Deliberate undervaluing and false purchaser scame

[sandiann]

I have just been victim of deliberate undervaluing/false purchaser scam. Estate agent undervalued my late mothers house and sold it to a contact. Immediately on completion it was offered and resold for c£100,000 more.
the agent is obviously corrupt : is there any action i can take?

[des8]

Re: Deliberate undervaluing and false purchaser scame

Hi and welcome
Condolences on the passing of your mother

Did the executor(s) not obtain at least three valuations from different estate agents prior to placing property on market?

If the estate agent is a member of the Property Ombudsman's scheme or some other redress scheme to whom you can complain.
Your first step tho' will be a formal letter of complaint to the agent concerned.

[sandiann]

Re: Deliberate undervaluing and false purchaser scame

Hi and thanks
I am sole executor and i did get 3 estate agent quotes - found on zoopla and all gave same valuation. I suspect collusion. I have now referred to the police fraud dept who told me i would not find an honest estate agent in that area and the scam
I fell victim of is frequently practiced. So I have written a letter of complaint and see where that takes me.

[wales01man]

Re: Deliberate undervaluing and false purchaser scame

Try another 3 estate agents? If they come in around the same price that is probably what its worth the true value is what a buyer will pay not anyones guess at a value

[sandiann]

Re: Deliberate undervaluing and false purchaser scame

Try another 3 estate agents? If they come in around the same price that is probably what its worth the true value is what a buyer will pay not anyones guess at a value

too late for that - i'
ve now sold it and 3 days later it was sold on for £100,000 more - so that was its true value.