Estate Agents Scam No. 3!
Under "The Cancellation of Contracts made in a Consumer's Home or Place of Work etc. Regulations 2008" an estate agent now has to give a 7 day "cooling off period" to anyone signing a contract instructing them to place their property on the market.
This means that if, for any reason you change your mind about coming onto the market with that estate agent in the week following your signing of the contract, you are not committed to stick with them. Cancellation within that time must be put in writing, and best by recorded delivery.
Some estate agents have taken it upon themselves to decide that they are above the law and that for some reason this act does not apply to them. As a result, they have not changed their contract or terms and conditions to accommodate this new Act.
These estate agents are acting both unlawfully and illegally. If they are
acting illegally when trying to get your business at the outset, before the
property even goes on the market, the mind boggles as to what other stunts they might pull from then on!
By signing a contract without this clause you are basically agreeing for you and your property be excluded from any protection that this Act may otherwise have given you.
Here at Jonathan Waters Estate Agents we have personally met with senior Trading Standards Officers to confirm that this act does indeed apply to estate agents. Dealing therefore with Jonathan Waters Estate Agents gives you the reassurance that we act with professionally, with integrity and legally. From the start you will be in the hands of highly experienced professionals acting professionally.
And here's a twist!
Wording of the "The Cancellation of Contracts made in a Consumer's Home or Place of Work etc. Regulations 2008" only applies when the contract giving instructions to market the property is signed in the comfort of the owners own home. This gives an immediate "get out" clause to estate agents and we heard stories from sellers being duped into visiting the estate agents' office to sign the contractual paperwork, in which case the act doesn't apply.
If you have already fallen victim to this tactic, or if you have been asked to come into an estate agents' office to sign a contract then can I recommend that you contact: Trading Standards, Endeavour House, Russell Road, Ipswich, Suffolk, IP1 2BX and The Property Ombudsman, Beckett House,
4 Bridge Street, Salisbury, Wiltshire SP1 2LX, Tel: 01722 333306, Fax: 01722 332296, Email: admin@tpos.co.uk
At Jonathan Waters Estate Agents we are always happy to visit you in your own home to sign any necessary paperwork and could call round at any time convenient to yourself.
This is an extract from Jonathan Waters’ forthcoming publication “Nine scams often used by estate agents to get your property on the market and how to avoid becoming a victim yourself.”
Jonathan Waters has over 20 years experience in estate agency and has also drawn from the combined total of 175 years spent in the house moving process that he and his current team have.
Jonathan has previously worked on the "North East Essex and Suffolk Consumers and House Moving Professionals Panel", which featured on
television and is a former Chairman of the "Guild of Independent Estate Agents".
We have a small number of complimentary copies of this forthcoming
publication to give away free. If you would like to reserve your copy contact us now and we will send it to you as soon as it is printed.
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