Bossy buyer

silvercar

puddy wrote: »

isnt that fraud?

You can agree a price + fees if both parties are happy with that.

Ideally you would put that in the contract to cover yourself.

Easylife_3

I wish we'd done that but we didn't. So, it is going back - lucky them - but do they have good grounds to force it?

theartfullodger

You became an accomplice to defrauding the Mortgage company :probably criminal.
That should have told you you were dealing with a fraud merchant - many people would say crook.


And you realized he was a bully also?

Any you agreed to all this????

You deserve all you get. But the buyer is a bigger crook.

Easylife_3

In these times, selling is selling - but thanks.

silvercar

Easylife wrote: »

I wish we'd done that but we didn't. So, it is going back - lucky them - but do they have good grounds to force it?

Depends how honest they have been about it. On the face of it, they can produce emails showing you agreed to refund the excess, so they can show that you had a contract.

If they didn't declare it to their mortgage lender it shouldn't matter because they are putting more money into the deal than the lender expected - so wouldn't effect the amount of the loan.

If they didn't declare it to their solicitor, then he may be concerned that it is stamp duty evasion. I don't think its illegal as the amounts sound reasonable. If they had offered you say 10k extra to cover fees with no refund then that would be clear evasion. But as they are paying for set legitimate items at the price set, I doubt its fraud.

So whether they can go to court?
They can. But they risk having to go public on their plan to reduce stamp duty. It isn't illegal, so no harm to them in doing so, but its whether they want to expose themselves to that.

If they didn't tell their solicitor, I doubt they would want to do so now.

silvercar

theartfullodger wrote: »

You became an accomplice to defrauding the Mortgage company :probably criminal.
That should have told you you were dealing with a fraud merchant - many people would say crook.


And you realized he was a bully also?

Any you agreed to all this????

You deserve all you get. But the buyer is a bigger crook.

I'm not sure that it is fraud. Had they not tried to be clever/crooked would the lender have lent them the money is they key question. As they were paying out more themselves, the answer would be yes.

TonyMMM

Didi you have your own solicitor involved in the sale - if so what did they advise about it (I assume you told them ) ?

silvercar

Easy numbers assumed.

price agreed is 252k which would lead to SDLT of 3% instead of 1% so an extra 5k. They haven't got that so instead they pay 250k and give you 2k cash. I don't think that is illegal. They declare to the mortgage lender they are paying 250k and may or may not have mentioned the 2k cash.

Its not like you are paying them back any more than they gave you. So not like you are giving them cashback on the deal which should be declared.

Easylife_3

So they should be happy it is coming back, belt up and be patient........and from the moment it happens, ignore each other forever

Easylife_3

Also. Not free are they solicitors - go see them, send a letter....money comes anyway! Not me paying that solicitor.