OFT investigates 'quick house sale' firms
By Sarah Reynolds
The Office of Fair Trading (OFT) has carried out a study into the quick house sales sector and the alleged unfair practices of some of the businesses involved with these sales that may have led to certain customers losing tens of thousands of pounds.
Quick house sale providers offer to buy a house or find a third buyer very quickly and hassle free; however, this is usually at a knock-down price (typically between 10 and 25 per cent) of the full market value of the property.
The OFT launched the study in April this year following concerns about the risks to sellers in vulnerable situations, such as older people needing to move quickly due to declining health or those needing to clear debts and/or to avoid repossession…
If you are registered and logged in to the site, click on the link below to read the rest of the Goodman Derrick briefing. If not, please register or sign in with your details below.
News from Goodman Derrick
Briefings from Goodman Derrick
The High Court has considered whether the defendant indemnifier was liable under a contract of indemnity, when the claimant indemnified party had not yet paid out the sums owed to the creditor.
The amusing story of one ‘selfie’-obsessed macaque monkey has turned into a row that raises novel points of copyright law.
Analysis from The Lawyer
Active financial management is vital, but with firms looking more closely at the process of debt and fee collection, the personal touch still counts
The lure of the law can kick in at any stage of life. We speak to four individuals who have made a radical switch to a legal career