Vendors pull out AFTER exchange of contract

ciano125

Hmph :mad: Was never any good at waiting!! :rotfl:

RecoveringAlcoholic

As the vendors appear to have mental health issues, belt and braces on the insurance aspect is suggested.

Welshwoofs

Ok... well update time!

So, the 'shot across the bows' was basically a letter outlining 3 possible ways to go. #1 was for them to complete in 14 days + pay costs (solicitor, aborted removals etc), #2 was buyout of contract for a lump sum which included costs and #3 was to take it to court to force sale and deduct costs from sale price.

Vendors have responded stating, again, that they refuse to complete with us and will only pay solicitor + survey costs. They've stated that should we attempt to force sale they'll impress upon the court that a 'young family will be homeless' and consider that a judgement would go in their favour on that basis. However they do have a formal mortgage offer and have said they want the matter settled quickly as they're 'keen to move on' which rather makes a mockery of the 'homeless' sob story.

It looks very much like they have a private buyer in the wings who is offering more than they agreed to sell for and they're intending on trying every ploy possible to wriggle out of this with only basic costs paid and sell to someone else and, if all else fails, try some ploy on the basis of making kids homeless.

We have a meeting with solicitors early next week to plan the next steps but right now I'm absolutely f'ing seething at the sheer greed and audacity of these people :mad:

Gwhiz

Greedy !!!!!!s!!!! :mad:

Best of luck next week!

Dinah93

Lol it's never, ever going to go their way in court since there is such a thing as rental, they could have made your family homeless in the process, and they dop have a mortage offer, not your problem to sort out if they hoped it would be better!

pawpurrs

What cheeky barstewards! I would take them to court, theres no way they will win, and I reckon their soliceter is advising them of this, or should be, but they want to see if you will go away quietly, dont let them think you will.

silvercar

Why isn't their solicitor laying it on the line. He can't possibly be telling them to go to court

Welshwoofs

silvercar wrote: »

Why isn't their solicitor laying it on the line. He can't possibly be telling them to go to court

Lord knows what they're being advised....if their solicitors' letters are anything to judge by, they have enough problems with basic grammar!

wannabe_sybil

I hope you don't mind me posting, I know little about housing, but a bit more about courts.

The courts are widely known to be reluctant to force sale where there are young children in cases such as charging orders for debt, breakdown of relationships etc.

In this case I find it hard to believe that the judge will see it in the same light as there has been a great deal of opportunity to rent and once the sale proceeds there will be ample funds to provide housing for the 'young family'. In addition, if there had been a problem then this should have been addressed prior to legally binding exchange.

I think your vendors are relying on the wrong part of the court's discretion. But judges like a laugh as much as anyone. Don't forget to ask for costs when you win.

Welshwoofs

wannabe_sybil wrote: »

I hope you don't mind me posting, I know little about housing, but a bit more about courts.

Not at all! It's especially interesting to hear from people with court experience.

In this case I find it hard to believe that the judge will see it in the same light as there has been a great deal of opportunity to rent and once the sale proceeds there will be ample funds to provide housing for the 'young family'. In addition, if there had been a problem then this should have been addressed prior to legally binding exchange.

Well quite...this is not a poor, destitute family. They both have good jobs, new cars and are apparently not in a negative equity situation. They've also had nearly 2 months between exchange and completion which, even if the house of one's dreams fell through (and I don't know that to be the case), is plenty of time to organise a rental property. It's not as though we were even robbing them on price - the survey valued it the same as our offer!

Definitely going to have to hit the vino tonight - I've been fairly calm up til now and really expected them to see sense. Now I'm as angry as all hell because this is messing with our lives - my OH was in the act of moving his business! He's now out today desperately trying to find some therapy practices which are willing to temporarily rent rooms/push clients his way in return for a fee. I'm angry...he's as worried as all hell about the possible impact on this income if they draw it out till the bitter end. It's only the fact that I'm on a very good salary that we're holding firm..if he was the breadwinner we may have had to cut our losses!