Vendor Forced Me To Exchange - Help

Georgedunn

I!!!8217;d honestly appreciate if you wouldn't mind sharing the exact wording from your solicitor - and if they reference any of the regulations.

Thank you for your email.



There are provisions within the Contract which state that the Contract is conditional upon the buyers original mortgage offer remaining valid (or obtaining a replacement mortgage offer) prior to completion.



If you do not have a valid offer in readiness for Legal Completion, either you or the seller may terminate the Contract by serving notice in writing.



At this point, you will be entitled to the return of your deposit.



Please note, your mortgage offer is valid until 21st August 2018 and reservation form advising that build completion is estimated to be July/August 2018.

Asl77c

The one thing i would say is i don't see why it should be remotely relevant to them that you are a young person committing to a large purchase. That issue is yours to deal with and should have no influence on how they deal with you vs any other person in the same situation. You decided to make this commitment and you are that age, why do you feel that is something that they need to consider? I certainly don't think it is relevant if you are 21, 31, 41, etc.

bowlhead99

Georgedunn wrote: »

The e-mail was sent by my father, I just tried to (poorly) change it to first person for the purpose of this forum.

Fair enough. And don't take my post as a super harsh critique of the action you've taken - it just looks unprofessional and there are some things that with hindsight could/should have been omitted or included. And IMHO if *you* are the buyer, your letter will get less respect if it's from some relative saying 'please be nice to my son and give him some sort of incentive or apology'.

As you mentioned earlier you're probably on a hiding to nothing knowing that you chose to exchange because you ddn't want to risk losing out, and now you risk losing out due to your not being able to get a mortgage. None of that is a concern for the vendor, who can find another buyer. No point him giving you a free carpet or something.

There's no real incentive for the vendor to give you any incentives or sweeteners as you've already committed to pay him £x for the property as long as you can get a mortgage, and you do want the property and your dad's letter isn't even threatening that you'll deliberately fail to get the mortgage and thereby dodge completion at the last moment. Still, as someone else said: don't ask, don't get. But don't hold out hope either.

dibblersan

also wondering if your father will get into trouble if he's trying to intimidate a developer sending the email from his work address. I know that would be against the IT policy anywhere I've worked. If nothing else it looks a little sad his son is apparently old enough to buy a house but not to send an email without daddy's help...

Georgedunn

also wondering if your father will get into trouble if he's trying to intimidate a developer sending the email from his work address. I know that would be against the IT policy anywhere I've worked. If nothing else it looks a little sad his son is apparently old enough to buy a house but not to send an email without daddy's help...

It his own business, so I don!!!8217;t think he will get in trouble with anyone.

Is it sad? Or is it just a father looking to help out in an industry he knows a lot better than his son who is a first time buyer...

Again I!!!8217;m 21, this is the first time I!!!8217;ve done this, cut me a little slack. I!!!8217;ve come here to ask for advice of which a lot of people are giving, but the other half seem to be finding reasons to belittle me.

dibblersan

Georgedunn wrote: »

It his own business, so I don!!!8217;t think he will get in trouble with anyone.

Is it sad? Or is it just a father looking to help out in an industry he knows a lot better than his son who is a first time buyer...

Again I!!!8217;m 21, this is the first time I!!!8217;ve done this, cut me a little slack. I!!!8217;ve come here to ask for advice of which a lot of people are giving, but the other half seem to be finding reasons to belittle me.

Helping is advising. Doing for is not helping. It's almost the exact opposite. Either you're ready to make a large financial commitment or your father is using your first time buyer status to take advantage of a government scheme he's not eligible for. eitherway sad.

Georgedunn

Either you're ready to make a large financial commitment or your father is using your first time buyer status to take advantage of a government scheme he's not eligible for. eitherway sad.

How on earth is it sad if I!!!8217;m ready to make a large financial commitment?

If you haven!!!8217;t got anything productive to add to the discussion I would appreciate if you didn!!!8217;t comment as its wasting everyone else!!!8217;s time - sad.

csgohan4

The developer is under no obligation to respond nor bow to your demands, what are you going to do?


Your hand is very weak and you have nothing to bargain, your problems are not the sellers are they?


Put yourself in their shoes, it's business nothing personal, you've clearly let your emotions taken this purchase over




Your a high earner and you depending on Help to buy is in itself evident of your poor grasp of finances. You do know you will likely be paying back more than you get from the HTB scheme.


not to mention new builds are over priced and will drop in value once you have the keys

DaftyDuck

Everybody, stop "forcing" the OP to post! It's embarrassing...

AdrianC

Georgedunn wrote: »

The e-mail was sent by my father

The developer would be breaking the law by entering into any kind of correspondence with your father on your contract with them.