Court order to pay 10% deposit on purchase of house

gorygirl

im selling my house to a lady and her child who has been separated for 7 months from her husband , she is in rented and he is still in the marital home with his new partner. I have been told he is buying his wife out of the home so she can purchase my house , my estate agent tells me she cannot sign for my house as her husband hasnt given her the deposit to purchase my home and he has been given a court order to find the money with in two weeks which expires this friday. Im very worried this man doesn't have any money to give his wife but my estate agent assures me he would have had to have shown proof of money for the sale to get this far ( me having signed and now 8 weeks into the sale with no chain and they stating it was a cash sale ) any advice on this matter would be appreciated thanks

G_M

gorygirl wrote: »

..... but my estate agent assures me he would have had to have shown proof of money for the sale to get this far...

Rubbish! EA just desperate to keep the sale on track so telling you what you want to hear.

There is no guarantee, and divorce sales are renowned for problems for precisely this reason.

hcb42

all you can do is wait until Friday and see what happens

gorygirl

G_M wrote: »

Rubbish! EA just desperate to keep the sale on track so telling you what you want to hear.

There is no guarantee, and divorce sales are renowned for problems for precisely this reason.

so a person paying cash for the purchase of a house doesn't have to give proof of moneys until time to sign for that house ? is this what u mean ?

taxsaver

Absolutely, she has no need to prove to anyone (including her solicitor) that she has the cash. The only 'test' is whether or not she produces it at the required time. Obviously, most people won't go through all the legal and survey costs unless they genuinely believe that they will have the money availbale when needed.

DVardysShadow

This sounds like something to get confirmed via your solicitor, rather than taking your EA's word at face value.

spandles

I assume you have the 'under offer/sold' banner on your Rightmove entry. Get this removed and actively market the property again, just in case this turns nasty with the buyer and her ex.

Our EA posted the Under Offer banner the minute the sale was agreed. 3 months later when the deal fell through (buyers buyer pulled out) it was the end of the sunny season and there were no buyers to be had.

This situation could drag on for weeks in which time you would be missing out on other potential buyers if she has to back out. Once she has the money (get it confirmed) you can withdraw it from the market agin. It may also 'panic' her into chasing up the money with her ex and solicitor.

best of luck

DVardysShadow

spandles wrote: »

I assume you have the 'under offer/sold' banner on your Rightmove entry. Get this removed and actively market the property again, just in case this turns nasty with the buyer and her ex.

Our EA posted the Under Offer banner the minute the sale was agreed. 3 months later when the deal fell through (buyers buyer pulled out) it was the end of the sunny season and there were no buyers to be had.

This situation could drag on for weeks in which time you would be missing out on other potential buyers if she has to back out. Once she has the money (get it confirmed) you can withdraw it from the market agin. It may also 'panic' her into chasing up the money with her ex and solicitor.

best of luck

Act in haste, repent at leisure.

Although the advice above is not generally far wrong, if you have a buyer who is close to exchange, but who has a delicate struggle to get the ex to comply, putting the house back on the market right now could be a very bad mistake. This could leave the buyer quite needlessly feeling betrayed and, given the difficulties with the ex, so despondent that she cannot take any more, so she decides to pull out. Bear in mind that close to exchange, buyers and sellers are often quite fatigued and can do without straws being added to the camel's back.

The correct thing for the OP to do is to ascertain the situation and timescales for exchange via their own solicitor. Only if timescales are either not acceptable or not met should OP consider putting the house back on the market.

nomoneytoday

Maybe follow the above on Monday, IF Friday's deadline is breached?

nomoneytoday

Was this paid on Friday?

gorygirl

Nothing has been paid or signed , im stillw aiting on an answer as to what is happening , my solicitor just keeps telling me he cannot get hold of the buyers solicitor , im so confused , i just want to know what is happening and no one will tell me