Buying a house: Does the housing industry have a conflict of interest?
Questioner
Good afternoon, I would like to know your opinion on the following: You are renting a home, for which the housing association has indicated that they are offering the homes for sale to tenants. The procedure determined by the housing association is as follows: You report to the housing association that you are interested; they will send you to a valuer with whom they do business, to value the house. This becomes the sales price, on which a discount may be given depending on the number of rental years. In this case, a discount of 500 euros is given on the sales price for 4 rental years (so negligible). The fixed costs for the valuation, at 225, have been agreed by the housing association with the valuer, who is also their selling broker. The valuation costs are for the account of the tenant, in the event of a purchase you will get them back from the housing association. My question now is: the appraiser is also the selling broker of the housing association...is this allowed? I see a conflict of interest here...in any case, no impartiality in the appraisal. In addition, if I want to buy the house, I will have to pay for another valuation, because the mortgage provider does not accept a valuation report from the selling party. And rightly so. Can the housing association charge me the valuation costs of a valuer appointed by them and a valuation amount determined by them? In my view, they are more the client than I am. The appraisal by the sales agent of the housing was today, and the appraiser left with the message that he is going to discuss everything with housing and will come next week with the report and therefore the purchase price. So we don't know anything yet. There were still questions about whether or not the utility room built by the previous tenant is included in the valuation, in short, is it part of housing development or not, in addition, there is a drain under the utility room, through which all the rainwater, including that of my neighbours, runs to the sewer. The drain in my utility room has already overflowed due to a blockage, which was then solved by housing development, but in the event of a possible purchase this problem will be my responsibility; I would therefore like to see that the rainwater from the neighbours' gutter does not go via my house but has its own drain. ..He is still going to discuss all this with the housing development and will then come up with his valuation value. Finally, the following: suppose I agree with the agreed price and sign the purchase contract with the housing association. The house is then appraised lower by an independent appraiser on behalf of the mortgage provider and suppose I do not get the required mortgage amount... then I may be able to cancel the purchase contract due to the inability to obtain financing, but then I will have already incurred a lot of costs before that happens; 2 x appraisal costs, NHG application, advisor and perhaps more... etc. This could be a few thousand euros.. I have a very strange feeling about this course of events and wonder if this is all possible. I find it all very vague, I can get into serious trouble because of it, but at the same time it is a nice house and I would like to buy it. I would be very grateful if you could give me some light in this dark tunnel. Thank you in advance.Lawyer
You are actually asking multiple questions, this site is intended for short questions and not for extensive advice. If you contact me directly I can help you further.Neem de volgende stap
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