House Builder to Pull Out

arrow2001

Now it's a long story but to top and tail it:

We are in the process of buying a 2 bed flat to rent out.
They tried to pressure us into using their solicitor but we refused.
We commisioned our conveyancer the day after signing a reservation form and parting with 1K deposit.
It took the builder 2 weeks to send draft lease and sale documents to our conveyancer.
Plenty of holes and missing points in lease which has taken a while to sort out and gaps in correspondance (each solicitor/conveyancer blaming each other at the moment).
Received acceptable new lease this Wednesday, we went in signed last night.
Builder now demanding complete today otherwise will pull flat from the sale.
We have arranged and paid deposits for wardrobes, carpets etc so that can be fitted on completion.
Completion today not possible at all, will take at least 3-4days to pull funds from mortgage lender.

Main question - can they really do this? What do we stand to lose? and if they really pull out - should we pursue them for the loss of desposits etc?

This should have been an easy purchase - now turning into purchase from hell!

AMILLIONDOLLARS

What will be, will be, seems like your builders are trying to use bullying tactics to get you to complete. Are you a cash buyer? Did you have a full survey done. As they are the ones pulling out you should get your £1k back.

AMD

arrow2001

I wish we were a cash buyer but no, unfortunately not, we cannot fathom how they expect the solicitor to draw the cash from the mortgage lender same day, it will take approx 3-4 days for that to happen.

We have thought it bullying too. It has been non-stop pressure from start to finish, but we are really glad we didn't use their solicitor otherwise I would hate to think what could have been brought up at a later date!

As you say, what will be will be. Think I have calmed down a bit now.