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Seller backing out after exchange!?
PRicho
Posts: 3 Newbie
I exchanged contracts for my new house over a month ago and tomorrow was the move date! had a phone call from my solicitors yesterday to say that the seller no longer wants to move. There is no chain, he already has another property that he moved into earlier this week and it sounds like he doesn't like it.
Ive got a appointment at my solicitors later today, I presume as the contracts are signed I'm in the better situation, and am liable for some compensation? Ive got insurance cover and furniture due to arrive tomorrow.
Just after any advice anybody can give me.
livid
Ive got a appointment at my solicitors later today, I presume as the contracts are signed I'm in the better situation, and am liable for some compensation? Ive got insurance cover and furniture due to arrive tomorrow.
Just after any advice anybody can give me.
livid
0
Comments
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You can apply for Specific performance of the contract, i.e. for the seller to be forced to complete the sale. If he does not do so then the court will order the execution of the transfer deed
If he does not, then Seller would be ordered to pay costs, if he has the money.
Pawpurrs x
0 -
We very rarely came across this and in the vast majority of the cases, where the seller (last minute) threatened not to complete they actually did. Their solicitor gave them a stern talking to and pointed out their liabilities under the contract.
In fact I am struggling to think of any that never completed despite the threats.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
oh no.. how awful.... I am sure you are in a good position though.. this thread discusses this issue
http://forums.moneysavingexpert.com/showthread.html?p=18606499
good luck... i think you might need it :-(0 -
I'll mention the Specific performance of the contract to my solicitors.
@Chickmug - I'd hope his solicitor would of made him aware of the liabilities before they contacted mine.
@Charliee - I hope good luck is on my side, I should be in a win win situation. just the hassle side of it 0 -
@Chickmug - I'd hope his solicitor would of made him aware of the liabilities before they contacted mine.
They may be trying it on and hoping you will let them back out without a fight. So you need to tell your solicitor to 'give them hell' with every threat under the sun. Unless you would rather not proceed?A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0
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