Vendors pull out AFTER exchange of contract

stutheobald

So, we got the solicitor to issue them with a letter today advising them that we plan to pursue them for damages which could be substantial. We will see if this makes them sell us the house or not though I am not holding out much hope

Gwhiz

stutheobald wrote: »

So, we got the solicitor to issue them with a letter today advising them that we plan to pursue them for damages which could be substantial. We will see if this makes them sell us the house or not though I am not holding out much hope

Never underestimate the power of a legal letter and the spectre of financial penalties to focus the mind

gauly

stutheobald wrote: »

So, we got the solicitor to issue them with a letter today advising them that we plan to pursue them for damages which could be substantial. We will see if this makes them sell us the house or not though I am not holding out much hope

If contracts have been exchanged then you can force them to sell you the house at the price agreed in the contract - but it may take a very long time and cost a lot in lawyer fees etc. Probably easier to go for the "substantial damages" as you suggest - though that isn't going to work if they have no money or disapear to Australia!

DodgyLurgy

stutheobald wrote: »

Maybe but they picked up the keys to their new rented house the day before cancelling the sale and then told the letting agent that we had pulled out of the sale so they wanted out of their contract.

I'm interested in their reasoning for this, why pick up they keys to their new (rented) house but then tell the letting agent the next day that you had pulled out? :huh:

stutheobald

DodgyLurgy wrote: »

I'm interested in their reasoning for this, why pick up they keys to their new (rented) house but then tell the letting agent the next day that you had pulled out? :huh:

yeah, join the list of people who are scratching their heads over it...

AMILLIONDOLLARS

I think they wanted out of their lettings contract using the OP as an excuse. Any news on what is happening!

AMD

firdol

Just curious, is the contract agreement can't solve this problem?
I mean we always have agreement before doing business

stutheobald

AMILLIONDOLLARS wrote: »

I think they wanted out of their lettings contract using the OP as an excuse. Any news on what is happening!

AMD

Pretty much, the rental guy that we spoke to said that they alluded to the fact that it was our fault the sale isnt going through. We still hafe five days to wait until the notice to complete expires, until then we can't realy do anything. I will be engaging a solicitor in preperation of their failure to complete early this week.

Yorkie1

Good luck to you

stutheobald

so today is the last day for them to complete...on monday we will issue a notice to rescind so that we can get out of the contract and then we go after them for damages