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Property Developer pulls out of house purchase 2 days before completion. Absolute nightmare.

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Comments

  • km1500
    km1500 Posts: 2,790 Forumite
    1,000 Posts Second Anniversary Name Dropper
    edited 27 August 2022 at 9:33AM
    Haven't read the thread in detail but this jumps out - unless I am misunderstanding the EA is selling a property for them?

    "Can't / won't disclose much about them, as they're selling a house for them currently,"

    If so, they have assets. Try and get a charging order quickly.

    Assuming, of course, they are selling it in the name of the Limited Company.

    The only other option I can think of is solicitor negligence. You mentioned your solicitor was a 'bit suspicious', but for me they should have insisted on the directors personally liable especially as it was a new company. Depends on exactly what your solicitor said to you. They are the experts acting on your behalf and should have strongly suggested personal director liability and by not doing so may have been negligent. The whole situation (exchanging with a newly formed company) screams danger and any solicitor should have been very very forthright with you about the dangers and penalties. 

    Your solicitor should have warned to, in writing, about what you were getting into and what would be likely to happen 6 months down the line.
  • Sorry for not answering any questions to date. Been trying to take my mind off this awfully stressful situation for the last few days as the worry was hindering my sleep.

    Will answer and update tomorrow.
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