Its chief executive Russell Quirk has confirmed to MoneySavingExpert.com that he filed for voluntary administration yesterday, and expects it to be formalised today.
The Emoov website is currently still live, but its phone lines are down and customers have reported struggling to contact the firm for up to two weeks.
How does Emoov work?
Emoov charged a £895 flat fee to sell a property, or £995 for a property in London or the inner M25. It appears customers could choose to pay upfront, after 10 months or when the property was sold.
The basic package included a 10-month advert on the major property sites, a ‘for sale’ sign and a property expert to do the initial valuation, photos, floor plan and manage the entire sale.
It also offered a £1,995 pay-on-completion package.
Emoov announced a £100 million merger with estate agent Tepilo in May this year – but Quirk has said that cash flow issues have since contributed to the company’s situation.
We’ve asked Emoov how many customers will be affected by this, and how many will be left out of pocket, and will update this story when we hear back.