Estate agent disclosure

[j4ck]

My property purchase has fell through last minute as the vendor is not allowing an asbestos survey to be conducted.

His reason is that if anything is found then he will have to disclose this to any buyers if I choose not to buy.

I've explained to the estate agent that they must share the reason why the previous sale fell through but they disagree.

I've taken my information from websites of other estate agents. Can anyone shed any light on this?

[des8]

The sale and advertising of property is governed by the 2008 Consumer Protection Against Unfair Trading Regulations (CPRs).

Basically the CPRs require a seller to inform their estate agent and any potential buyer - of material information that may affect an average consumer's transactional decision, not only to buy a property but even an omission that may affect a potential buyer's decision to view a property.

So yes the vendor is correct in that if he becomes aware that the property contains asbestos he must inform any other prospective buyers

[j4ck]

For the same reasons as you have explained above does the agent and vendor have to disclose why the previous sale fell through?

ie they will not allow an asbestos test, otherwise, someone may find themselves in my situation?

I think any home buyer who hears the vendor is refusing an asbestos test will be curious as to why and this will impact their decision making on the house purchase.

I don't understand if the vendor is willing to withhold relevant information in relation to the sale falling through they may as well allow us to do the survey and withhold that info as well. But he agent refuses to accept that they have to disclose the reason for why the sale fell through.

Do I have a case to demand my losses back from the agent?
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[des8]

If it is material information that a sale fell through because of the vendors's refusal to allow an asbestos survey, then that info should not be with held.
It would be for a court to decide if that info was material.

You can ask for your costs, but I doubt you will get them.
At this stage of purchase either party can withdraw, with or without reason, without penalty.

[j4ck]

Thank you for your help