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John The Pessimist

Declaration Of Interest

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At the bottom of a listing that I'm interested in, there is the following;

'DECLARATION of INTEREST

Under section 21 of the Estate Agent Act 1979, we hereby declare a personal interest in the sale of this property.'

I assume this means that it's the agent themselves or a family member that is selling the house. Is there any other potential interpretation? I've checked other listings by the same agent (& others), and there is no such declaration.

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Ask them - they probably have to tell you ? (Doesn't mean they will of course)

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yes, it will usually mean that it's owned by someone at the agency, or a relative.

I would be a bit wary of these. When I was looking with a daughter some years ago the agent who showed us around told us quite openly that the flat (which was rented out) was owned by someone at the EA.

We subsequently put a very reasonable offer in, and were told that they would accept if we could exchange contracts that same day. Well, of course we couldn't - I had never heard of such a thing. But the same chap told me it was not at all unusual for investors to be ready to go at once. And we were daft enough to believe him.

We subsequently found via nethouseprices the it had sold for considerably less than our offer. In other words they were just going through the motions of putting it on the open market, while intending someone else - a mate or relative - to buy it at a much reduced price and therefore presumably cut down their own capital gains tax bill substantially.

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