D
daviep
Guest
Hi,
I'm looking for advice on how I should proceed with the following matter.
I instructed a member of a local property company to source and purchase a property in the UK for around £50k in April 2004. The owner of the company was a 'friend of the family' and I had dealt with this company previously. I therefore had a high level of trust in them.
The agent got back to me a few weeks later and told me that he had indeed found a suitable investment property for £50k. He advised that the investment property was being sold with tenant and that his commission for this service would be 2.5% of the purchase price (plus legal fees). I agreed and proceeded with the purchase of the property for £50k.
It has come to my attention recently through UK Land Registry figures that the above property was in fact purchased for £40k and not the £50k that I had paid. In the financial statement from the agent he clearly states the purchase price as £50k. The property was never in the agents name and he was simply acting as an intermediary in the deal. To add insult to injury in this affair, I have had to evict the tenant and completely renovate the property. I was told by the agent that the tenant was paying rent and the property was in good condition when I purchased it.
Legally standing, what is my position with this matter? What is the best and most diplomatic way to approach this?
Thanks in advance,
Colm
I'm looking for advice on how I should proceed with the following matter.
I instructed a member of a local property company to source and purchase a property in the UK for around £50k in April 2004. The owner of the company was a 'friend of the family' and I had dealt with this company previously. I therefore had a high level of trust in them.
The agent got back to me a few weeks later and told me that he had indeed found a suitable investment property for £50k. He advised that the investment property was being sold with tenant and that his commission for this service would be 2.5% of the purchase price (plus legal fees). I agreed and proceeded with the purchase of the property for £50k.
It has come to my attention recently through UK Land Registry figures that the above property was in fact purchased for £40k and not the £50k that I had paid. In the financial statement from the agent he clearly states the purchase price as £50k. The property was never in the agents name and he was simply acting as an intermediary in the deal. To add insult to injury in this affair, I have had to evict the tenant and completely renovate the property. I was told by the agent that the tenant was paying rent and the property was in good condition when I purchased it.
Legally standing, what is my position with this matter? What is the best and most diplomatic way to approach this?
Thanks in advance,
Colm