Buyer pulled out of the property purchase last minute - what can be done?

Riggster

Gilly_VV wrote: »

No we did not EXCHANGE THE CONTRACTS with the next buyer and I have never said so. We signed a deposit contract putting a small deposit amount in to secure the deal and the sellers also did.

Well that was daft.

tim123456789

SnooksNJ wrote: »

I hope this non EU person isn't American because we love to sue.

only because (at home) you don't gets costs awarded against you when you lose.

but here you do :rotfl:

SnooksNJ

tim123456789 wrote: »

only because (at home) you don't gets costs awarded against you when you lose.

but here you do :rotfl:

That's good to know. I haven't had the opportunity to sue anyone yet so when I do find a sidewalk to trip over I'll make sure it it's one in really bad repair. :beer:

tortoiseshellcat

OP I think you just need to pay the £20,000 or whatever it costs to extend the lease and then sell it. I feel really sorry for the poor lady who wanted to buy your flat, how horrible of you to lie about the lease when that it such an important issue when buying a leasehold property.

Also no respectable EA would tell you to make up a figure for the lease because it's obvious it would come up on the property deeds and searches which no doubt the lady has already had to pay for, along with survey and solicitors fees.

Honesty is ALWAYS the best policy.

Guest101

Gilly_VV wrote: »

Ok I admit that the argument about middle aged was too harsh and unfair (I still cannot understand though why someone without dependents should be annoyed with the property rights which are clearly sufficient for the lifetime).
And of course I will not report her anywhere. I got her phone number from the agents trying to discuss amicably but she did not listen at all and started crying and shouting.
We are losing ££££ I am afraid so of course I am emotional!

You're preganant? god help your kids!

hope she reports you to the police for harassment and they throw the book at you!!

_Andy_

Don't pander to the troll.

kai666

Gilly_VV wrote: »

Ok I admit that the argument about middle aged was too harsh and unfair (I still cannot understand though why someone without dependents should be annoyed with the property rights which are clearly sufficient for the lifetime).
And of course I will not report her anywhere. I got her phone number from the agents trying to discuss amicably but she did not listen at all and started crying and shouting.
We are losing ££££ I am afraid so of course I am emotional!

If I was the buyer I would also be onto the estate agent for data protection and giving out my phone number

dodger1

Gilly_VV wrote: »

OK so what as if she did not know she may lose it or as if someone forced her to pay. Can you please stop making a monster out of me (it's entertaining I see). We are a victim in this case not the abuser.

You are a victim of your own stupidity, nothing more nothing less, time to accept it, learn from it and move on.

fart

I'm glad you got stung, your opening post is disgusting:

saying the buyer refused to go forward (we were to exchange contracts in a couple of days) because of the lease term discovered in some registry being just below 70 years!!! That is just ridiculous as we were never certain about our lease term and were advised to put something in the description form so we put down 90 years not to leave blank & it looked more attractive to the buyers...

Tough. That's YOUR fault.

The price we asked was at the lower range as we were so eager to move sooner... So now we are suffering because of something that easily could be a typo!

Your problem, not the buyers.

The buyer was a middle aged single woman with no kids (i.e. no inheritance) so she obviously should not be concerned if it is 70 or 90 years left as she is in any case not going to live long enough to see it running out!!!

Disgraceful.

It's like someone agreeing to buy your car, going to get the cash out, but then finds out before handing it over that you told them there was 90k on the clock when there's actually 110k on the clock. And then YOU have a go at THEM? You need to wise up OP.

Also i've just noticed you enquired about lease extension a couple of years ago? So you knew full well how long the lease was and put 90 years hoping the buyer didn't notice in other words.

It's YOU who should be reported because i'm pretty sure that is some sort of fraud.

Katgrit

Gilly_VV wrote: »

We are a victim in this case not the abuser........The only thing is this lease typo on the information leaflet and now should it cost us our life plans?

It wasn't a typo though was it? You knew you had a short lease as you had enquired about extending it. You knew it would cost a shedload to extend. You chose to lie about it on the documentation. Whilst you might have priced your house low to compensate for this, your buyer was unaware - how can she take into account the "bargain" price of your house if the information she had at the time didn't indicate the lease was a short one?

So now she DOES know. You think it shouldn't matter because she either won't have anyone to leave it to, or will see out her twilight in your flat. You think shes being unreasonable because her pulling out has spoiled your life plans. Consider these two possibilities:

1. Your middle aged buyer wants to leave all her money to a relative/cats home. She has planned, and saved, and worked her way up the property ladder being careful with her pennies knowing that her sense with money over the years has put her in good stead. White sitting sipping her cocoa at night she feels reassured to know that after her death from old age, tucked up in her (your) flat, her neice/the cats home will benefit from what she earned during her lifetime.

2.Middle aged woman fancies buying your flat for 10 years or so, then selling it off to buy a big harley davidson and going travelling round europe in her prime taking in the sights, smells and wonderful cultures of our amazing earth. She'll send postcards of her adventures back to her neice, glad that she can now live her life simple and free. She might join a kibutz or a hippy commune, or work in africian schools for an overseas charity. She wants to put off growing old for as long as possible and squeeze every last drop out of life.

In either of these scenarios she doesnt want a flat thats not worth the paper its written on. She wants her house to be worth as much as possible. And YOU being complete £u¢kwits have decieved her. YOU have now messed up HER life plans. YOU have now cost HER money on fees and searches. YOU have got her hopes up about finding a new home and YOU have dashed them. YOU have been the one in the wrong. Do you understand this?