Hi Rob,(posted 8551 days ago)I believe it's very crafty of them to waive the Estate Agents fees as a gesture of "Good Will" because I'm sure they don't want the exorbitant fee questioned. That does not mean that you can't question the whole issue of the valuation and marketing of the property.
If there is one issue that shows just how arrogant lenders can be it's this one. They know only too well that the public perception of repossession is that properties are sold off quickly at rock-bottom prices! Why do the public have that perception despite the lenders stating publicly that it isn't the case? Because all the evidence points to it - thats why!
In my case with the Halifax I believe I have the documentation to prove that they deliberately undervalued and under-marketed the property. Do they care? It seems not! The Halifax's CEO even had the gall to state publicly in the Sun newspaper that his number one tip is; "If things aren't right, say so. It is foolish to pretend all is perfect when it isn't". Yet when I gave him evidence that many things weren't right with actions that the Halifax had taken in my case, what did he do? He avoided giving answers to my specific questions by sending me a standard letter of "deadlock" from his Customer Relations department stating that they now believed that all my concerns had been addressed!
Rob, "Skipton Building Society -v- Stott" it now means that your repossessed property should have been marketed by the Estate Agents in the same way that they market other properties they handle. If they had done so then a normal percentage fee would have been due. Less of course the reduction for having been granted "Sole Agency". The property should also have benefited from being marketed as "Vacant Possession". This is even stated as being a known benefit towards any sale in my Mortage Conditions from the Halifax!! Yet did they advertise it as such? Guess - you got it - NO!
Continue to INSIST that you receive copies of the valuations that were carried out AND copies of the actual (dated) sales particulars for the property that were used by the Estate Agents.
We all know the stress that we are put through by the lenders actions. I believe that until it is publicised more they will continue in the same arrogant way. I would suggest that you keep records of your illnesses. Try to keep cheerful but keep fighting!
Regards, Tony.