Vendors pull out AFTER exchange of contract

Beardmidget

It's not that hard to find rented accommodation- I would also feel unsympathetic to their cause given the amount of time you have been waiting to hear this.

Poppy9

And did they make enquiries as to whether you were homeless due to the actions (or lack of)?

TBH I wouldn't want their house as they would probably put rotting fish under the floorboards in revenge. I would ask for compensation in the form of 6 months rent on another property as this is usually the min. rental period, the cost of removals, all fees associated with this failed sale and any other out of pocket expenses.

FraudBuster

Obviously as their offer is derisory and their excuses flimsey, we're instructing the solicitors to start the process to force the sale.

Excellent news.

Burlesque_Babe

barnaby-bear wrote: »

Occassionally mortgage offers can be pulled after exchange and before completion, particularly if new information arises on a credit check between the two, a new CCJ could have been imposed or alike....

this happened about 10 years ago next door to me. The property was empty (elderly lady gone into care home) and it was sold. After exchange, the new owners were given the keys by the EA as they wanted to put up some new higher fencing - they had 2 alsatians and to be honest it was fine by us - saved us a fortune on new fencing! They came and put it up and then (again with the blessing of the EA) moved loads of boxes and some bits of furniture into the house.

The day before completion, the chain fell apart. There was a women at the other end who had a mortgage offer but was then going to be made redundant. The employer decided to grass up the lady and told the mortgage company - who withdrew the mortgage. This meant she couldn't move out of her rented accommodation so the chain was broken. The couple planning on moving in next to me had to wait over the weekend to see if the woman could sort it on the Monday, and on the Tuesday they had to move all their stuff out again as she couldn't. It went back on the market and someone else bought it.

Welshwoofs

Poppy9 wrote: »

And did they make enquiries as to whether you were homeless due to the actions (or lack of)?

Well no, of course not. They are the only people in the world with a family, jobs and other considerations in life....apparently.

superfran_uk

Absolutely disgusting, I'd take them for every penny and more. The cheek of writing you a begging letter afterwards ... They've had months to do it! Some people are so wrapped up in their own insignificant worlds and oblivious as to how their selfish actions affect others, but you'd have to be a complete ignorant imbecile not to realise that this could seriously affect others - you could have been made homeless !!!!!!!

But maybe they are ignorant imbeciles, why on earth would you exchange without every little thing in place otherwise?

I look forward to your updates, I hope it goes in your favour.

I'm hoping we'll see new post on here 'We pulled out for like, totally good reasons, and are now being pursued for cash by greedy buyer! Advice pls'.

pinkshoes

I would write them a reply (via solicitor) stating that you fully intend to force the sale of their house through the court, so unless they want £1000s added onto the current ever increasing costs in all your solicitor/lawyer/court bills, then they need to move into rented accomodation ASAP.

Good Luck!

(and don't forget to charge them if they leave any nasty surprises...)

GDB2222

The first thing I would do is try to find out whether your vendors are worth suing, as Richard Webster said. Otherwise, you are wasting your time and money.

If the house has a mortgage on it, the vendors are going to have to stump up that amount. If you force through completion of the contract for less than the mortgage amount and the vendors don't have the money to bridge the gap, you are going to have a pyrrhic victory.

Whilst you have definitely been wronged, you can now make matters worse for yourselves by going to law against somebody who may be virtually bankrupt.

ladybird3

I am staggered that they have hear the nerve to write you such a letter!!!

Also as has been previously mentioned, they would have surely had to have the mortgage absolutely set in stone before the solicitor would do any exchanging of contracts or anything like that?
All sounds a bit dodgy and my heart absolutely goes out to you-good to hear you're going to pursue it
DO NOT GIVE IN!

FairyElephant_2

Welshwoofs, I completely applaud you for the route you are taking! Like lots of others on here, I am fed up with people not taking responsilibity for their actions (see my siggy!!!!!) and I quite agree you should force the sale. Best of luck!

I am also a little amused by the term 'favourable mortgage' - it does not say 'no mortgage' so could it be they now realise they can't get as good a mortgage as they hoped - if so, then tough! They should not have entered into a legal agreement before they considered all the ramifications. Sorry.

GDB2222, whilst I see what you are saying, I don't think it applies if the OP is going to legally enforce the sale as they have said, they won't be suing the vendors, so the vendors financial position is not really a concern of the OP. Cruel it may sound, but it's not the OP's problem if the vendors agreed to sell for less than the value of their mortgage with no plans in place to make up the shortfall - that is their own stupidity! That is life, and that's the law!