House flood after exchange of contracts but before completion

GDB2222

Roger_queen wrote: »

Jut another quick update....my daughter and her boyfriend have now signed a CFA with their solicitors . Tomorrow the vendors solicitors should definitely realise that were not 'all talk and no action'!.
Will keep you posted.

CFA = conditional fee agreement.

I'm curious about what the household insurers have contributed to this? They have put your daughter in touch with a firm of solicitors, who have probably paid the insurers a commission for getting the work. Anything else?

wanting_an_easy_life

What I love about this thread is that people have come in, throwing their small amount of knowledge around the thread, calling the OP (or his daughter) an idiot and telling him he has to go through with the purchase and so on.....

What looks like will transpire is that the OP's daughter will get their deposit back, the vendor will end up with a huge bill and trolls like thequant will toddle off somewhere else giving their unhelpful advice and opinion.

OP, I hope it all works out. It's very unsavoury and a shame. Either way, someone is going to be upset and very out of pocket.

GDB2222

wanting_an_easy_life wrote: »

Either way, someone is going to be upset and very out of pocket.

That's for sure!

One risk with a CFA is that you win the case, but the defendant has no money and can't pay your costs. At that point, you find out that you are liable to your own solicitor for double his normal costs. I bet that this has not been spelt out to the OP's daughter.

securityman

wanting_an_easy_life wrote: »

What I love about this thread is that people have come in, throwing their small amount of knowledge around the thread, calling the OP (or his daughter) an idiot and telling him he has to go through with the purchase and so on.....

What looks like will transpire is that the OP's daughter will get their deposit back, the vendor will end up with a huge bill and trolls like thequant will toddle off somewhere else giving their unhelpful advice and opinion.

OP, I hope it all works out. It's very unsavoury and a shame. Either way, someone is going to be upset and very out of pocket.

That's the the beauty of a internet forum, open to all opinions, right or wrong.

Roger_queen

Hi Guys, just to let you know,
Hi GDB32222 , I'm not that daft to enter into a usual ' CFA' ie no win no fee thing, and our solicitors are not a firm who we have ' been put onto' by our insurers!
My daughter and her partner have investigated fully the effects of what this whole case means.
At the moment we / they have in place :-
Case win= whole deposited + expenses back
Case lost= we loose deposited but insurance pays all solicitors costs + defendants costs
Case settled 'out of court'= the defendants will have to pay all our cost + settlement fee.
At the moment we ( my daughter and boyfrien, in brief US/WE,) are putting together the evidence for costs,
Will update you when there's more info.
Thankyou all for you're time...and patience!

ognum

Thanks Roger for your continued updates.

GDB2222

Roger_queen wrote: »

Hi Guys, just to let you know,
Hi GDB32222 , I'm not that daft to enter into a usual ' CFA' ie no win no fee thing, and our solicitors are not a firm who we have ' been put onto' by our insurers!
My daughter and her partner have investigated fully the effects of what this whole case means.
At the moment we / they have in place :-
Case win= whole deposited + expenses back
Case lost= we loose deposited but insurance pays all solicitors costs + defendants costs
Case settled 'out of court'= the defendants will have to pay all our cost + settlement fee.
At the moment we ( my daughter and boyfrien, in brief US/WE,) are putting together the evidence for costs,
Will update you when there's more info.
Thankyou all for you're time...and patience!

You haven't mentioned what happens if you win the case, but the defendants are skint and can't pay your costs. That was my point, and I think you should look into it.

Roger_queen

Hi,
We have looked into this, the deposit is currently in the vendors solicitors holding account, so that's safe. As for the our costs, if we win and the vendors have no money to pay scenario, this is what our solicitors have the CFA for. They have taken the ( I'm led to believe) fairly unusual step of taking the responsibility of reclaiming costs directly from the vendors.
Believe me, we have thoroughly investigated all angles and scenarios.
Thanks for your help.

Roger_queen

Another quick update....for any of you that haven't got bored yet!
Our solicitors have now sent all evidence etc to the court who will issue proceedings to the vendors and their solicitors in the next 2 weeks.
We got a letter from vendors solicitors yesterday saying that they were prepared to still sell the house to my daughter and her boyfriend!!!! Which part of 'us rescinding contract on Dec 8' did they not understand! We've sent back that they are free to sell the house to who ever they like now, but their solicitors are threatening to release the 17k deposit. We've now stated that we will apply for a freezing order if necessary.
That's all for now, will keep you posted.

Thrugelmir

Not bored in the slightest.

Keep us updated.