Is there anything we can do?

Lisa1978

Back in July we sale agreed on a house. We knew the couple were going through a separation (I know the seller and she told me when viewing), however I didn't expect their to 'be additional issues that they need to make a compromise on and which they are finding it difficult too' (words of my Estate Agent this afternoon after speaking to their solicitors).

To date we have paid the surveyors fees. Can we reclaim these or are these 'lost'?

We are thinking of looking elsewhere. Possibly we are being hasty but we have a 5month old and in an apartment, we have the deposit sitting in a bank account and really want moved out by Christmas and before I return to work full time!

Thanks

caeler

Discuss your concerns with your EA, explain your desire to pull out if they can't reach an agreement. It might speed things up.

I assume it is all to do with the proceeds of the sale. Ultimately this doesn't need to hold up a sale (assuming that is still what both parties want), the solicitor will hold on to proceeds until such time as they receive a consent order authorising the split.

Might this be only one party actually wants to sell?

TBagpuss

Until you exchange contracts, either party can pull out for any reason, so no, you can't get your survey or others costs back.

As Caeler says, if the issue is that they can't decide on how to split the net proceeds of sale, this need not hold up a sale (the proceeds could be held by their solicitor until they reach agreement) but in practice it may be that they/one of them can't afford to move out without getting their share of the proceeds of sale in which case they may be unwilling to go down that route.

It is definitely open to you to give them an ultimatum but you would need to be prepared to walk away if they can't meet it.

Yorkie1

Commiserations.

It is not unusual for there to be more complications with sellers who are divorcing / splitting up, because they may not be in an amicable place and thus prepared to agree easily on other stuff e.g. what to leave behind on the fixtures / fittings etc.

As others have said, you have to be prepared to look elsewhere and walk away if you start making noises along these lines to the EA.

Being realistic, it's only 8 weeks until Christmas Eve and I consider it highly unlikely that you'll be in a new place (i.e. not the one under offer) before Christmas if you start looking elsewhere now.

If you haven't had the survey done you might be able to halt the process pending change of property, but if it's been done then you definitely won't get any money back.

highguyuk

Whether you pull out or not is a decision only you can make, but as Yorkie mentioned, at this point it is now highly unlikely you'll be in a different property by Christmas whereas there is a chance with this one.

If I were you, maybe start having viewings of other properties so you're not completely cold to the market so if you need to back out, you already have another one lined up as a reserve.

agrinnall

You could buy my house and move in well before Christmas, but that's probably true of pretty much any property for sale in Scotland.

Lisa1978

Thank you everyone. The lady has already choose a house to move too, therefore I believe it to be the husband who possibly doesn't want to sell. He hasn't signed the papers to sell the house. He works abroad which adds to the issues as isn't available!

I understand about the possibility of not getting to move before Xmas if choose somewhere else. Like the thought of using it as an Ultimatum however don't want to cut off my nose as a great house for a bargain! Will sit tight! Thanks

Yorkie1

Given the extra information about the husband, I'd prepare yourself for quite a few 'waits' ... if it's a house worth waiting for (and it sounds as though it is), then simply get your head round the idea that it will take longer than you think.

Keep an eye on when your mortgage offer expires though, and there's no harm in getting your EA and solicitor to make enquiries about when the husband will next be in the country or making alternative arrangements to sign paperwork.

Lisa1978

Thanks Yorkie. I believe the house is worth waiting for. Is costing us less for a 3 bedroom detached with conservatory and garage than it did for our current 2 bedroom apartment. I have scoured the market again today and took a drive around but nothing close to it. The main thing is the privacy it has. There is a big green infront of it with sea views over the whole of Belfast Lough - not many other places would have this for the price. I must be patient!!!

Good idea on checking when mortgage expires, however we are in negative equity (bought apartment in 2008) therefore not any options out there!

Thrugelmir

Lisa1978 wrote: »

however we are in negative equity (bought apartment in 2008) therefore not any options out there!

Possible then that your vendors face similar issues........

saverbuyer

I can't believe this poster is taking on even more debt. They are already in 40k in negative equity on two properties and they want to take on another.

I would see this as a sign to rethink your idea.

How do you expect to pay three mortgages when rates go up? You didn't even save the deposit, it was an inheritance.

Even using the 25k “deposit”, you still have negative equity. Will your bank even grant you consent to let?

This plan is crazy.