Completion fallen through - where do we stand?

Sazi16

Today was supppsed to be completion day and that hasn't happened...we are a short chain. First time buyer moved in this morning as he transferred his money. Then our buyers selling solicitors processed payment but my fast track and because of the issues with lloyds today this didn't process quick enough. On the contract all payments should have been processed by CHAPS but to save their company £35 they decided to do it by fastrack. So the money never got transferred quick enough. The house in front of us is empty and the money went it at 5:05 but by that time their solicitors had closed and it was too late! Our solicitor said we will therefore have to move in Monday! Our removal company was sat in their vans waiting all day to load things into our new house but that never happened. So our solicitor we can claim that back off the responsible solicitor. But they're saying that they did it by fastrack because it was "guaranteed to go in today" however they have still breached contract by not doing it by CHAPS. I just can't believe this has happened. We are staying with in laws at the weekend and luckily the removal company will keep our stuff in their wagons until Monday and bring them to the new house but with loads of further costs incurred. Will be definately be entitled to all these does bavk from the responsible party?

Parkingfines

All people can say is speak to your solicitor

AdrianC

That's the most expensive £35 they ever "saved".

m0bov

You would be suing the buyer but why did you vacate before funds hit your account?

lisyloo

I thought this was why fridays were avoided.

Sazi16

It was in the contract that we had to a team the property by 1pm and collect our keys by 2pm so we vacated as told and then to be told that news. All because one stupid solicivuot processed it in the wrong way on purpose!

Mutton_Geoff

I'd have a weekend away in that nice hotel you always promised yourself you'd visit. Then send the bill, through your solicitors to the purchasers solicitor. And your extra petrol, phone calls, removals cost uplift etc.


They've breached the contract and you are entitled to your losses/costs.

quotememiserable

Mutton_Geoff wrote: »

They've breached the contract and you are entitled to your losses/costs.

I agree.

With the problems lloyds had today, the chaps wouldn't have gone through either. I imagine your buyer will want a discussion with them.

p00hsticks

Have you actually exchanged contracts or was the plan to exchange and complete on the same day ?


If the latter you need to establish if the exchange actually happened....

Tom99

Remember the people you are buying from may also make a claim against you since you failed to complete on time.
Ok the house is empty but if you do not complete until Monday they will be entitled to 3 days interest at the 'Contract Rate' on the balance outstanding.
Have a look at the contract over the weekend and see what they may claim.

Sazi16

Yes we exchanged contracts Monday and yes we know the people above us can claim from us aswell but surely this would be revoverable from the responsible solicitor further down the chain?