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Vendor withdraw after exchange?
filbrit
Posts: 50 Forumite
Hi there
As a buyer after exchange we have to complete otherwise if we withdraw after exchange we can lose our deposit.
But what happens if a buyer withdraws after exchange of contract? Are they liable for anything? Do we as buyers have any right?
Many thanks for your advice
As a buyer after exchange we have to complete otherwise if we withdraw after exchange we can lose our deposit.
But what happens if a buyer withdraws after exchange of contract? Are they liable for anything? Do we as buyers have any right?
Many thanks for your advice
0
Comments
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Yes, It will be a breach of contracts & you can sue the vendor for costs, especially as often a deposit is paid on exchange.
It's rare it happens, so try not to worry about it happening to you.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
OP, you have another thread on this earlier. Would it be more helpful to post again that thread?0
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Read the Welshwoofs thread which is extremely lengthy but very interesting:
http://forums.moneysavingexpert.com/showthread.html?t=1806123&highlight=0 -
Do you mean vendor (seller)? You can sue them for breach of contract and claim damages and costs, or you could potentially sue for specific performance which will force them to complete the transaction.
Yes sorry. I meant vendor/seller withdrawing after exchange. More specific just worried the won't complete on completion date as it seems their new build they will be moving too and won't finish on time of date of completion.0
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