Vendors pull out AFTER exchange of contract

Soot2006

Any idea what frame of mind their solicitor is in?

He must be tearing out his hair at their behaviour if he can't get through to them that they will lose so much more than they will gain through this!!

Gwhiz

Welshwoofs - just read this so just saying hope it all works out in the end. Really feel for you!

chickmug

Just thinking again and do remember a case where it was a very very acrimoneous split up. The ex wife had made it clear, through the solicitor, she would not sign the paperwork to authorise legal completion.

The solicitor warned me that it looked like it was going to a be a first for him of an exchange and no completion.

However the wife used it for a barginning tool and got her husband to agree almost immediately to a higher offer of the % of assets than he had previously. So it did proceed after a very short delay.

Do you think there any any of this going on in your case?

ladybird3

wowzers i really feel for you! reading stories like this make me feel so nervous as am currently in the first stages of buying a place

Surely the vendors have absolutely not a leg to stand on given that exchange has taken place? I was under the impression that if exchange goes through then someone has to literally die before the completion would not happen

I think if it was me i'd be round their banging on the door yelling at them to get the hell out of MY house!!
Just cant believe people have the nerve to do something like this its unbelievable-even more crazy that the solicitor has said give them more money. . . . . . . are you sure he's not set up in some kind of scam with them because it sounds strange??

Welshwoofs

I hope to God they're not in arrears, that thought hadn't even crossed my mind! They both have good jobs and new mid-range cars so I'm going to keep my fingers crossed that there's not a financial sesspool lurking under the surface. Of course you get all sorts of stories and what the EA says often doesn't match up with what is being relayed through solicitors and I'm afraid to say that I think the EA is just trying to keep things upbeat in the hope a miracle happens.

It's all a bit of a mystery and it seems to me that they're commiting financial suicide when the most sensible option would be to lower their expectations and buy a less expensive house!

I have a nasty feeling that it's going to be a very long and messy road ahead

gauly

They say they want to put the house back on the market and get more money for it - obviously they can't do this (mainly since it's actually your house now not theirs). Have they definitely had this pointed out to them? Maybe when it is made clear to them that they don't have the right to sell the house then they will change their minds. If they do try and sell it then I wonder if you need to put some kind of charge on it to stop it being sold?

Blacksheep1979

I'd also have the message passed along to them that any other future potential buyers who maybe stupid enough to offer on the property (and offer more) will probably think twice due to the track record of the vendors...

This is complete financial suicide for them - do they not realise that it's going to cost them 10's of thousands?

chickmug

gauly wrote: »

They say they want to put the house back on the market and get more money for it - obviously they can't do this (mainly since it's actually your house now not theirs).

Legal completion never took place so it is still their house

chickmug

Blacksheep1979 wrote: »

I'd also have the message passed along to them that any other future potential buyers who maybe stupid enough to offer on the property (and offer more) will probably think twice due to the track record of the vendors...

This is complete financial suicide for them - do they not realise that it's going to cost them 10's of thousands?

I used to get so p!!ssed off at times, with sellers and buyers, I used to threaten to put them on a black list that is circulated around all agents in the region. I was probably breaking some rule but I felt better for letting off steam.

Richard_Webster

If they do try and sell it then I wonder if you need to put some kind of charge on it to stop it being sold?

Yes you can put an entry on at the Registry to alert other potential buyers who would require it removed before they would proceed (and obviously you wouldn't agree to its removal), so they shouldn't be able to do that.