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How much will it cost then to pull out?

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Charliezoo
Charliezoo Posts: 1,732 Forumite
edited 16 September 2010 at 1:33PM in House buying, renting & selling
We accepted an offer from ftbs in July and things seemed to be running smoothly with us expecting to exchange soon. The buyers are asking some very unusual questions, it's a modern house in a modern development and it should be a relatively straightforward process but they seem to be digging up various issues which our solicitor says are so minor he's surprised they're so concerned about them. We only bought the house a couple of years ago and they were issues that were highlighted but dismissed quickly by our solicitor back then but they seem to be being blown out of proportion a bit.

We understand that they're bring cautious but we're beginning to worry that they might back out. It's been about 3 months since the offer was accepted so the survey, etc has all been done.

How much would they be set to lose by backing out now?

Comments

  • sonastin
    sonastin Posts: 3,210 Forumite
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    whatever they've paid so far in solicitor's fees, mortgage arrangement fees and surveyor's fees...
  • penguingirl
    penguingirl Posts: 1,397 Forumite
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    I guess the cost of their survey plus conveyancing. We nearly pulled out of our purchase last year (vendors were continually delaying exchange for months) and reckoned it was about £1000.
  • beccad
    beccad Posts: 315 Forumite
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    Not much if they haven't exchanged. FTBers can be very nervous, understandably so seeing as it's all new to them and is the largest purchase they're ever likely to make.
  • firstaspect
    firstaspect Posts: 487 Forumite
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    I'm currently going through a purchase and if I pulled out now it would have cost me around £700.
  • Person_one
    Person_one Posts: 28,884 Forumite
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    firstaspect wrote: »
    I'm currently going through a purchase and if I pulled out now it would have cost me around £700.

    If I pulled out of mine now it would only cost me about £300, but then my solicitor is very nice and probably unusual.
  • fraser
    fraser Posts: 277 Forumite
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    if we pulled out it would be circa £2000 - all depends on the size of the property
  • Ankatden
    Ankatden Posts: 162 Forumite
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    They may have a problem obtaining a mortgage so worthwhile for you sols to confirm they have one.
  • Doozergirl
    Doozergirl Posts: 33,855 Forumite
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    Is it them or their solicitor?

    Is it worth asking if they want another viewing, see if you can iron out any creases?
    Everything that is supposed to be in heaven is already here on earth.
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