Sub-agents and statute
Article Abstract:
The position of a sub-agency in regard to UK law is unclear. The law seems to indicate they are not part of the estate agency business and therefore are not covered by the 1991 Property Misdescriptions Act. Sub-agency is not considered under law as estate agency work and therefore is also not covered by the Estate Agents Act 1979. There is some difficulty in deciding if a sub-agency clients are the owners trying to sell the property or the main estate agency.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1999
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When the cap fits
Article Abstract:
Negligently valued properties are the responsibility of lenders, according to a House of Lords ruling. Lenders must ensure borrowers disclose the original purchase price of a property, while also only lending up to 70% of the property value. The ruling states lenders will only be negligiable up to the first 500,000 pounds sterling of a loss, after which the borrower must be held liable for their own loss.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1999
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The price of knowledge
Article Abstract:
The legal issues surrounding non-retained property agents in the UK have been highlighted by the case of Lady Manor v Fat Cat Cafe Bars. The judgment in this case shows that an unretained agent who sends an unsolicited letter cannot claim any sort of fee for the information presented by the letter.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 2001
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