Vendors pull out AFTER exchange of contract

Cliveski2009

I guess we are all getting ahead of ourselves maybe - it's early days yet.
I still hold out hope for WW that the seller knows the score but is trying it on. If WW stands firm hopefully they wil come to their senses and they will have to compromise on what they buy.

clutton_2

Judges do sometimes do funny things -

i have read of one judge "pretending" to have to go to another court room to give the protagonists one last chance to settle their differences - and they did

i have heard this week of a Judge who, when presented with a fully correct Section 8 and accepting that tenants were more than 8 weeks in arrears (Section 8 is a Compulsory ground for possession for the landlord) but because the tenant told a hard luck story - the judge granted an immediate adjournment for another month to allow the tenant more time - an utterly illegal decision.

Going to court is always a risk - but its very early days just yet - and i think WW should go see their sols - talk it thru fully (take a list of questions with you) - go home and mull it over for a week before issuing further instructions. WW has an ace card here - as she is in no great hurry to settle this dispute - the Vicked Vendors however, are in a hurry - as they probably have their new build developers on their backs to complete

Issuing no further instructions at all (well for a few weeks anyway) will make the Vicked Vendors make further moves and stress them - after all they cannot sell their house now till this is settled. WW holds the ace card - time.....

Patience can sometimes win the day.....

MoneySavingNovice

Just one suggestion from me.

State you position (via you solicitor) and try and get the vendor (or one of the solicitors) to suggest Mediation / Conciliation, which would need to be binding on both parties.

I could work-out less expensive for both parties

Best of luck

space_rider

If they are in financial trouble surely they can`t afford to go to court either, so it would be in their interest to just let WW have the house.

ALIBOBSY

undetterred wrote: »

Cut your losses now, this has the potential to drag out for years,with no guarantee it'll work in your favour.

Now I am not one to go for conspiracies which seem to go on, on some of the threads within these boards. But the above poster who keeps urging you to settle quickly has only posted on this thread and 2 others. One on which the poster is asking questions as she is going onto the SVR and one about 100% mortgage bans being lifted mmmmmmmm.

Could this be the vendor????




ali x

theodog

I said it before I say it again WW Keep fighting, my mum has a saying :
slowly slowly catchy monkey

Take your time, you are the injured party, you are the one who holds the ace card: you can afford their house and you have the potential to scupper any further attempts by the vendor to sell.

We were nearly in your position with our vendor saying they were practically giving the hse away in hindsight with a view to getting us to up our offer.HOLD FIRM and see what happens.
But fight them all the way

Good Luck
Theodog

GDB2222

barnaby-bear wrote: »

But she's looking at being 40k out of pocket because of the shift in the local housing market as it is..... is it likely the vendor can fund a spirited fight, would they push themselves towards bankruptcy (they'd not be able to get another mortgage for a long time)?

That's a good question. It's what makes litigation so fascinating to watch, all the twists and turns. Better than Dallas (not that I ever watched that, actually). I don't know the vendors, but they don't sound from what WW said like the sort of people to pour (literally) money into their solicitors hands. But maybe they are. Who knows? Maybe they have nothing to lose? It's a big gamble litigating, even with what you think is a cast iron case.

As Pinkshoes said, "WW will end up out of pocket whichever way it's played". It's just a question of minimising the risks as well as the losses. I do think all the people urging WW on are not taking this into account sufficiently.

Chinkle

Gosh WW, do take your time to absorb this new information. Put aside all the "woe is me" stuff as it's irrelevant. Make sure you have as much of the financial facts from their side as possible. It seems strange to me that they have a mortgage offer but think it's unaffordable - have they lied somewhere in their application (forgot to mention some loans/debts they have to service?). A bank wouldn't knowing offer a mortgage that was unaffordable (well certainly not in these times!).

And why try to backtrack instead of finding another mortgage - that way they won't lose the deposit on the new-build of their dreams either, everyone moves on and is happy. Very strange.

I'm not sure you have got all the facts on this one yet WW.

Lavendyr

WW, I have been following this thread and have no helpful advice to add, but you have my utmost sympathies, what a dreadful situation to be in. I really hope it works out for you and that you are able to complete (whether through the courts or not) - people should not be allowed to get away with that kind of behaviour, in my opinion. Best of luck.

clutton_2

re-thinking about mediation again - would you REALLY trust these beggars to abide by a decision which was non-legally binding ???