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First home purchase disaster

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  • 09-04-2018 9:37am
    #1
    ESMA
    Registered Users Posts: 25 ✭


    So I found a place to buy quite a few weeks ago. I'm on my own buying for the first time. Placed my bid. Accepted by the seller. Ad taken down. Deposit paid. Got a solicitor involved. Got an engineer in. My auctioneer asked me to ask the bank for a specific valuer to do the valuation. I did this. Valuation was done and paid for. Bank says that all forms ready to be signed next week. All done .......???
    I still have alerts set up on Daft - today new place is advertised in the same area I'm buying in. Curiosity leads me to check it out... It's "my apartment"... The seller went with a new auctioneer. No warning. Nothing!!!
    Higher price. Out of my price range. To top it off the new auctioneer is the valuer that the bank/I requested - conflict of interest there surely??
    Is this fair / just?
    I've spent money between valuation and engineer on a place I was never in the running for!
    Tagged:


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    #2
    heebusjeebus
    Registered Users Posts: 3,783 ✭✭✭heebusjeebus


    Has your solicitor been in contact with the vendors solicitor yet?
    If so, get them to ask what's going on.
    Also worth raising it with the original estate agent too.


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    #3
    ESMA
    Registered Users Posts: 25 ✭ESMA


    I need to speak to the solicitor yet. Hopefully they can help.


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    #4
    Captain Flaps
    Registered Users Posts: 1,834 ✭✭✭Captain Flaps


    I'm at roughly the same stage in the process (everything else done, just waiting for all the solicitors to get their various bits sorted) and you're describing my biggest worry about my own purchase. I've been warned by my solicitor and my broker that the only thing that stands in the way of this happening is the vendors morals, in your situation the original agent has also been screwed over so seconding the advice to get on to them for an update.


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    #5
    spaceHopper
    Registered Users Posts: 3,983 ✭✭✭spaceHopper


    Would it be worth talking to the valuer, basically get them to drop it. Tell them you will make a complaint to their professional body and to the bank. They are on the banks approved valuers list and could be seen to be abusing it by seeking business from vendors of properties they value.
    This is also taking business off the bank because who ever buys it now my not take out a mortgage with them. Make an appointment to see the bank manger. At the very least they could phone them to hear their side of it as you are about to lodge a complaint with them.


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    #6
    ESMA
    Registered Users Posts: 25 ✭ESMA


    spaceHopper wrote: »
    Would it be worth talking to the valuer, basically get them to drop it. Tell them you will make a complaint to their professional body and to the bank. They are on the banks approved valuers list and could be seen to be abusing it by seeking business from vendors of properties they value.
    This is also taking business off the bank because who ever buys it now my not take out a mortgage with them. Make an appointment to see the bank manger. At the very least they could phone them to hear their side of it as you are about to lodge a complaint with them.
    These are some really good points. I have just contacted the bank to bring this to their attention. Thank you - I will follow up on all of this. Do you know who the professional body for this would be? Not to worry if not I'll try search for it.


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    #7
    ESMA
    Registered Users Posts: 25 ✭ESMA


    Captain Flaps wrote: »
    I'm at roughly the same stage in the process (everything else done, just waiting for all the solicitors to get their various bits sorted) and you're describing my biggest worry about my own purchase. I've been warned by my solicitor and my broker that the only thing that stands in the way of this happening is the vendors morals, in your situation the original agent has also been screwed over so seconding the advice to get on to them for an update.
    I sincerely hope this does not happen to you - it's very gutting.


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    #8
    GingerLily
    Registered Users Posts: 4,767 ✭✭✭GingerLily


    Can the new buyers get a new valuer?

    I'm just worried your wasting your energy, the house isn't your until you sign contracts. I don't think the sellers are likely to change their decision not to sell to you.

    I'm not saying what happened is fair.


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    #9
    ESMA
    Registered Users Posts: 25 ✭ESMA


    GingerLily wrote: »
    Can the new buyers get a new valuer?

    I'm just worried your wasting your energy, the house isn't your until you sign contracts. I don't think the sellers are likely to change their decision not to sell to you.

    I'm not saying what happened is fair.
    There is so much corruption with the valuer in this instance - I don't feel I am wasting my time if I point out the flaws and corruption in the system - I might not get the apartment I wanted in the end but I don't feel people should be allowed to screw you over without it being significantly highlighted. Otherwise the system continues to screw people over.


