arrangement fees

robiand

hi everyone

i'm looking for a little bit of adivce..... me and my girlfriend we are first time buyers, we had found the perfect house and upon time 10am this morning were about two weeks from completing the sale of the property...... but the seller has pulled out of the sale and decided to rent:eek: . we have already paid 800 pound for a survey (full structual survey) i'm expecting to pay around 700 pound for solicitors fees maybe a bit less because the sale was not completed but we are now faced with the situation that if we do not find another property in under 3months and withdraw from the mortgage agreed were would have to pay a further 1000 pound for the arrangement of the mortgage. we would really appreciate some input to whether any money can be claimed back or avoid paying the arrangenment few.

my other all thought is maybe there should be some protection in place for buyers when the sale gets so far because i could end up 2500 pound out of pocket and its hard enough already to raise funds to buy a property and its even harder now we've lost money. but the sellers walks away without any worries.:mad:

thank you.
rob

Trying_to_be_good

I'm assuming you hadn't yet exchanged contracts (and paid a deposit), so nothing was legally signed between the two parties for the sale?

robiand

NO there was no contracts exchange and deposit paid.... but being two weeks from completion its very frustrating for this to happen especially being a first time buyer. Do you not think maybe there should be some protection put in place for buyers for situations like this???? Also correct me if i'm wrong here because i'm not entirely sure how it works but is it correct that in scotland once the offered is agreed that is legally binding (i don't no what protection a buyer has) but surely there way of things seems better. i don't want to sound to bitter haha.