Greycoat Real Estate: Who Is Responsible? The Owners Or Estate Agent?
Who is responsible when information about a property is intentionally not told to the buyer? Greycoat Real Estate explains there was a problem when a couple bought a property infested with Japanese knotweed. The estate agency brochure failed to mention the invasive plant, which would cost thousands of pounds to remove permanently.
Did the agency mislead the buyer? Or did the owners mislead the agency? The previous owners, concerning this issue, declared to the real estate agency that the property market did not have infestations or rot. However, later, Greycoat informs, they admitted they knew the Japanese knotweed was present.
They further explained they tried to remove it. However, they were unsuccessful. The new owners took their matter to the courts. Greycoat shares that the court determined that the previous owners should have informed the new owners about the infestation problem.
There was significant enough knotweed present to cause harm to both the property and any buildings, Greycoat real estate agency adds. The court believed it was the owners’ responsibility to disclose the information about the knotweed. The new owners could take action against the previous owners because of the contract breach.
Despite holding the old owners responsible, Greycoat Real Estate states it is not always the case. The estate agency is often the one accused of misleading buyers. It serves as a reminder for all parties to do their homework when selling or purchasing a home.