This is a NZ legal issue. We sold our (Family Trust) South…
This is a NZ legal...
This is a NZ legal issue.Submitted: 3 years ago.Category: New Zealand Law
We sold our (Family Trust) South Auckland house via big Real Estate Co in NZ.
An Initial offer of sale (very good cash offer) was refused, since we were going to sell at Auction,it came only 2 days after property going on sale, and these buyers said they would bring this offer to the Auction. Our Agent, call her Agent A has at all times been great and eventually got a sale through by the way. Few days before the Auction, with no more official offers, we went to Auction. Didn't sell or reach Reserve, not only that, initial offer Buyers, said just few days before Auction they had bought another property, so not interested. Up until then Agent A had been told they were bringing OFFER TO Auction. Auctioneer for odd reason, pushed property to end of list and actually ran down property, pointing out disadvantages etc... Agent A said Auctioneer had not personally seen property either, or not via her. Few days after failed Auction, we received way too low, very bad sale offer from Developers (who it turns out were friends of his) via Agent B who is actually Branch Manager of Agent A, not meant to act as a Sales Agent himself, but since Agent A was handling a possible second offer, he had to handle this one, since multiple offer situation. We said No to Agent B's offer, as very bad offer, he/they came back with little better. Meantime, Agent A came through with better offer from their Buyer, which we agreed to with minor changes and they eventually bought. This however was still $50,000 less than the Initial good cash sale offer. In between accepting offer, I spoke with Agent B regarding his client/offer, and he said they didn't come to Auction, as "didn't" know about it ( ... why didn't he tell them...?). He also said regarding intial cash offer buyers buying another property only that it happens.
We then found out, via Agent A that her Manager, Agent B had approached first Buyers and sold another property to them, once we refused their offer. Not only did he not tell this to us, he was not meant to be acting as an Agent at all, and was not acting in our best interests at all, when they has expressed interest in our property and were bringing their cash offer to the Auction. I am about to complain to the Director of this Branch about Agent B, since he put massive pressure on us to accept his developed friends very bad offer, after failed Auction. He was the one who went behind his Agent's back and sold another property to them and never told her. He possible was behind the Auctioneer running down our property so ti didn't even reach Reserve price, since there were few other properties for sale at this Auction from his branch which all sold and he must know the Auctioneer personally, otherwise how did he know the details to run down the property (the kitchen floor was uneven and would need foundation work doing), the Auctioneer described it as being like a Bowling Alley channel. I want to claim the total amount lost from the sale $50,000 from amount of initial cash offer to eventual sale made, and feel the Real Estate Company, specifically MAnager/Agent B is to blame and they should pay the difference. This is a Trust property and without going into long detail, the eventual amount sold for has meant we cannot buy second property for investment and have enough funds left for various Trustees etc... This affects the lives to 3 trustee/beneficiaries... Do I have a case...? I know I can take it to Disputes Tribunal at no charge for $15,000 claim. HOwever want to claim total $50,000 from them, don't want to rack up massive legal charges, so not worth while to do so. Is there a way of claiming and paying legal fees upon successful settlement or not?
Please advise, thank you., KTM