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Concluding missives before mortgage approval
Comments
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That's a good question actually. I wonder if the answer is along the lines of the answer to 'what happens if I were to swallow chewing gum'! Likely nothing. My solicitor in 4 sales/purchases was an older man, now recently retired. He simply said 'no, you cannot withdraw'. I believed him.
Mind you, I also heard what he had to say while referring that Aberdeen game. Who listens to a football referee/solicitor? Says it all really.Keep it simple and you will find the middle way.0 -
..and the last sale/purchase was .... when?
I don't get the Aberdeen game reference, I'm afraid. I'm one of only three or four Scotsman who don't follow the fitba' .....0 -
Going through a sale and purchase now actually. But he's retired. New solicitor now. Same firm. Same view.
The fitba reference - My old solicitor was a football referee. Before my time really, but he wouldn't stop going on about it. I'm probably one of a group of maybe 1 girls who likes cricket over football!Keep it simple and you will find the middle way.0 -
I fear the realities of today's market have led younger solicitors than yours to take a more flexible 'view' of the situation ....0
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Just a quick update on this situation - still waiting on confirmation of the mortgage offer but there have been a few things my solicitor and I wanted to iron out in the missives so we've had due cause to carry on the process.
To clear up any confusion about when the offer becomes binding, this quote is from the "CLIENT GUIDE TO THE COMBINED STANDARD OFFER AND COMBINED STANDARD CLAUSES (2009 EDITION)" issued by the "Standard Missives Joint Working Party of The Edinburgh Conveyancers Forum and The Royal Faculty of Procurators in Glasgow":The offer, any qualified acceptances and the final acceptance are together called “the Missives”. When final agreement is reached the Missives are said to be concluded and there then exists a legally binding contract. Until that point both the Seller and the Purchaser can back out or withdraw from negotiations, without warning, reason or penalty. When Missives are concluded, either party can sue the other in the event of a breach by one or the parties to carry out his or her part of the bargain.0
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