Is it OK to ask why a property is being sold and are you entitled to an answer?
I always tend to ask and most the time to be honest I get an iffy response from agents or a response that leaves much to be desired, hardly ever I get a clean cut and upfront response that is fully believable. Once or twice I have been told by an agent that they cannot disclose.
I imagine some of the main reasons is to upscale to bigger house (growing family), downsizing (children moved out of home) or even divorce so is it technically a legal requirement that you have the right to a honest answer or are they allowed to withhold such information?
1 Comment
Hi Marko,
It is perfectly fine to ask the agent why the vendors are selling, however sometimes the agent themselves do not know because the owners do not wish to disclose or the agent simply has not asked.
It should not be a big secret why someone is selling unless there is a material fact that would influence a buyers decision on whether or not to buy the property, in this case the material fact MUST be disclosed to potential purchasers by the agent unless the agent is not aware.
I think the question is important because if there is an adverse reason for selling I as a consumer would like to know, but I believe you will find 9 times out of 10 a vendor is selling because the accommodation is no longer suitable or there is some financial reason.
In the case of the agents claiming they cannot disclose, if you were really interested in a particular property and received this type of response to your answer from the agent, I would have my solicitor or conveyancer formally ask the vendors solicitors in writing for peace of mind.
But as long as there is no “Material Fact” I think it’s important to point out that the owners do not have to disclose there reason for selling, my recommendation to all buyers if confronted with this scenario is to be very precise in your “Due diligence” when making enquiry’s as to the property’s suitability to you.
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