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Solicitor cost when sale falls through
MNM2903
Posts: 322 Forumite
We have found our selves in a position where we are ready to complete on a property we are buying pending the sale of our house.
We had a cash buyer but they haven't even started getting surveys, raised any queries etc and have no timescale for when their money will be released from a trust fund which is being used to buy our house.
We are exploring the option of putting the property back on the market as she hasn't been communicating with solicitors or estate agents and we have no idea when she is going to have the funds.
Do we lose everything that we have paid already which will be around 1k also we have closed our HTB ISA as instructed by our solicitor.
I think it's just one of them things where if we pull out now we lose that and have to pay everything again if we end up having to buy another property but just wanted to double check.
Thanks
We had a cash buyer but they haven't even started getting surveys, raised any queries etc and have no timescale for when their money will be released from a trust fund which is being used to buy our house.
We are exploring the option of putting the property back on the market as she hasn't been communicating with solicitors or estate agents and we have no idea when she is going to have the funds.
Do we lose everything that we have paid already which will be around 1k also we have closed our HTB ISA as instructed by our solicitor.
I think it's just one of them things where if we pull out now we lose that and have to pay everything again if we end up having to buy another property but just wanted to double check.
Thanks
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Comments
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It can depend. Our solicitor charged us 80% of the expected fees.
You can also reinstate a closed HTB ISA. You will need to get a notification of failure from your solicitors, and take this along with the notice of closure to your bank.0 -
Our sale fell through in June (we hadn’t paid anything upfront except for searches but we did get to the point of exchange) we have recently sold again and are purchasing the same property and when we went to the solicitors we expected we’d be paying more because of the extra work, turns out they’re not charging us any more actually. I’m quite shocked to be honest.0
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It can depend. Our solicitor charged us 80% of the expected fees.
You can also reinstate a closed HTB ISA. You will need to get a notification of failure from your solicitors, and take this along with the notice of closure to your bank.
That's good, I thought our HTB was now dead in the water.0 -
Our sale fell through in June (we hadn’t paid anything upfront except for searches but we did get to the point of exchange) we have recently sold again and are purchasing the same property and when we went to the solicitors we expected we’d be paying more because of the extra work, turns out they’re not charging us any more actually. I’m quite shocked to be honest.
Thanks for that, I'll speak with our solicitor and see what they say, hopefully we can get it sold quickly and still buy the house we want as we're at the point now where we're ready to go on that, fingers crossed.0 -
My solicitor didn't charge anything extra after my first purchase fell through. I wasn't sure of the process but on speaking to him about pulling out of the purchase he advised that there would be no additional costs from him. I was shocked too as I assumed that they would charge twice.Feb 2024:
CC1 6537.66
CC2 7804.45
CC3 4221.17
CC4 2053.68
CC5 989.30
Loan 1 3686.44
Loan 2 5275.22
Total £30,567.920 -
A decent solicitor will have a sliding scale of charges.
Our recent abort cost us 60% of the published feein S 38 T 2 F 50
out S 36 T 9 F 24 FF 4
2017-32 2018 -33 2019 -21 2020 -5 2021 -4 20220 -
Just a reminder that you can take out insurance to cover your costs if your sale/purchase falls through. I think I paid around 50 quid.0
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