1 Star Review
Apr 01,2019
By:
'Zeraschi'
Apr 01,2019
Branch: Newport, 108 Lower Dock Street
Services: Sales (as a Buyer)
Sold price: £130000
Would you recommend?: No
Postcode: NP20
Branch: Newport, 108 Lower Dock Street
Sales (as a Buyer)
Sold price: £130000
Postcode: NP20
5
people found
this helpful
Poor service from the start.
Paul Fosh knowingly marketed a property in a dreadful condition and failed to allow a full viewing on 6th February 2019. Ryan, his agent with the keys, could not answer any of our questions. Now we know why.
At the following day's auction, there was only one person bidding other than myself.
This property was valued by Nuttalls last August 2018 at 100,000 GBP and Paul Fosh auctions were well aware of the state of the building. We now know the property owner (Alan Darlow) had deliberately gone into receivership. The current tenant is leaving due to complete negligence on the part of the landlord. Therefore the income advertised in your auction brochure is completely false misrepresentation. The roof has been leaking for almost four years, causing extensive damage to the pub on the ground floor. The estimated cost, according to the tenant, is 60,000 GBP, making the purchase completely unviable for such a short lease. it was offered to the tenant earlier this year for 90,000 pounds but his solicitor advised against purchasing the lease.
If our deposit of 14,300 GBP is not returned in full by 4th April 2019, we will be taking further action.
Comment on agent fees
very bad!
5
people found
this helpful
Was this helpful?
Yes
We didn't want to reply to your review until the property ombudsman had dealt with your case. As this has now been dealt with and dismissed, we would now like to issue our response. As we are sure you are aware, and especially at auction, it is highly recommended that each purchaser carries out their own due diligence on the property they are interested in.
Properties that enter auction are marketed below private treaty prices for a number of cases, a quick sale, probate reasons, but usually due to their conditions. With regards to allowing a full viewing, we advertised that part of the property was leased by a bar, and that any viewings for this part of the building should be carried out during their opening hours.
We do not advertise ourselves as surveyors, so we would not carry out a survey on the property at the time of valuation. We have a team of property valuers who value each property based on what they see, so would not have seen damage to the roof as you claim, unless it was shown to them by the vendor.
We apologise for any inconvenience this has caused and please do not hesitate to contact us for further clarification.
Regards,
Paul Fosh Auctions