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Advice Required - Agent withholding money


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Good Afternoon,

 

I am hoping to receive some advice regarding the below topic.

 

I was looking to purchase a property off-plan with a incentive attached and in order to secure this you pay a 'finder's fee'.  

 

The fee was paid but then the property was un-mortgageable due to various reasons including the incentive being offered.

 

Having gone back to the agent to ask for a return of the finder's fee - they have refused saying that the incentive does not need to be disclosed and that essentially my broker is useless and I should use theirs!

 

Their broker also advised it would be hard to get a mortgage with the incentive disclosed which backs up what my broker has said. 

 

This fee will now be kept on account.  

 

I signed a form which confirms that the finders fee is non refundable - which was my error I should have checked if the property was mortgageable beforehand - however I wondered if there was anything I could do because:

 

  1. The property is un-mortgageable - my broker tried all lenders including those who are happy with the incentive which was offered
  2. They have advised to withhold information which is clearly questioned in the mortgage application process

 

This is not a case of pulling out, this is a case that I cannot get finance and so cannot proceed.

 

Thanks in advance.

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you have been stiched up  but you really should have walked away from this well beofre reading the paperwork, let alone signing it.

 

However, the incentive is part of the contract, same as being given a free gift as part of a sale doesnt mean the retailer caqn give you somehting that is broken and not make good just because it was "free".

so, back to the incentive and the terms you signed. Chances are the terms make the contract voidanyway but we wont knwo that until we see it. give us a good idea of what this is all about and you may well find a couple of people will give you the advice you need.

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