House sale possibly fallen through?

darlopaul

Hello, I am a cash buyer of my first house.
I found a a property I found suitable for myself, made an offer which was accepted. I was given a completion date and paid the money as requested. On the completion date I was given the keys and I thought that was it! I started working on the house, gutted the full place out so it was a blank canvess for myself. However I got a phone call requesting the keys back due to there being a problem with the sellers redemption figure. He explained the bank wouldn't lt him sell it for the price which was agreed due to him having a few houses on the same mortgage. I have been waiting a week now and my money is being held, The seller doesn't know i've gutted his house (which was a wreck anyway) and I have put a deadline on the sale. I've asked them to give me a completion date by 5pm tomorrow if not I will be pulling out the sale (which I don't want to do). What could happen if he goes back to his house to find i've removed the kitchen and bathroom? Can I change my mind on pulling out the sale if a deadline is not met? I really want the house but I feel like i've been taken advantage of. Thanks in advance

DUTR

What did your solicitor say on the matter?
They do checks n stuff before contracts are exchanged.

darlopaul

He hasn't replied, I faxed him the letter this morning. But it seems when I speak on the phone with him he just makes up excuses after excuses. But I think the sellers solicitor/mortgage lender may be at fault here?

G_M

You do not make sense.Please clarify:

darlopaul wrote: »

Hello, I am a cash buyer of my first house.
I found a a property I found suitable for myself, made an offer which was accepted. I was given a completion date and paid the money as requested. On the completion date I was given the keys and I thought that was it!
So you have Exchanged Contracts?
AND you have Completed?
I started working on the house, gutted the full place out so it was a blank canvess for myself. However I got a phone call requesting the keys back due to there being a problem with the sellers redemption figure. He explained the bank wouldn't lt him sell it for the price which was agreed due to him having a few houses on the same mortgage. I have been waiting a week now and my money is being held, The seller doesn't know i've gutted his house (which was a wreck anyway) and I have put a deadline on the sale. I've asked them to give me a completion date by 5pm tomorrow if not I will be pulling out the sale
How can they 'give you a Completion date' if you have already Completed?
(which I don't want to do). What could happen if he goes back to his house to find i've removed the kitchen and bathroom? Can I change my mind on pulling out the sale if a deadline is not met? I really want the house but I feel like i've been taken advantage of. Thanks in advance

Are you using a solicitor?

* If no, it appears you made a bad error since you clearly donot understand how to do conveyancing.

* if yes,
i) what does he say?
ii) have you really 'Completed'?
iii) you say you paid the money, but to who? your solicitor? Or the seller?
iv) has the Land Registry Transfer been sent to the Land Registry, signed by the seller?

* Did the seller's solicitor give your solicitor a 'Solicitors undertaking' to pay off the existing mortgage & remove the Charge on the property?

OR (as I now suspect)...

have you not yet Exchanged, have simply passed money to your solicitor, and made an informal agreement for the keys to be given to you for some unspecified reason, and then stupidly decided to gut someone else's property!

And why are you communicating with the seller - he has a solicitor who is responsible for the conveyancing (even if you rashly decided to DIY!), so talk to the solicitor!

Guest101

All sounds rather fishy, but this could be the sellers solicitor messing up too

Thrugelmir

darlopaul wrote: »

He hasn't replied, I faxed him the letter this morning. But it seems when I speak on the phone with him he just makes up excuses after excuses. But I think the sellers solicitor/mortgage lender may be at fault here?

What did your solicitor actually say?

Your the one who appears not to understand the purchase process.

darlopaul

Guest101 wrote: »

All sounds rather fishy, but this could be the sellers solicitor messing up too

I am not in contact with the sellers solicitor so I can only assume they are at fault

darlopaul

Thrugelmir wrote: »

What did your solicitor actually say?

Your the one who appears not to understand the purchase process.

My solicitor just tells me he's chasing up the sellers solicitor.
And correct I don't understand thats why i've come here for myself, its the first time i've purchased a house.

darlopaul

G_M wrote: »

You do not make sense.Please clarify:


Are you using a solicitor?

* If no, it appears you made a bad error since you clearly donot understand how to do conveyancing.

* if yes,
i) what does he say? My solicitor is extremely unhelpful, he tells me he will chase the other parties solicitor up and get back to me.
ii) have you really 'Completed'? I assumed contracts were exchanged due to me being told by the estate agent to come and collect the keys.
iii) you say you paid the money, but to who? your solicitor? Or the seller? Yes I've paid my solicitor
iv) has the Land Registry Transfer been sent to the Land Registry, signed by the seller? i'm unsure if this was completed or not.

* Did the seller's solicitor give your solicitor a 'Solicitors undertaking' to pay off the existing mortgage & remove the Charge on the property? No I wasn't made aware or this
OR (as I now suspect)...

have you not yet Exchanged, have simply passed money to your solicitor, and made an informal agreement for the keys to be given to you for some unspecified reason, and then stupidly decided to gut someone else's property! I gutted the property because I'm in rented property and i've handed my notice in for the end of the month.

And why are you communicating with the seller Yes I am communicating with the seller, the seller works for the estate agent I am buying the house from- he has a solicitor who is responsible for the conveyancing (even if you rashly decided to DIY!), so talk to the solicitor!

Hope that helps you understand my situation a little bit better.

duchy

Have you actually paid anything more than a deposit ?

darlopaul

Scrootum wrote: »

Are you sure you have completed?

I only could assume that I had because the estate agency/seller (the seller works for the estate agency) released the keys.