Vendor has pulled out of sale.....

dares_uk

*VENDOR HAS PULLED OUT*

Well yesterday we got some news from our solicitor, that the vendors solicitor has emailed and said the vendor is pulling out of the sale, no explanation. We are nearly at the end too...

After a few phone calls to the EA and the solicitor i am not hopeful.

Offer went in on the property on the 3rd Feb, our solicitors got a copy of the contract towards the end of Feb and replied with the first queries on Feb 28th.
In these queries was a question about another title deed mentioned on the charges on deed or similar. Eventually we got a reply and were told it was not relevant.
This later turned out to be a mistake! When we personally got copies of contract and searches we noticed the boundary was wrong, a piece of land a bit bigger than a garage was missing. After solicitors going back and forth and doing a land index search, turns out this land was on a separate title for some reason. So new contract would need to be made.
No reason to say why it wasn't included etc..

It also took time to get our local search reply, and since getting that back my solicitor has had to raise a question with the council about a section 106 agreement to make sure its been complied with and paid. (STILL WAITING FOR THIS)

Another delay, and no help from the vendors solicitor, was the rear boundary / retaining wall.
The vendor sold a piece of the rear garden for it to be developed on. They built a retaining wall. Although in the original transfer it states the original land has a right of support, there is no mention of who is responsible in the deeds of the new properties that have been built.
And if the developer sells or goes out of business we wanted some clarity on the matter.
The vendors solicitor gave a short hand written note in the margin as a reply, This was then sent to our lender.

We have since been waiting and still waiting for our lender to reply if they are happy.
They have sent it to the valuers again.

There is no chain, we are FTB, and the property is empty.
The vendor is a business man with many properties.

Do you think he is being unrealistic, spontaneous, pushy, ?

Do you think we could still rescue the deal?

Any advice?

obviously if we end up loosing the house, we loose a fair bit of money too

There is more details... like covenants etc.. we had to get checked,
exposed man hole columns exposed etc.. we had to get the water company to check
etc...

The_Logans

You should change the title of the thread to 'vendor has pulled out of sale'.


Pushy/spontaneous in what way? Is he asking for more money? Have you reduced your offer in light of the issues uncovered? What does your solicitor think he is trying to achieve?

dares_uk

sorry, my mistake, cant seem to edit the title though, ?

no not asking for more money,
spontaneous, as in pulling it, no reason, etc..
not reduced offer,
i presume because its taking time. just want to exchange/ complete
solicitor has not commented on reasons, etc..
does this happen a lot ?

my wife thinks he hiding something, trying tog et away with keeping the little bit of land,
or maybe he has not paid the sec 106 agreement, which would mean its passed on to us.

Surrey_EA

The title should be vendor/seller pulled out - you're the buyer!

Difficult to say, I think you need to pose these questions to the EA and find out what the reason is behind the sellers decision.

dares_uk

yeh im trying to get stuff done.


Do you think the vendor is trying to hide something?

The_Logans

dares_uk wrote: »

yeh im trying to get stuff done.


Do you think the vendor is trying to hide something?

I doubt anyone here can answer that. You need to establish if he truly has pulled out from the sale or if he is attempting to pressure you to complete.


If he has really pulled from the sale then the reason is irrelevant. You can't force him to sell to you.

always_sunny

If you're in England/Wales, both parties can pull out of the sale no question asked before exchange.
It is tough though you are better move on, hoping to rescue the deal will not get you much I am afraid.

dares_uk

yeh i know ppl can legally pull out.

just a f#@k after 2 1/2 months.... + now loosing money
especially being FTB.

just heard, even if we were ready today he still wouldn't sell,
he is going to rent it again by the sound of it.

took us 7-8 months to find this property that was affordable to us and fitted our requirements.
:(:(:(:(:(:(:(

cloo

Yes, sorry there is nothing you can do, and they're under no obligation to tell you anything and it sucks, especially when you get your solicitor's bill, I'm afraid. But it happens to a lot of people - hope you can find something else soon.

Marktheshark

I would say failure to get the deposit paid has caused this.
Experienced sellers leave the property on the market until the deposit is paid, someone will have comer along with a solicitor a bit more on the ball.

The house was "for sale"

Surrey_EA

Marktheshark wrote: »

I would say failure to get the deposit paid has caused this.
Experienced sellers leave the property on the market until the deposit is paid, someone will have comer along with a solicitor a bit more on the ball.

The house was "for sale"

The deposit is only paid when exchange of contracts take place.

It sounds rather like the seller has changed their mind about selling for one reason or another, not that someone else has come along.

Experienced sellers or not, once a seller has accepted an offer the property must be marked as sstc/under offer, or consumer protection regulations will have been breached.