Recovering Property Sourcing Company fees for no show

Recovering Property Sourcing Company fees for no show

11:11 AM, 8th July 2015, About 7 years ago 2

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Recovering Property Sourcing Company fees for no show

Hi all, I am a newly registered member here.

I paid nearly £7k to an established property sourcing company in London for an off plan project in Slough. The project never materialised, I was told that the builder pulled out but have no way to verify the same.

I was informed that as per the contract they have no provision to refund the money but will be retained in client their account for life. It’s coming to 6 months now and although many investment replacements opportunities have been offered none have been attractive to me.

All I now want is my money back and nothing more to do with this company.

What are my prospects here?

Are there any good legal companies who have had success of recovering monies in cases like this?

Any help would be much appreciated.

Kind Regards



Mark Alexander - Founder of Property118 View Profile

11:16 AM, 8th July 2015, About 7 years ago

Hi Arun

Have a look at the member profile for Mark Smith (Barrister-At-Law) - link >>>

You could also consider making a complaint to the redress scheme this sourcing company belongs to. If they are not a member of a redress scheme then they are breaking the law of the Estate Agents Act 1979, the enforcement for which has recently become the responsibility of HMRC so that's where you should report them.

20:48 PM, 8th July 2015, About 7 years ago

Was a contract signed, who with, and are they a limited company. What did they promise you, and what did you receive. Was there any guarantees, warranties or assurances given. How did you find them, do they have staffed offices, are there phones answered promptly, are they evasive with you on the phone, who was the money paid to, and how was it paid. Who is the alleged builder, did the alleged site or new-build have planning permission, who owns the site, have you checked him/her out with the local Council, Are the owners or directors who you deal with home owners. are they easily located, have provable and seizable assets, what was there previous trading history and how long have they been in business at the address you contacted or went to . Have you checked them out fully. or at all. Go on the attack and claim they used bait and switch tactics, were negligent and there contract was void for uncertainty. Visit your local newpsaper and see if they'll help you.

My gut feeling is you've been well and truly scammed, but proving whether it was criminal or a civil matter could be difficult, if a Civil action Claimant parties like you soon discover they are entering a costly say goodbye to your cash area. These people simply laugh at Court Summonses, Plaints, Court Orders and Bailiffs visits.

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