / alternative financing. This only came to light months into the sale when I started questioning the ongoing delays and asking for explanations.
Since then I’ve found out that this type of finance can involve additional legal work, extra solicitors and a longer conveyancing process. Had I known this at the point of accepting the offer, I would have negotiated differently and factored the likely extended timeline into my decision.
What frustrates me most is that, up until I was finally told about the finance structure, I was constantly chasing the agent for updates on completion dates and delays. At no point did they explain the real cause of the hold-up.
The agent now claims they were not aware of the financing arrangement when the offer was made.
I feel I was not given the full picture before accepting the offer and, as a seller, I think this information could reasonably have influenced my decision.
Has anyone else experienced something similar?
Should an estate agent disclose the buyer’s finance structure if it is likely to complicate or delay the transaction?

They should yes, most wont.

I would have thought that they need to follow a code of conduct, if the sale falls through then Im going to be out of pocket big time.

is there any recourse ?

We were told that out buyers were cash buyers, exchanging and completing on their sale within two weeks. Twelve weeks later we discovered they didn’t have cash from a sale, hadn’t sold and needed a mortgage which they couldn’t get. The agent had known long before we did and it wasn’t until it became clear they had wasted our time, that they had to tell us. We could have avoided weeks of uncertainty if they’d been transparent.

We sacked them, pulled out of the sale, relisted with another agent and got a buyer wwin a couple of days.

There should be more transparency and information through the process.

What a nightmare, did you have to pay a fee to exit to the first agent?

Did you make a complaint ?

No exit fee, because we were out of contract. We got compensation from the conveyancer. We were foolish enough to go with the online one recommended by the agent. He was complicit in all of it too, delaying things by asking for information already supplied time and again.

We were told our buyers were cash buyers. We weren't told that the cash was coming from the sale of one of their parents homes so we were effectively in a chain. Like you that may have Influenced our decision. I think it's shady of the estate agent because they are meant to get proof of funds so they would have been aware, but I don't think there's much you can do about it now unfortunately