*** Urgent Advice - Dream Property is back on the market

GAH

Thats the penalties for not proceeding with the property after exchange.

What they and the solicitor were doing exchanging before a mortgage offer in place is beyond madness.

27col

How can you say that you were gazumped when the vendor sold for the same price that you offered. Surely, gazumping involves accepting a higher offer.
In any case, now would be a good time offer less than the price the vendor is asking.

Io07

thanks for the quick replies

This property was already a "good buy" for £500k and there were 2 others (apart from us) willing to offer him the full amount, so the B's probably felt a bit of pressure to secure it.:think:

kingstreet - Will ask solicitor for written confirmation of sale cancellation, hadn't thought of that!

Any way that B's could sue vendor/ us later??

Io07

and not really wanting to try for a lower amount - vendor we know will refuse - and its too much heartache if we lose a 2nd time!

GAH

IF you are happy paying that 500k, Go for it, Good Luck hope all goes well.

GDB2222

Io07 wrote: »

Any way that B's could sue vendor/ us later??

No.


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SilverSix

27col wrote: »

In any case, now would be a good time offer less than the price the vendor is asking.

I imagine the vendor is holding a chain up whilst he waits to find a replacement buyer. Unless they have already secured their new property or this is a second property they are selling and don't live in.

In which case they may well accept a lower offer for fear of loosing their next purchase, assuming they are making one.

I imagine they're probably having a money fight with the free £50k they just got for doing sweet F A! :rotfl:

GDB2222

Assuming the vendors have contracted to purchase somewhere else, they may have lost their deposit on that themselves. Or they may have taken out bridging finance. Either way, the £50k is not just free money. If they have an expensive bridging loan, they may consider a price reduction if you are in a position to move fast.

Io07

thanks guys!

vendor isn't buying another property, we are pretty sure of that. he will give the B's a chance to complete, dunno what to think, fair i suppose.

wish us luck!

myhouse_2

Giving a 50k deposit before you know if you can afford it is madness, and therefore probably not true. Possibly the EA is hiding the fact that the survey came up with issues or some other story