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    #10
    hmmm
    Registered Users Posts: 11,205 ✭✭✭✭hmmm


    Sorry to hear about this. If it was me, I'd have contacted the bank to complain like you did, and then moved on. I wouldn't want to have any further dealings with either the vendor or valuer. I presume also the previous estate agent is hopping mad, and I'd probably contact them to let them know the new EA is the valuer.


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    #11
    hdowney
    Registered Users Posts: 12,921 ✭✭✭✭hdowney


    Have they still got your deposit also? They sound so shady I wouldn't be surprised if you have a fight on your hands to get that back. Good luck with it, and I am sorry to hear you are going through this.


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    #12
    justagirl
    Registered Users Posts: 565 ✭✭✭justagirl


    ESMA wrote: »
    My auctioneer asked me to ask the bank for a specific valuer to do the valuation. I did this. Valuation was done and paid for.

    The bank usually has their own list of people that do valuations on their behalf? It is absolutely not up to the EA to tell you who to approach to do a valuation for your bank - that is very odd - it is not in the banks interest to do this.

    Is your EA registered with the PSRA? Also, is the new EA registered? you can check here to see if they have the appropriate license:

    http://www.psr.ie/website/npsra/npsraweb.nsf/page/publicregister-reg-of-propserv-prov-en"


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    #13
    ESMA
    Registered Users Posts: 25 ✭ESMA


    hdowney wrote: »
    Have they still got your deposit also? They sound so shady I wouldn't be surprised if you have a fight on your hands to get that back. Good luck with it, and I am sorry to hear you are going through this.
    Still to get deposit back. I will start naming all parties involved if I don't get deposit and all expenses back. It's just too shady to let it go.


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    #14
    ESMA
    Registered Users Posts: 25 ✭ESMA


    justagirl wrote: »
    The bank usually has their own list of people that do valuations on their behalf? It is absolutely not up to the EA to tell you who to approach to do a valuation for your bank - that is very odd - it is not in the banks interest to do this.

    Is your EA registered with the PSRA? Also, is the new EA registered? you can check here to see if they have the appropriate license:

    http://www.psr.ie/website/npsra/npsraweb.nsf/page/publicregister-reg-of-propserv-prov-en"
    Unfortunately, being a little new to this, I accepted the auctioneers advise to appoint a valuer (if they were on the banks list of valuers) He said this would make the process quicker as the valuer lives nearby and could get it done quicker. Unfortunately, on hindsight, this was a terrible recommendation but it made sense to me at the time.


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    #15
    justagirl
    Registered Users Posts: 565 ✭✭✭justagirl


    ESMA wrote: »
    Unfortunately, being a little new to this, I accepted the auctioneers advise to appoint a valuer (if they were on the banks list of valuers) He said this would make the process quicker as the valuer lives nearby and could get it done quicker. Unfortunately, on hindsight, this was a terrible recommendation but it made sense to me at the time.

    It is not your fault ... I'm surprised the bank that was lending you the money used a valuer you suggested - but if he is on their list of preferred valuers - that might be the reason.

    Firstly, please check the link to the register to see if these EA are licensed (and any future EA you bid on a property with) ......


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    #16
    matrim
    Registered Users Posts: 7,518 ✭✭✭matrim


    ESMA wrote: »
    Unfortunately, being a little new to this, I accepted the auctioneers advise to appoint a valuer (if they were on the banks list of valuers) He said this would make the process quicker as the valuer lives nearby and could get it done quicker. Unfortunately, on hindsight, this was a terrible recommendation but it made sense to me at the time.

    Have you talked to the auctioneer you were dealing with originally? He must be livid too because he's now lost a sale to someone who he was giving business to


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    #17
    spaceHopper
    Registered Users Posts: 3,983 ✭✭✭spaceHopper


    Have you been told that the sale is off or is it just the add you saw this morning?


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    #18
    ESMA
    Registered Users Posts: 25 ✭ESMA


    justagirl wrote: »
    It is not your fault ... I'm surprised the bank that was lending you the money used a valuer you suggested - but if he is on their list of preferred valuers - that might be the reason.

    Firstly, please check the link to the register to see if these EA are licensed (and any future EA you bid on a property with) ......
    Hi, yes I've checked the register thanks - and they are on it.


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    #19
    ESMA
    Registered Users Posts: 25 ✭ESMA


    Sale is off - I was never really told - I just had to assume with the new ad up. My auctioneer said he is refunding my deposit. I spoke to the new auctioneer and he is not willing to accept he is at fault here even though he did the valuation and advised me what engineer to use.


