|Foxtons Admits Failure To Provide Accurate Information|
Court fines estate agent under Property Misdescription Act
Estate agency Foxtons has been fined £4,632 after admitting that they failed to provide accurate information during a property sale.
No stranger to the courts, the Chiswick based agents did not inform the buyer of a £450,000 property that it was designated as a work / live premises and not residential leaving the buyer facing a bill for £20,000 if he wanted to convert the property to solely residential use.
Although the buyer pulled out of the sale, it was a very late stage and only after paying more than £600 in conveyancing fees.
Foxtons admitted an offence under section 1 of the Property Misdescription Act 1991, was fined £3667, and ordered to pay £695 in costs. The agency also paid the buyer's conveyancing fees.