Flat sold at auction,buyers threatening to void sale due to lack of form LPE1

eddddy

Daniel54 said:

I am minded to suggest he takes a second opinion from a solicitor more inclined to legally rebut the buyer’s solicitor.

But did your son's solicitor actually suggest that the buyer might have a case? Or did your solicitor simply say something like "I've received this from the buyer"?

Before involving a second solicitor, you should explicitly ask the current solicitor's opinion on whether the buyer has a case.

Daniel54 said:

There is a timescale of a few months within which he needs to sell the property and reclaim the 3% additional  SDLT paid when purchasing his current residence,which is over £12 k

As a tactic - you could put the buyer on notice that you might have to claim an additional consequential loss of £12k from the buyer, if they fail to complete. It might further discourage the buyer from backing out.

Whether you'd actually win that claim is questionable. (I think the question would be: On auction day, was the £12k a reasonably foreseeable loss, if the contract was breached?) 

Daniel54

Thank you

i need to obtain greater clarity concerning the advice of the solicitor who compiled the legal pack for auction

My apologies,but it is always difficult when one has not been directly involved at the point of transaction.

The SDLT rebate was certainly a factor in setting the purchase reserve price at the level for which it sold,although there would be no reason for the buyer to be aware of this

user1977

Daniel54 said:

My apologies,but it is always difficult when one has not been directly involved at the point of transaction.

Well, yes. Why have you become involved, if your son is a big enough boy to be selling a flat? It might be easier if he posted here himself (assuming he wants our advice).

Daniel54

User1977

That is a fair comment,but not everyone is aware how valuable a resource these forums can be.I have become involved only to the extent that we all breathed a sigh of relief when the sale was concluded and I was seeking clarification (in order to provide advice)  on the significance of LPE 1 and the legalities around the auction process

i have had no involvement hitherto precisely because we both understood that the auction sale provided certainty of completion.