B
bob100
Guest
I have a question on auctioneers and conflict of interest
My friend was selling his house through an auctioneer, but there was very little interest so the house was taken off the market. A second auctioneer approached my friend and said he had a buyer, but the buyer was anonymous. My friend asked on a number of times who the buyer was but the auctioneer did not tell until the deal and price were agreed and at that stage then introducted the buyer as his sister.
As my friend had not asked the auctioneer to sell the house he said that he would pay a finders fee (to be agreed) but would not pay him a selling fee. Unfortunately no fee was agreed until the day of the sale when the auctioneer witheld 1.5% of sale price.
The auctioneer is a member of IPAV, their website has a section on code of conduct for members. This code of conduct has a section on conflict of interest, and on the agreement of fees.
Has anyone come accross a simalar story?
What is the best way to proceed? though IPAV? or via a solicitor? or is it a lost cause?
My friend was selling his house through an auctioneer, but there was very little interest so the house was taken off the market. A second auctioneer approached my friend and said he had a buyer, but the buyer was anonymous. My friend asked on a number of times who the buyer was but the auctioneer did not tell until the deal and price were agreed and at that stage then introducted the buyer as his sister.
As my friend had not asked the auctioneer to sell the house he said that he would pay a finders fee (to be agreed) but would not pay him a selling fee. Unfortunately no fee was agreed until the day of the sale when the auctioneer witheld 1.5% of sale price.
The auctioneer is a member of IPAV, their website has a section on code of conduct for members. This code of conduct has a section on conflict of interest, and on the agreement of fees.
Has anyone come accross a simalar story?
What is the best way to proceed? though IPAV? or via a solicitor? or is it a lost cause?