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

Gilly_VV

We are losing around £5K alltogether... that is best case if the people in the chain let us go as we signed a contract with them already...

sulphate

Gilly_VV wrote: »

I do not know what to say more... as someone suggested it costs only £3 to find out the term of the lease so why she hasn't checked it before making an offer if it is so so so important for her??? No honestly if it was a deal breaker for you would you have checked or not?

No we did not try to extract money from her we actually asked below market as we knew of the issue. Nothing also wrong with her being non UK (she is even non EU). That's the lesson for us if you are trying to be generous someone will come and take a free ride...

Are you serious?

Please take some responsibility for YOUR mistake.

And she will have been paying solicitors' fees not to mention the time she has wasted when she could have been looking at other properties.

rob404uk

She still has solicitor fees, survey fees, searches to pay. Might be 5-600.

neas

must admit its quite clear from all the posts the initial "I didn't know the term of the lease" is a lie for this forum.

As stating "we actually asked below market as we knew of the issue" means you were aware of the short lease... and asking for a lease extension that was 'crazy' meant you knew of the problem as well.

Its like me saying 3 bedroom house, two gardens and a garage.... then the buyers realise it has 1 garden and no garage... its just taking the mick.

I think she'd have a good case to pursue you for her loss of costs as you have lied on the property description.... I hope you are forced to pay the 'crazy cost'... or you have to stay in the flat and it becomes a 60 year lease :O meaning super crazy cost for extending

RAS

Gilly_VV wrote: »

No she did not pay no fees and did not suffer any loss as she's a cash buyer! Why everyone keeps repeating something that is not true!!!

She has a lawyer? So she has to pay all the costs that the lawyer has alreadyincurred finding out your lies?

She has had a survey done? So she has had to spend however much on the surveyors fees?

She has been to visit the flat? She may well have spent time and money on travel and accomodation costs both for the visits and possibly to get quotes, seek out furniture etc?

She will have paid out just as mnuch as you have on those fees.

The only fee you (may) have lost in addition is the mortgage fee.

moromir

Gilly_VV wrote:

No she did not pay no fees and did not suffer any loss as she's a cash buyer! Why everyone keeps repeating something that is not true!!!

If you are at the point of exchange she has paid 'fees', she will have paid several hundred pounds to her solicitors by now.

She has suffered a loss, the property market is going up in lots of areas, if she offers on a different comprable property now, it will likely cost her more than yours did, ergo she has suffered a financial loss.

patricia..xx

Whilst I have no sympathy with you as you couldn't be bothered to check the length of the lease, I think solicitors on both sides must bear some of the blame too. A copy of the lease which includes the term remaining would have been sent with the original contracts. If her solicitors did not make her aware, and she did not read it, she does also have to take some responsibility.


However, as an example, when we sold our flat with an extended lease it sold for £15k more than the bigger, better downstairs one which had just under 70 years to run. This was on flats valued at £100-120k to give you an idea of the price difference. It cost us £7k to extend it.

Next time you fill in a form which clearly states it is a legal document and if you don't know the answer you should say so - take that advice.

Gilly_VV

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.
She had a survey & all the searches done which came out excellent as the flat is very well looked after. The only thing is this lease typo on the information leaflet and now should it cost us our life plans?

moneyistooshorttomention

Gilly_VV wrote: »

No she did not pay no fees and did not suffer any loss as she's a cash buyer! Why everyone keeps repeating something that is not true!!!

So she hasn't had to pay out for:
- solicitor
- surveyor
- miscellaneous costs (all those bits and bobs, like travel/phone calls/etc)

Not to mention that you have played fast and loose with her time.

Have you not got a scrap of empathy for the poor woman (and the other people in this chain)?

If you kept making excuses like this for your behaviour to this woman during this phonecall with her I'm only surprised by now that she hasn't set the police onto you...but she's probably sitting there trying to tell herself that at least she's got a good few more braincells than some people she can think of....(won't give any clues as to who she might have been thinking of at that point......).

moromir

Gilly_VV wrote:

The only thing is this lease typo on the information leaflet and now should it cost us our life plans?

Forgive me for being confused but you seem to have gone from:

We had no idea how long the lease was and the estate agent said put 90 years so we did.

to

We knew it was a short lease so priced it cheaply.

to

Putting 90 years on the advertising details was a typo.

Which is it? I've given you the benefit of the doubt but you're trying even my patience now.