Advice please!

VicksLester

Son and DinL were at the point of exchange on a house 4 weeks ago. It had been quite a long process as there were a number of issues that had to be resolved on the purchase property before the mortgage could be released and an indemnity against certain aspects also had to be agreed. Sellers had already had 2 purchases fall through for similar reasons. The sellers then announced they were no longer selling as a problem with the drains had become apparent and pulled out on the day exchange was to have taken place. As a consequence son & DinL lost their buyers. This house has now gone back on the market with a different agent at a higher price. Is this ethical? My son is, naturally, considerably out of pocket and we wonder if we do have any recourse? Any help gratefully received

walwyn1978

Ethical no.

If they've not exchanged contracts, no, there's nothing they can do.

Sorry :-(

Surrey_EA

Despite the costs your son and daughter in law have incurred they have no recourse for those costs to be refunded.

I would suggest speaking to the original EA who was handling the sale of the property, and asking them to make contact with the seller to establish whether the seller is willing to consider selling at, or close to, the original agreed price. If they are there may be a chance your son's original buyers can be persuaded back.

Before an exchange of contracts has taken place either part is free to withdraw for any reason, without compensating the other side for their expenses.