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Vendors pull out AFTER exchange of contract

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Comments

  • AMILLIONDOLLARS
    AMILLIONDOLLARS Posts: 2,299 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Welshwoofs wrote: »
    the vendors were apparently shocked to hell when a bill for the EA's fees landed on their doorstep
    :rotfl::rotfl:lordy lordy!!!
    Nominated for the Best Laugh of the Day:D:D

    AMD
    Debt Free!!!
  • gelato_cat
    gelato_cat Posts: 2,970 Ambassador
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Perhaps. But he should have pointed out to them that they need to pay the EA - this news seems to have come as a surprise to them...

    Suze

    Walter-Ego wrote: »
    Are we sure they are being badly advised?

    Or are they just ignoring their solicitor's advice?

    The solicitor may be reading the riot act to them on a daily basis but if they are saying to him "We want to get out of this transaction, please advise us how we might do that", then he can only put forward the possibilities that have been tried so far and perhaps others yet to be disclosed.

    In the end your solicitor is your servant (albeit a well paid one) not your master.
    I’m a Forum Ambassador and I support the Forum Team on the Savings & Investments, Small Biz MoneySaving and House Buying, Renting & Selling boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the Report button, or by e-mailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • dld2s
    dld2s Posts: 441 Forumite
    Part of the Furniture 100 Posts Combo Breaker Uniform Washer
    I'll tell you what, if they have another offer on the table it must be a helluva offer if it makes them want to play Russian roulette that they may get off lightly but could cost them a bloody fortune, good luck Welshwoofs
  • silvercar
    silvercar Posts: 49,729 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Suzey wrote: »
    Perhaps. But he should have pointed out to them that they need to pay the EA - this news seems to have come as a surprise to them...

    Suze

    I would have thought paying the EA is the least of their worries.

    We don't know the exact wording of their EA contract, if it says something like, "...leading to successful completion..." there is a chance that they may not have to pay.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    silvercar wrote: »
    I would have thought paying the EA is the least of their worries.

    We don't know the exact wording of their EA contract, if it says something like, "...leading to successful completion..." there is a chance that they may not have to pay.

    It may well just say exchange of contracts is all that is required for the EA to be entitled to their fee.
    "You were only supposed to blow the bl**dy doors off!!"
  • AMILLIONDOLLARS
    AMILLIONDOLLARS Posts: 2,299 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 20 July 2009 at 9:55AM
    Thinking of this other buyer, do you think they know what is going on? I mean
    who puts in an offer on a house which has exchanged with another buyer? I suspect these buyers maybe in the dark about this whole situation. Let hope they have not paid for a survey or employed the services of a solicitor, they could be in for a nasty shock in the coming weeks:eek:

    This will be an interesting week ahead for everyone concerned!

    AMD
    Debt Free!!!
  • pawpurrs
    pawpurrs Posts: 3,910 Forumite
    1,000 Posts Combo Breaker
    AMILLIONDOLLARS wrote: »
    Thinking of this other buyer, do they know that is going on? I mean
    who puts in an offer on a house which has exchanged with another buyer? I suspect these buyers maybe in the dark about this whole situation. Let hope they have not paid for a survey or employed the services of a solicitor, they could be in for a nasty shock in the coming weeks:eek:

    AMD

    Yes quite, just what I was thinking, who would want to get involved in that?
    Pawpurrs x ;)
  • silvercar
    silvercar Posts: 49,729 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    pawpurrs wrote: »
    Yes quite, just what I was thinking, who would want to get involved in that?

    They can't know or they wouldn't pay out for legals and surveys, unless they are friends or family.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • Imlovingit_2
    Imlovingit_2 Posts: 41 Forumite
    Just had a look on our EA contract and it states "This commission is payable on legal completion of the sale of your property" I do so hope theirs is different
  • 4Chickens
    4Chickens Posts: 505 Forumite
    Wouldn't it be interesting if someone started a thread.

    "We have exchanged contracts but have a better offer. How can we pull out?"

    I cannot beleive that these fools think a judge would side with them. They are in breach of contract, plain and simple.

    Keep us updated
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