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    #20
    HeidiHeidi
    Registered Users Posts: 29,081 ✭✭✭✭HeidiHeidi


    Sorry for the predicament you find yourself in - sounds scandalous and disgraceful, even if not illegal.

    Can I ask what you mean by "your estate agent"? Surely as a purchaser (I didn't get the impression you were selling as well) you'd only have been dealing with the vendor's EA?

    I'm just curious, sorry if a bit O/T.


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    #21
    Banterbus28
    Closed Accounts Posts: 2,620 ✭✭✭Banterbus28


    You could make a civil claim for damages...


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    #22
    ESMA
    Registered Users Posts: 25 ✭ESMA


    HeidiHeidi wrote: »
    Sorry for the predicament you find yourself in - sounds scandalous and disgraceful, even if not illegal.

    Can I ask what you mean by "your estate agent"? Surely as a purchaser (I didn't get the impression you were selling as well) you'd only have been dealing with the vendor's EA?

    I'm just curious, sorry if a bit O/T.
    Hi, not sure where 'estate agent' came into context. I didn't mention estate agent - it must have been meant to be auctioneer instead - it appeared from a comment on the thread - sorry for confusion.


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    #23
    ESMA
    Registered Users Posts: 25 ✭ESMA


    Banterbus28 wrote: »
    You could make a civil claim for damages...
    Who would I do this through? A solicitor? Would it cost me more than what I would get back?


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    #24
    justagirl
    Registered Users Posts: 565 ✭✭✭justagirl


    ESMA wrote: »
    Sale is off - I was never really told - I just had to assume with the new ad up. My auctioneer said he is refunding my deposit. I spoke to the new auctioneer and he is not willing to accept he is at fault here even though he did the valuation and advised me what engineer to use.

    I am sorry to hear this. How much did the valuer/new auctioneer :mad: value the apartment for and was it for more than your accepted offer?

    Had the vendor actually 'accepted' your offer? And had your solicitor received contracts?


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    #25
    HeidiHeidi
    Registered Users Posts: 29,081 ✭✭✭✭HeidiHeidi


    ESMA wrote: »
    Hi, not sure where 'estate agent' came into context. I didn't mention estate agent - it must have been meant to be auctioneer instead - it appeared from a comment on the thread - sorry for confusion.
    I'd consider them to be the same thing! Again wondering why you'd have an auctioneer if not selling?

    (and again apologies for being O/T - I'm sure you have enough to be worrying about!)


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    #26
    Banterbus28
    Closed Accounts Posts: 2,620 ✭✭✭Banterbus28


    ESMA wrote: »
    Banterbus28 wrote: »
    You could make a civil claim for damages...
    Who would I do this through? A solicitor? Would it cost me more than what I would get back?

    You can claim for the costs you incurred i.e. the valuer, engineer, loss of earnings for appointments in relation to house etc.

    Talk to a solicitor.


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    #27
    ESMA
    Registered Users Posts: 25 ✭ESMA


    HeidiHeidi wrote: »
    I'd consider them to be the same thing! Again wondering why you'd have an auctioneer if not selling?

    (and again apologies for being O/T - I'm sure you have enough to be worrying about!)
    The auctioneer is the guy I was buying off


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    #28
    ESMA
    Registered Users Posts: 25 ✭ESMA


    Banterbus28 wrote: »
    You can claim for the costs you incurred i.e. the valuer, engineer, loss of earnings for appointments in relation to house etc.

    Talk to a solicitor.
    Yes I must do this - thanks


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    #29
    Banterbus28
    Closed Accounts Posts: 2,620 ✭✭✭Banterbus28


    ESMA wrote: »
    Banterbus28 wrote: »
    You can claim for the costs you incurred i.e. the valuer, engineer, loss of earnings for appointments in relation to house etc.

    Talk to a solicitor.
    Yes I must do this - thanks

    Team up with the estate agent that got screwed as well. They will have lost commission etc


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    #30
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    ESMA wrote: »
    I will start naming all parties involved if I don't get deposit and all expenses back.

    Mod Note:

    For the benefit of anyone that doesn't already know:

    This is not the venue for 'naming and shaming'.


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    #31
    Banterbus28
    Closed Accounts Posts: 2,620 ✭✭✭Banterbus28


    The basis is that you were working on the assumption that the house was yours and they have behaved in bad faith by not telling you otherwise.

    They have messed you about time to wipe the floor with them.


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