CH1 Posted October 12, 2007 Report Share Posted October 12, 2007 I'm not sure if I can ask your thoughts on this particular issue as it's not directly relating to rental property but regarding buying BTL property through a company obviously with view to rent. I've been stuck in a deal that's gone wrong with one of those property sourcing companies -does anyone know where or how I can get help in this matter? And from whom? The company in question simply avoid giving answers and have been using delay tactics for several weeks, this has been going on for months. I want to either proceed or get my full money back (and loss of interest!), at the moment I'm just stuck. As none of these property sourcing companies or BTL market in general is regulated where does one stand? Any advice or views appreciated, thanks. Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted October 12, 2007 Report Share Posted October 12, 2007 Need more detail please ................?? But if you want to source prop it just happens to be every where !!!!!!!!!!!!!!!! Simon Link to comment Share on other sites More sharing options...
CH1 Posted October 13, 2007 Author Report Share Posted October 13, 2007 Need more detail please ................?? But if you want to source prop it just happens to be every where !!!!!!!!!!!!!!!! Simon Basics of the deal: I reserve a property, paid 'property sourcing companyX' PSC a reservation fee, plus finders fees and other costs such as valuation etc as they have a 'package' like a package holiday -you have to use all their assigned solicitors, brokers etc. The current situation is the deal fell through i.e. did not complete -not through any fault of mine but the way they set up the sale with their appointed legals -so they then changed to another legal firm and due to the previous problems changed lenders etc who don't sell to 3rd parties so it appears this deal will not go through. Yet the PSC avoids contact with me or telling me the real state of affairs i.e. the truth -I have to find out through other sources in the chain. I either want all my money back or for the sale to proceed, at the moment and for several months I've been stuck and my cash is tied up. If you want more details send me a pm. That's about all I can say on a public forum as this is still not resolved. Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted October 13, 2007 Report Share Posted October 13, 2007 Basics of the deal: I reserve a property, paid 'property sourcing companyX' PSC a reservation fee, plus finders fees and other costs such as valuation etc as they have a 'package' like a package holiday -you have to use all their assigned solicitors, brokers etc. The current situation is the deal fell through i.e. did not complete -not through any fault of mine but the way they set up the sale with their appointed legals -so they then changed to another legal firm and due to the previous problems changed lenders etc who don't sell to 3rd parties so it appears this deal will not go through. Yet the PSC avoids contact with me or telling me the real state of affairs i.e. the truth -I have to find out through other sources in the chain. I either want all my money back or for the sale to proceed, at the moment and for several months I've been stuck and my cash is tied up. If you want more details send me a pm. That's about all I can say on a public forum as this is still not resolved. I think a visit to PSC offices may be in order ..? And if not happy then a good solicitor ... Simon Link to comment Share on other sites More sharing options...
CH1 Posted October 15, 2007 Author Report Share Posted October 15, 2007 Thanks Simon. The deal is off and won't go thru' the PSC will not give all my money back-but only part of it i.e fees paid to them not what went to developer, brokers etc. Will check what legal process I can go through. Link to comment Share on other sites More sharing options...
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