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Hi folks

Can anyone advise.

We have our house up for sale and we have just been told that the estate agent has accepted an offer on our property without informing us of it,until now. Is this legal? The offer is lower than the asking price ! He told us that it's a distressed sale so is lower!!! He also told us that the banks can force us to accept the offer?

 

Below are my wife's comments!

 

I rang and spoke with the agent – a piece of *****. I am delusional!!! I don’t realise the severity of the situation??? We are going to be repossessed, this is a distressed sale. The court case will only be adjourned for a few weeks, not suspended for 3 months or anywhere near that!!! (according to him).

 

Any advice would be welcome? We have a court date of in Dec as our main mortgage is going for repossession.

 

Doc

Edited by caro
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Hi folks

Can anyone advise.

We have our house up for sale and we have just been told that the estate agent has accepted an offer on our property without informing us of it,until now. Is this legal? The offer is lower than the asking price ! He told us that it's a distressed sale so is lower!!! He also told us that the banks can force us to accept the offer?

 

Below are my wife's comments!

 

I rang and spoke with the agent – a piece of *****. I am delusional!!! I don’t realise the severity of the situation??? We are going to be repossessed, this is a distressed sale. The court case will only be adjourned for a few weeks, not suspended for 3 months or anywhere near that!!! (according to him).

 

Any advice would be welcome? We have a court date in Dec as our main mortgage is going for repossession.

 

Doc

 

I can't see how that's legal!!! who is your 1st mortgage with? and have they got a suspended order?

 

It's not been to court yet, he can't tell you what the judge is going to do. I smell a [problem] with the estate agents and the mortgage company.

 

Hang in there doc.....it's not over, we will help all we can. I cannot see how they can do that, it has to go to court

1st.

 

LL

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Was the agent appointed by you and your wife doc or is it not that straightforward?

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Was the agent appointed by you and your wife doc or is it not that straightforward?

 

It's not so straightforward! Foisted perhaps in our niavety!!

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It's not so straightforward! Foisted perhaps in our niavety!!

 

I think we're going to need the story to get help.

 

Firstly am I right in thinking you're in NI?

 

Second, who appointed the agent?

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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I think we're going to need the story to get help.

 

Firstly am I right in thinking you're in NI?

 

Second, who appointed the agent?

 

We appointed the estate agents on the advice of our financial advisors who were the instigators with our remortgage initially with Accord (we had a mortgage with Halifax). And subsequent advice to a now "bust" broker who got us a further variable secured loan

with Swift

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Are your financial advisers independent?

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Is the adviser someone that you found and chose yourself?

 

Are they linked to your lender or the agent?

 

If you aren't paying them how are they making their money?

 

Is the offer enough to pay off accord and swift?

 

Is there any equity in your home?

 

How long is left on your mortgage?

 

Sorry for all the questions but I'm trying to work out how they can accept an offer without your agreement as I've never heard of this before.

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Is the adviser someone that you found and chose yourself?

 

Are they linked to your lender or the agent?

They had years ago helped with a remortgage from our Halifax mortgage to Accord, they have parted company with the organization they were with when we remortgaged and have set up on their own.

 

If you aren't paying them how are they making their money?

I don't know either!?

 

Is the offer enough to pay off accord and swift?

No

 

Is there any equity in your home?

No, we are in negative equity

 

How long is left on your mortgage?

Around 18 years

 

Sorry for all the questions but I'm trying to work out how they can accept an offer without your agreement as I've never heard of this before.

 

Above are my comments

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Hi Doc2527,

 

Caro is right, we need the whole story if anyone is going to be able to help you.

 

So, deep breath, please answer the following: -

 

1/ Have you been to court?

2/ If yes to the above did the mortgage company get a Suspended Repossession Order?

3/ How much is the mortgage for?

4/ How much are the mortgage arrears?

5/ How much is the normal monthly payment?

6/ How long is left to run on the mortgage?

7/ How much equity is in the house (at the current asking price)?

8/ How much is the loan?

9/ How much are the loan arrears?

10/ How long is left to run on the loan?

11/ How much is the loan monthly payment?

12/ Why have the mortage and loan gone into arrears?

 

If you could provide the above information people would be able to get a handle on where you are at and help you.

 

I'm sure you know that the people on here are experts at helping in times of crisis, but they need the information.

 

Regards

 

HTA

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My initial thought DOc is - How on earth can an agent accept an offer on your behalf? You do not have to accept an offer and you can turn it down, go to another agent and tell the first to go take a hike.

 

I had a number of offers on my place when I sold and turned many down, I also changed agents too. Until an offer comes to you in writing and you accept in writing then there's no reason why you cannot pull out.

 

I must add this is in London so that might not happen in N.Ireland like that. Like Scotland, an offer is accepted I think verbally.

 

 

 

A1

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Hey we are with Accord mortgages, this is a bit confusing to be honest.. .We had a broker that took us to them, can I assume you are paying Accord Mortgages direct ?

 

For the record we have been to court on 4 times in total, won all times, arrears was at the worst 4K...

 

Perhaps you can talk to Doc about how you did that....?

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I did it basically with help from this forum, but I am confused where the sale of the house is coming into play, if we know the arrears and basics, ie is it first time in court or on a suspended order..

 

Hope Doc comes back to update us...

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Can you link us to your thread(s) please timetostandup.

 

I agree we need more info, although I really don't understand how an agent can take it upon himself to accept an offer.

 

Is the agent a member of any professional organisation like RICS or NAEA doc? It's likely go be in any literature or correspondence from them if so.

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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It is not up to an estate agent to accept an offer. I'm concerned that Doc appears to have been pushed into using this particular agent.

 

Sadly it is not unknown in cases like this for agents to tip off a buyer that a house may be repossessed, and some will tip off their friends who buy it and re-sell within weeks at a higher, far more realistic, price.

 

If Doc answers the questions then maybe Ell-enn or Lea can deal with delaying the repossession and giving Doc more time to find a buyer through another agent.

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Can you link us to your thread(s) please timetostandup.

 

I agree we need more info, although I really don't understand how an agent can take it upon himself to accept an offer.

 

Is the agent a member of any professional organisation like RICS or NAEA doc? It's likely go be in any literature or correspondence from them if so.

 

 

Certainly can

 

Original Hearing

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Certainly can

 

Original Hearing

Our Day in Court Guide - Very detailed for the first time person going to court of what to expect

Back in Court #1

Back in Court #2

 

Thanks :)

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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What country is this? We do not have 'distressed sales' in England and Wales, you didn't say your property was subject to a possession order.

 

You'll need to provide more detail.

 

What payments are you currently making? If any...is a good place to start.

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Hi Folks

 

Sorry for not getting back sooner as I've been busy trying to work at getting solutions and answers.

Many thanks for all of your help and advice.

We have now secured ourselves some legal representation and have resolved the acceptance of an offer issue.(for now!!)

 

Doc

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