Fees to be paid if purchase falls through

benson2221

Hey everyone,

I've been in the process of buying and selling a property, but I'm starting to have doubts about the purchase going through. We're at the final stages, and the solicitor has done most of the work on both ends. However, there have been some delays, partly due to the solicitor's actions, which I believe might lead to the purchase falling through.

My concern is whether I'll still be on the hook for the full cost of the fees if the purchase doesn't go through. Does anyone have experience with a similar situation or know what the typical outcome might be in this scenario?

Thanks in advance for any insights or advice you can provide!

kingstreet

Depends on the terms you accepted on appointing the solicitor.

p00hsticks

I've been in a similar situation but with a sale not a purchase - the solicitor charged a partial fee for the work done so far - from what I recall it was about 50% of the cost for the eventual sale that went through.

 I imagine that the bill for a purchase that fell through could be more expensive as it would include the cost of all the searches etc done...   

propertyrental

See

https://forums.moneysavingexpert.com/discussion/6511149/how-much-would-i-lose-if-i-pulled-out-of-buying-a-home#latest