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Am I liable for fees etc. if I'm gazzumped?
san09
Posts: 74 Forumite
Hi all,
Just wondering if I'm still liable for cost and fees if I'm gazzumped?
Just wondering if I'm still liable for cost and fees if I'm gazzumped?
0
Comments
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Yes, you are liable for anything you've already paid (survey etc.) your solicitors fees for their time up to that point and if you've paid a mortgage application fee and received a formal offer you are usually subject to a penalty if you do not then take up the mortgage. Is one of the worse things about losing a purchase, not only does it break your heart it hits you in the pocket.Officially in a clique of idiots0
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Unless you are in Scotland I believe.....0
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Wow, how unfair is that. I know this isn't the fault of the bank and sols etc so they shouldn't be out of pocket, but did think there may be some ground for reclaiming off the vendor.
I'm abit worried this may happen to us as we have had our offer accepted and are starting the ball rolling with the sols and bank tomorrow, however a 2nd EA still has the house for sale.0 -
I would suggest you make it a condition of your offer that the property is removed from the market by all agents and make sure they do that before you have your survey.
I know nothing about the Scottish legal system which is different as G_M says.Officially in a clique of idiots0
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