Scotland - backing out of sale

Meerkat5

Looking for some personal experiences here, will obviously be talking to our solicitor. In a nutshell:

- Missives concluded on new house, move in date end of August
- Missives about to be concluded on old house when buyer has emergency quad heart bypass and understandably pulls out of sale (may)
- propery market dead, despite house being in very desirable area
- house price slashed to real bargain, still no luck in selling
- now less than 2 months to move in date HELL. Can afford both mortgages but need some to sell for deposit (notall of it but a chunk)

Anyone pulled out of a sale after the missives were concluded? Have been told we'd be sued and/or made sell the new house ourselves.

Tiger_greeneyes

It's not an easy situation by all means, you're far better off speaking with your solicitor tbh. I've never had a sale or purchase fall through in Scotland, they've always gone through like a dream for me. It's usually in England I get problems like this.

I hope it works out well for you though. Where in Scotland is your house for sale btw?

pinkshoes

Did your solicitor not mention anything when you exchanged on the property you were buying before exchanging on the one you were selling?? Seem a little risky to me! Hence perhaps if your solicitor isn't the best, it may be wise to speak to another one??

Could you not sell it to "one of those companies that buys your house"? You might only get 70% of the asking price though.

epz_2

could you rent the old place out temporally?

Anon1

Meerkat, any updates on your situation? I'm in a similar position.