The Winning Bid! But at what cost?
A case that The Property Ombudsman was asked to review came from buyers who stated that the agent misrepresented the property they purchased at auction as they failed to make them aware that the property was tenanted or that there were only 55 years remaining on the lease. The buyers were seeking the return of the £3,000 reservation fee they paid which the agent had transferred to the seller following their withdrawal from the purchase.