“I had tried an online agent (Hatched ¢â‚¬â€œ see separate review) ......”
1 Star Review
Dec 29,2013
By:
'Robert'
Dec 29,2013
Branch: Shipley, 33 Otley Road
Services: Sales (as a Vendor)
Would you recommend?: No
Postcode: BD9
Branch: Shipley, 33 Otley Road
Sales (as a Vendor)
Postcode: BD9
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I had tried an online agent (Hatched ¢â‚¬â€œ see separate review) before Hamilton Bower. Four months (July ¢â‚¬â€œ October 2013) had produced only 5 viewings and a string of very low offers. I probably should have gone with someone local from the outset.
I interviewed three local agents. Mark Bower claimed to be able to introduce me to a Buy To Let investor whose eleven existing properties his agency managed as a letting agent. I was told this gentleman, a Mr K, might be interested in adding a twelfth property to his portfolio. I engaged Hamilton Bower in late November on the strength of this.
Bower's partner James Hamilton arrived a few days later to measure and take photographs. He started up a completely different conversation with me from his colleague Bower which involved another marketing strategy altogether. This was disconcerting to say the least, and after he left, I was wondering if I had made a huge mistake. I got Bower on the phone. He suggested Hamilton get back in touch and explain his plan to me again. I told Bower in no uncertain terms that the two of them should decide on one hymn sheet to sing from and just get on with it. Later he phoned back and assured me it was Plan A as first presented.
It took a further two weeks to arrange a viewing. Then a few days later I was told that Mr K had made an offer. It was just OK. I wasn't expecting my asking price, but it didn't sound like he was mad keen, and I wasn't going to accept it immediately. I tried to get some feedback from the agent about the level of Mr K's interest, but Hamilton could offer none. This did seem odd, and I was wondering if the viewing had been conducted at all. I wanted to know how firm the offer was and generally more about the ability to proceed of this prospect, especially before putting in a bid for a property I was interested in and had recently viewed. The only assurance I got was the same story given all along ¢â‚¬â€œ ¢â‚¬Å“this buyer is someone we know well, we have had lots of dealings with him before, etc¢â‚¬Â. I had to press to get information about how Mr K was financing the purchase, which was with a BTL mortgage. I was told that a valuation would be arranged soon. Meanwhile, I was advised by Hamilton to go ahead with my bid on my desired property.
This was accepted subject to negotiations about certain repairs and renewals by a grateful and highly motivated vendor, who on the strength of it placed an offer on the bigger property he was seeking for his family. Both his sale and purchase properties were vacant and, since he was in rental accommodation that he would have to vacate in two months, all three parties would have a reasonable period to exchange and complete. I engaged a solicitor, filled all the forms, and paid a sum on account. The seller's agent wrote to me to officially accept my offer and terms. I had not yet received anything in writing from Hamilton Bower as my contract with them stated should happen.
Just before Christmas I pressed Bower yet again about when I could expect a valuer to be sent round. He sounded a bit rattled but promised to chase it that day and get back to me. I then left for a short break over Christmas. Suddenly on Boxing Day I got an email on my phone from Bower on Hamilton's account (Hamilton admitted to me he could not write emails and always left them to Bower). I knew it could not be good news. Here it is:
Firstly I'd like to apologise for the delay in reply to your request for further information regarding the sale of your property. James has spent time in hospital this week which has disrupted our opening hours. I am sending this email from home as I am away from the office and do not have access to phone numbers.
I have continued to chase Mr K's mortgage advisor this week and received an email from him today. Unfortunately we have been told that Mr K's remortgage of one of his other properties has been unsuccessful and, as he was to use the funds generated from this remortgage as deposit for [address], he will have to withdraw from the purchase of your property.
I appreciate that this will be very disappointing for you, Mr K has purchased several properties through us and we have never had any problems, however please be assured that we will do everything possible to find a suitable buyer for you and hope the favourable market conditions in the new year will help.
Kind Regards
Whether out of incompetence or negligence I will never know, but I believe Hamilton Bower should have much more vigorously investigated the buyer's true financial position before giving me the assurance they did ¢â‚¬â€œ always supposing that Mr K even exists. Actually, since I have no concrete evidence that he does, I suppose it's entirely possible that Hamilton Bower have simply duped me with a made-up story.
I am now at the bottom of a chain without a buyer and unless I find another one within about a week, I will lose the property I seek to buy. I don't rate my chances, unless it is by taking an even bigger hit on my asking price. The property market is a minefield for the unwary and I expect my agent to be protecting me from mines, not setting them off under my feet!
At the time of writing [29 Dec] I have not totally given up on Hamilton Bower, but I have asked for the house key back [I will monitor any viewings myself in future] and taken down their sign [I would not wish to promote their services to anyone else]. But it's likely I will have to dismiss them, because I could not believe a word they told me about any other buyer, even if they managed to find me one.
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