property repossessed prior to completion

propertybuyer

I recently negotiated a purchase of a property at £540k two days later the vendor stated he would keep the property unless I offered £595K and exchanged and completed within three weeks. When it came to handing over the keys the vendor had to get the locks changed to gain entry and on entering the services had been isolated and taped up do not use. A few days later a letter arrived confirming the property had been repossessed prior to completion, had I known I would have negotiated nearer my original offer of £540k. My solicitor was unaware of the repossession and the bank debt paid and remaining funds sent to the vendor. Are there any grounds against my solicitors the vendor’s solicitors or the vendor to recuperate some of the funds I could have saved had I had the chance to negotiate a lower purchase cost with the bank, if so from whom? PS £540k was a reasonable market price for the property at the time

pawpurrs

Of course not, no one forced you to increase your offer.

paddedjohn

Its your own fault for agreeing to pay £55k more than the agreed price, you could/should have said no and walked away.

ihatemyhouse

if it got repo why was he able to sell it to you, where did the money go and why didn't your solicitor know it had been repo

tBagpuss_2

So, you agreed a price and you paid the price you agreed. Why would you expect to claim any of it back?