Vendors pull out AFTER exchange of contract

ciano125

I think you should offer to have a meeting to try and mitigate the situation, but still stick to your guns and go for specific performance. Then when it goes to court you can say that you have tried to be reasonable but they aren't being.

They need to be taught a lesson they won't forget, and they won't forget this, especially if they lose thousands on the new build. They won't do it again that's for sure.

Kick a$$ WW.

Money_maker

So what would have been the scenario if you had been a family buyer, in a chain, forced into rented accomodation? Would they still be playing the poor family card or would they have moved out? I reckon they would not have moved even for them and perhaps would have got away with it given the time and expense of court proceedings.

Personally I reckon they're lying through their teeth and there's more to this than meets the eye.

Given your needs with regard to your family, I can see why you do not want to let this go. Do what is best for you and yours. Disregard their financial problems - they are their problem. I really do hope they give this up and are just playing for time. Are there no legal precedents at all that can be drawn on for comparison.

Stay strong - we're all thinking of you.

silvercar

Maybe they have already applied for another mortgage and while all this delay happens they intend to go ahead as soon as they secure an interest only mortgage.

DVardysShadow

ciano125 wrote: »

I think you should offer to have a meeting to try and mitigate the situation, but still stick to your guns and go for specific performance. Then when it goes to court you can say that you have tried to be reasonable but they aren't being.

They need to be taught a lesson they won't forget, and they won't forget this, especially if they lose thousands on the new build. They won't do it again that's for sure.

Kick a$$ WW.

That does not sit easy with me, as the sole issue is whether to complete or not, UNLESS Welshwoofs is prepared to concede that the sale is off and settle for compensation, in which case mediation could be appropriate for the compensation.

ALSO, done in the spirit you suggest, it would be for show, not for real.

In this case, it is probably better to keep it in correspondence, so that any offers made by Welshwoofs are kept intact, rather than lost in the dustclouds surrounding the mediation

satchmeister

clutton wrote: »

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

I agree, and so far the vendors have given nothing even when they are 100% in the wrong bar covering some costs to date (well saying they will - no cash upfront in good faith I assume). They have been devious and underhand, used emotional blackmail etc. They would probably put on a front at any mediation come to some agreement and then totally ignore it and do what they want - which is what they have been doing to date.

WW - take some time and write down - yes write down the possible actions (together with your legals) and then decide what to do.

All the best for a good outcome.

Andy_Davies

Highlights one of the current problems with the way house sales are conducted in this country... the buyer has to put down a deposit that they lose if they pull out... the seller doesn't have to put anything down and so can break deal and say so sue me!

Time for sellers to put up a bond too?

Andy

redcar_2

Am I missing something here or are these people not breaking two contracts, one with WW and one with the developers?

Are you sure they have been let off with just losing the deposit with the developers or are they being forced to complete or provide further compensation on that side? If they will be forced to or intend to complete with the developers I'd guess as you suspect their plan is to remarket for a higher price to enable them to satisfy that contract or at least put them in a better financial position.

Can you smoke that out in discussions?

clutton_2

if you can find out the name of the development they are buying into there are many forums which discuss "off-plan" developments whihc are not going according to plan - you may be able to glean some info from these forums also....

barnaby-bear

ALIBOBSY wrote: »

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

And weirdly I think some posts deleted. The SVR one is a thread they started (so probably harder to delete the original post). The lender mentioned is YBS and moving to SVR at the moment so whether that ties in with the LR charges registered might be interesting.... this thread is showing up pretty high on googling anything about SP/pulling out between exchange and completion - so if the vendor has internet and brain cell () it is very likely they are reading this.But that could be a good thing if you play poker/want to wind them up.....

silverchair

I've been reading this forum with interest

Well done WW for not being suckered by their emotional blackmail & sticking to your guns.

You mentioned that there is a similar property in the area for 40K more. It would be like giving 40K extra of your hard earned cash to the vendors if you didnt pursue this & bought the similar property instead. Im sure you could think of better ways to spend it. If they keep going on about their kids made to be homeless (forced to live in smaller property or rent) & its beginning to affect you (which Im sure it wont) think about the kids around the world (including this country) who are really homeless or suffering real poverty. It would be better to give any extra cash to those kids & families rather than these irresponsible morons.

Good Luck & thanks for keeping us all posted!!!