Elderly Relatives House Sale

[Beegz]

My wife's elderly Uncle and Auntie recently sold their property privately to a developer. They had agreed an offer of £300k and despite my warnings about private sales to developers and low balling, they went ahead without our knowledge and we recently found out the sale completed £60k below the agreed price of £300k.

The developer then listed the property for auction the day after completion which sold for £290k, clearly showing just how under sold this was.

My question is, if the developer has knowingly lowballed them at the end of the sale knowing they would have little choice but to accept due to purchasing another property etc, are there any legal ramifications for this and where would we start to pursue this?

Also I believe the solicitors on both sides were "recommended" by the developer, should the solicitors have carried out some due diligence on the purchase price, especially with the fact the price dropped so significantly.

I'd like to add its not easy speaking with the relatives to get more information and they seem very guarded about the matter which makes me even more concerned.

Thanks in advance

[dslippy]

I would write something down then pass on.

[Beegz]

I would write something down then pass on.

[Beegz]

Well this forum is useful

[atticus]

It is not usually part of a conveyancing solicitor's responsibility to advise on adequacy of the sale price.

[islandgirl]

I have never thought that the solicitor should get involved in issues re the sale price. They are instructed by the vendor who decides what is acceptable. I doubt there is anything which can be done but I am not in any way experienced in this area other than through buying and selling property.