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Can I the seller pull out AFTER exchange of contract on my property?

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Comments

  • Mallotum_X
    Mallotum_X Posts: 2,591 Forumite
    Part of the Furniture Combo Breaker
    If money has been tight then how do you expect to find the thousands to get out of this?
  • buttonmoon
    buttonmoon Posts: 152 Forumite
    Part of the Furniture 100 Posts Name Dropper
    Mallotum somewhere in the thread it is mentioned that they just hot the house under the £250K stamp duty threshold. Therefore, WW got her deposit back plus costs plus £30k.
  • eddddy
    eddddy Posts: 18,174 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Hannsmith wrote: »
    Yes thanks, I did read this. Buyer settled on a 30k payment in the end but I am not sure what the purchase price and % reimbursement therefore was.

    Hi Hannsmith

    In practical terms, your best bet would be asking your solicitor to put the question:

    "Would the buyer consider agreeing to cancel the contract, and if so, what compensation would he/she require to cover costs etc."

    The buyer's answer might be £5k, or £50k or "no way".


    (Just refusing to complete without the agreement of your buyer could be financially catastrophic for you - it could bankrupt you. The damages aren't a % of purchase price, they are based on consequential losses.)
  • Mallotum_X
    Mallotum_X Posts: 2,591 Forumite
    Part of the Furniture Combo Breaker
    buttonmoon wrote: »
    Mallotum somewhere in the thread it is mentioned that they just hot the house under the £250K stamp duty threshold. Therefore, WW got her deposit back plus costs plus £30k.

    In the other thread rather than this one. My question is to the OP on this thread.
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