Help! Just about to loose 26k on deposit on new flat - advise please

grey_lady

Let us know how you get on with the solicitor this afternoon, take along any paperwork you have.

Hopefully they'll be able to get you out of this.

mynameisdave

Any news??

dopester

silvercar wrote: »

You want the 16k back for the Liverpool/ Bradford deposit. By back I mean straight to your bank account, not a deposit on a future purchase, not a credit note, real money into your bank account.

You also want out of the Edgware deal. You were wrongly advised as to (a) the value of the property and (b) the safety of exchanging with no mortgage offer and (c) being signed up to a contract that you could assign elsewhere when your stated intention was to sell on before completion. Whether that was the solicitor, the developer, the IFA or whoever, they were all in cahoots together and know they pulled a fast one. You need an independent solicitor to extracate you from the deal.

Personally I would be relieved and happy to find a professional confident to sort this for you and wouldn't be looking at suing.

Want to explain to me what a "professional confident" is, and what they do to extricate people from deals?

Contracts people have gone after their own research and whatever advice they chose to take.

Can't have anyone suffering negatively from consequences of their own poor decisions to enter a contract in your world it often seems to me.. if the other side is a developer/business ect. Can have them enjoying all upside of their risks though can't we, when gambles pay off.

silvercar

silvercar wrote:

Personally I would be relieved and happy to find a professional confident to sort this for you and wouldn't be looking at suing.

dopester wrote:

Want to explain to me what a "professional confident" is, and what they do to extricate people from deals?

A professional person who would feel confident in sorting out the mess. ie one who could get you out of the deal on one of these 3 grounds:

You were wrongly advised as to (a) the value of the property and (b) the safety of exchanging with no mortgage offer and (c) being signed up to a contract that you could assign elsewhere when your stated intention was to sell on before completion.

ie the advice you paid for at the time was dodgy.

dopester wrote:

Contracts people have gone after their own research and whatever advice they chose to take.

If you pay people to advise you and they fail to point out the legal pitfalls then, should you rely on their advice, they are liable for the consequences. If you do your own research then you take responsibility for your actions. If you pay someone to avise you then they are liable for their actions. That is why professionals have indemnity policies, to pay out in the event they get things wrong.

Thrugelmir

simyboye wrote: »

Sorry, going bankrupt? Why?
Got a solicitors appointment tomorrow at 1400

The OP has gone very quiet. (Appointment was Wednesday).

citizen11

I can't believe this is true unless the OP had some kind of windfall to get the deposit in the firstplace. It would be unbelievable that this money was scrimped and saved over years and years on a low salary then spent without a jot of due diligence.

Thrugelmir

Spam reported again.

If you wish to make a point then post sensibly. Ruining other peoples does little to encourage people listen to you.

moneysaymoneydo

Hi Ho Hi Ho its back to Priory for Capstone they go

SPAMALOT CITY!!!!!!!:j

happywarmgun

Guess there was no joy

carolan78

simyboye wrote: »

I've just rung to find out about bradford. I cant pull out because I was issued a credit note from littlewoods manchester. However, I will have to put that 16k deposit down on any urban splash development.

I didnt sign ANY document to say I wanted bradford. So waiting to hear from the solicitors to see if I can go elsewhere. Leeds - richmond hill looks better. No drugs or prostitution issues there. Hopefulyl?!

My gut tells me this is a wind up but if not then I wouldn't invest in any new build in Richmond Hill. I have lived in Leeds all my life and love it but with all cities theres good and bad areas....and that is just bad.