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My vendor lied pre contract exchange & I've spent money what can I do?

I agreed to buy a property based on it having 97 years on the lease and 2 parking spaces. The 97 years I was told by the agent on at least 2 occasions, the 2 parking spaces was on the downloadable internet details from mid July through to mid August (during which time there was a price reduction so plenty of time for the vendor to sign these off I would have thought). It turns out that the lease is 90 years and there is only 1 parking space. The agent claimed he acted in good faith as that is what the vendor told him. I have reduced my offer by 5K to reflect the change to the properties value but the vendor won't budge; I am not prepared to proceed at the original sale agreed price. I've spent £638 on searches, legal costs and valuation - does anyone know if there is any way to get my costs back please?

Asked on Aug 31 2014, House Prices in Hampshire | Report content

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  • I'm afraid there isn't any way to get your costs back, (but see below). The agent says s/he acted in good faith. You should have waited for the results of the replies to your solicitor's enquiries before spending money on the searches and valuation. NB I have assumed that you hadn't had the answers to the enquiries back from the vendor... if you had, and the vendor mislead you by giving untruthful answers to these enquiries then your solicitor should have advised you about possible steps to take. If you really do not wish to proceed with the purchase of the property, you may be able to recoup some money by selling the searches - they are valid for 3 months - to the vendor for him/her to offer to a future potential purchaser (to buy or as an incentive). You should be guided by your solicitor in all this.... Elizabeth

    Answered on Sep 1 2014, Report content
  • You could potentially pursue him on the basis that you relied on his negligent, or possibly fraudulent misrepresentation. You would have to prove that you relied on this information to your detriment and you suffered loss as a consequence. The loss is too small to justify the hassle and expense you would have to go through to make this argument, with no guarantees of success. Try to make that money back from your next deal. We have the UK's largest database of repossessed properties and properties requiring refurbishment. All the best!

    Web reference: http://www.repolist.co.uk

    Answered on Sep 6 2014, Report content

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