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Exchange not completed, purchase fell through.

2

Comments

  • lee111s
    lee111s Posts: 2,987 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    harv123 wrote: »
    no that is not possible. The developer remarketed this property this morning and is now sold. that is the reason why im on here trying to get advice for this further.

    It's not sold, not until contracts have been exchanged and completion had taken place. It's in the same state it was in last week when you had a sale agreed.

    However I fear that if they've accepted an offer of an additional £120k then they'll proabbly be happy for the other person to carry on woth the purchase rather than selling to you.
  • Annie1960
    Annie1960 Posts: 3,009 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Freecall wrote: »
    £120k more, wow!

    Some people pay that for a whole house.

    :eek:

    I suspect this is a case of a missing comma which changes the meaning.
  • harv123
    harv123 Posts: 8 Forumite
    Annie1960 wrote: »
    I suspect this is a case of a missing comma which changes the meaning.


    that was my mistake the price actually increased by 150k (hundred and fifty thousand).
  • I_have_spoken
    I_have_spoken Posts: 5,051 Forumite
    edited 7 June 2014 at 6:22PM
    the price actually increased by 150k

    To be split 50:50 with your solicitor for scuppering the original sale, cash-in-hand?
  • harv123
    harv123 Posts: 8 Forumite
    I_have_spoken wrote: »
    To be split 50:50 with your solicitor for scuppering the original sale?


    obviously possible, which is why i want to know what i can do about this, because it should not be that simple for me to be in this situation left alone on my own with 8 months wasted ...
  • Annie1960
    Annie1960 Posts: 3,009 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    I'm not sure I really understand your position.

    Your solicitor is claiming that one of the enquiries was not answered.
    The developer is claiming that all enquiries were answered.

    Do you know what this enquiry was? Did your solicitor say?

    You also say the price has gone up by £150k. This is an alarming amount. I'm in St Albans where prices are zooming up, but not by that much. Are you in London?

    I think the first thing you need to do is find out from your solicitor exactly what enquiry was not answered. As others have said, this could have prevented your lender from releasing funds. Once you understand this you can see how to take this forward.

    If your solicitor is correct, and an important enquiry was unanswered, I'm not sure there is anything you an do about it.

    However, if all enquiries were answered satisfactorily, then that is a different matter.
  • Sunshine101
    Sunshine101 Posts: 12 Forumite
    You can contact Trading Standards regarding the folk you were going to buy the property from and you can also complain to the Legal Ombudsman regarding your solicitors conduct.
  • harv123
    harv123 Posts: 8 Forumite
    Annie1960 wrote: »
    I'm not sure I really understand your position.

    Your solicitor is claiming that one of the enquiries was not answered.
    The developer is claiming that all enquiries were answered.

    Do you know what this enquiry was? Did your solicitor say?

    You also say the price has gone up by £150k. This is an alarming amount. I'm in St Albans where prices are zooming up, but not by that much. Are you in London?

    I think the first thing you need to do is find out from your solicitor exactly what enquiry was not answered. As others have said, this could have prevented your lender from releasing funds. Once you understand this you can see how to take this forward.

    If your solicitor is correct, and an important enquiry was unanswered, I'm not sure there is anything you an do about it.

    However, if all enquiries were answered satisfactorily, then that is a different matter.


    it was the unilateral notice on the lease.
  • tomtontom
    tomtontom Posts: 7,929 Forumite
    harv123 wrote: »
    it was the unilateral notice on the lease.

    What was the notice and what was the response to the query?
  • Annie1960
    Annie1960 Posts: 3,009 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    harv123 wrote: »
    it was the unilateral notice on the lease.

    Thanks for the response, but I have absolutely no idea what you mean by this!

    Hopefully someone else who knows about leases will be along shortly.
This discussion has been closed.
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