Vendors pull out AFTER exchange of contract

Welshwoofs

LandyAndy wrote: »

On a serious note I'm gutted for you but I think it would be great if you could keep us informed of what happens and what options you have to consider because somewhere, sometime, someone else will want that information.

Oh I absolutely will do, I'll update this thread on the advice given, what we did and what happened. I'd never want this to happen to someone else so if my experiences can help someone else in this situation at least something good may come of it!

(feeling quite chilled and confident now after quite a lot of sauvignon blanc!)

LandyAndy

Welshwoofs wrote: »

Oh I absolutely will do, I'll update this thread on the advice given, what we did and what happened. I'd never want this to happen to someone else so if my experiences can help someone else in this situation at least something good may come of it!

(feeling quite chilled and confident now after quite a lot of sauvignon blanc!)

Very good:beer:.

Poppy9

I read your earlier posts and although I felt for you felt charitable to the vendors incase they had received very bad news etc. but then read your later post that they were just after more dosh and agree with others, sue them!:D

I sincerely hope they come to their senses today.

jadex

Jeeeez, why buying in England is so complicated and stressful?

andrew09

All the best today - I hope things get sorted out

superfran_uk

Any news?? Read this yesterday in a state of disbelief! Exchange is supposed to be the time you can finally breathe out!

p00hsticks

jadex wrote: »

Jeeeez, why buying in England is so complicated and stressful?

I don't think that in this particular case it's something peculiar to England - in any country in the world, however simple or complicated the house buying process is, if at the end of the day the seller simply refuses to honour the contract and vacate the premises it's not going to be easy to sort out.

jayss

Best wishes for a successful conclusion.
Utterly astounding situation.

Especially as they shouldnt have a problem negotiating down on a new build :rolleyes: Utterly contemptable they have waited until the last minute too.

:mad::mad::mad:

Welshwoofs

Well the update on this today is that there's really no update. The estate agent has made noises that they may change their mind, but at the same time their solicitor has told ours that they absolutely have no intention of moving.

Apparently there's nothing more than we can do today as it's supposed to be completion day and we therefore have to wait and see if there are any last minute changes of heart. If nothing changes by close of business (and it appears that nothing will change) then on Monday it's time to move to the next stage and make some decisions about whether we're going for costs and compensation to walk away, or whether we'll pursue a force of sale.

So a long weekend waiting! I will update the thread again as soon as I hear more news on Monday. Just hope this experience will prove useful to someone in the future (though I obviously don't wish anyone to be in this situation in the future!)

Richard_Webster

In over 30 years in the law in 2 cases that I know about where a seller refused complete after exchange, the seller was irrational and wouldn't listen to anyone. In most cases a good talking to by his solicitor will force a seller to complete, but if they are living in their own world and won't listen to reason all you can do is go for them.

Worth trying to check if the seller has a very large mortgage secured on the house and if he is in arrears. In one of the two cases the seller was about to have his houses repossessed when his solicitors got further time on the basis that contracts were exchanged and warned him that he had to be out in 6 weeks. he was hoping to buy another property with a mortgage he thought he oculd get. This was cloud cuckoo but he wouldn't be told. We got to completion day and the seller had no intention of moving out until he could move to the new house with the new mortgage that we were told he was getting. Eventually the new lender discovered the existing arrears and refused to lend. We just got our deposit back with a pathetic amount of interest. In this case there wasn't much my clients could go in the way of suing because by the time that started the seller's mortgage lender would have repossessed and they would be left with a lot of legal costs and no way of getting them back.

However if he hasn't got a large percentage mortgage then if you sue him you can fix your judgement on the property and get paid when it is eventually sold.