Vendors pull out AFTER exchange of contract

dfh

I can't believe thay would be prepared to so this far.Makes you wonder about their mental well-being.

GDB2222

Welshwoofs wrote: »

Well it was up for around the 310 last year, but since the market crashed we got it just under the 250 stamp duty threshold. It's a rural area which is fairly hard to price to be honest as properties are all so different.

Not sure on how much equity they have, but they bought before the top of the market and I'd think this isn't their first house

If the vendors have been offered more money, it would have to be a lot more for them to want to back out of the deal with you. So, how can your vendors be certain that these new buyers won't gazunder them, once they've blown your deal out of the water?

harrup

Being embarassingly inexperienced in the house buying/selling malarkey - as we've been in the same house for 22 years and my husband handled the entire purchase procedure - I have, regrettably, nothing remotely insightful to contribute other than to wish Welshwoofs the best of luck and the mental stamina of an ox.

Wow - what a saga.

Putting myself into Welshwoofs shoes....what I would despise those Ignoramus sellers MOST for.....it wouldn't be for the expected legal hassle. At this stage I wouldn't even loathe them for accrued expenses, delays, inconvenience, etc.

I'd hate them simply because they've ruined the joy of my envisaged new home. Because that's what it was supposed to be - a home. Not merely a shrewd or prudent investment. If it was me....by now I wouldn't even want the place any more. Those unethical, moronic occupants would have destroyed any positive feeling and good vibes that place held for me. Pathetic, I know, but that's how I'd feel. And whatever monetary compensation I get - they could never reimburse me for THAT.

I would just want to destroy them financially via penalties by now...and THEN...they could keep the place. Seriously, by this stage I would think that this was a cosmic hint of sorts that this just clearly wasn't meant to be our home. Go on laugh...JMO.

Go get them Welshwoofs and keep the Merlot stocked.

All the very best

Strapped

WW, I would have thought that being in a rural area where properties are all quite different would strengthen your case (ie it's not on an estate where you could be compensated by the vendors and go on to buy an identical house next door).

kunekune

Well, in terms of legal remedies, that's pretty true. Generally, the remedy for breach of a contract of sale and purchase is an order for specific performance (ie, to carry out the contract), because damages are not an adequate remedy. THis is particularly true here.

benood

harrup wrote: »

I'd hate them simply because they've ruined the joy of my envisaged new home. Because that's what it was supposed to be - a home. Not merely a shrewd or prudent investment. If it was me....by now I wouldn't even want the place any more. Those unethical, moronic occupants would have destroyed any positive feeling and good vibes that place held for me.

No I know what you mean but I couldn't let them do that - I would have to turn it to a positive - it's such a fantastic house the vendors don't now want to sell.

Of course that could be it - it was a distressed sale but now things have started to look up and they don't need the cash.

Welshwoofs

kunekune wrote: »

Well, in terms of legal remedies, that's pretty true. Generally, the remedy for breach of a contract of sale and purchase is an order for specific performance (ie, to carry out the contract), because damages are not an adequate remedy. THis is particularly true here.

Yup, that's what we hearing from the legals. In fact there isn't a property for sale there at the moment which even has the same number of bedrooms, let alone is alike in character, location or anything else.

Welshwoofs

harrup wrote: »

I'd hate them simply because they've ruined the joy of my envisaged new home. Because that's what it was supposed to be - a home. Not merely a shrewd or prudent investment. If it was me....by now I wouldn't even want the place any more. Those unethical, moronic occupants would have destroyed any positive feeling and good vibes that place held for me. Pathetic, I know, but that's how I'd feel. And whatever monetary compensation I get - they could never reimburse me for THAT.

Actually you have hit on something which has been gnawing at me and in fact have discussed this very point with the hubby. It does feel tainted now, but the plain fact is that there aren't any other houses for sale in that town which have the same features.

After a long chat about this last weekend, we decided that we'd have to 'purge' the place - although the decorating etc doesn't actually need doing we both want to change everything and wipe the place clean of them...if that makes sense

Poppy9

Forget about purging the place, just christen it! You could have an MSE house warming party as we are all rooting for you to get this house.

ciano125

I think now (if you haven't already done so) is the time to crack open the legal can of whoop !!!!! Both cans in fact! Hit them hard Welshy!!