OFT in­ves­ti­gates ‘quick sale’ firms

Yorkshire Post - Property - - PROPERTY -

THE Of­fice of Fair Trad­ing is in­ves­ti­gat­ing three “quick sale” firms that of­fer to sell properties for home own­ers.

It re­vealed that there were cases where des­per­ate own­ers were paid half the prop­erty’s value. The com­pa­nies have been ac­cused of low­er­ing their orig­i­nal, higher of­fers at the last minute.

Prop­erty Om­buds­man Christopher Hamer says: “This re­port re­veals that there is yet an­other area of the prop­erty sec­tor where there is no for­mal reg­u­la­tory frame­work.

“As with the res­i­den­tial let­tings sec­tor there are a num­ber of ‘quick house sale’ firms that do not ap­pear to fol­low es­tab­lished stan­dards or ac­cept­able trad­ing prac­tices. The re­sult is an un­safe en­vi­ron­ment for con­sumers.”

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