Seller creating impossible deadline.

Davesquire

Despite being a cash buyer, with no chain, I have been struggling to buy a frehold property where the seller (a Housing Association) and their solicitor have been witholding or delaying release of information. It has reached a point where they have issued an ultimatum: exchange by end of day tomorrow (12 Dec) or they will withdraw the property from the market.
This is despite:
- an outstanding error (?) on the transfer plan; and
- an unwillingness to sell with full title guarantee (essential for me to register with Land Registry and protect my interest);
- unacceptable restrictive covenants, including requiring permission from them to carry out any works to the property and not to carry out any form of business (good job we're not in lockdown).
I guess by now that you are all screaming "Walk away!", but there are very few freehold properties available a reasonable price and both my solicitor and myself are of the opinion that this is a ruse for them to remove it from the market and resell at a hgher price.
In the interim, I have submitted a Stage 2 complaint with the HA, but don't expect any joy from that.
My question is, do I have any recourse, especially to recover my legal costs and to challenge what has been a right mess of a sale, including highly inaccurate sales information from the outset.
Thank-you for your help.
 

retiredbanker1

Leave well alone - Buy in haste repent at a very expensive leisure - + the problem with the deeds etc will be there when you decide to sell on>

Albermarle

and not to carry out any form of business (good job we're not in lockdown).

Most home insurance policies say this, but then say home office type work does not count.
Maybe this is the same .

mebu60

Davesquire said:

both my solicitor and myself are of the opinion that this is a ruse for them to remove it from the market and resell at a hgher price.

 

They don't need a ruse. Prior to exchange they can withdraw at any time without offering any reason and remarket it if that's what they wish to do. You are just as entitled to withdraw at any time for any or no reason.

You are a bird in the hand to them so could just be that they are keen to try to get it over the line asap without sorting the issues in the hope you'll buckle. Any subsequent sale to another party will hit the same issues.

Stick to your guns. I would not buy without full title guarantee and your conveyancer has no doubt reinforced that to you. Be prepared to walk away. Tell them you will withdraw if not sorted to your satisfaction.  

Davesquire

mebu60 said:

Davesquire said:

both my solicitor and myself are of the opinion that this is a ruse for them to remove it from the market and resell at a hgher price.

 

They don't need a ruse. Prior to exchange they can withdraw at any time without offering any reason and remarket it if that's what they wish to do. You are just as entitled to withdraw at any time for any or no reason.

You are a bird in the hand to them so could just be that they are keen to try to get it over the line asap without sorting the issues in the hope you'll buckle. Any subsequent sale to another party will hit the same issues.

Stick to your guns. I would not buy without full title guarantee and your conveyancer has no doubt reinforced that to you. Be prepared to walk away. Tell them you will withdraw if not sorted to your satisfaction.  

Thanks. A reasonable assumption. Unfortunately, this has been ongoing since July and my ex-partner, who has been very benevolent is getting twitchy. She obviousy wants to move on with her life.

Flugelhorn

Albermarle said:

and not to carry out any form of business (good job we're not in lockdown).

Most home insurance policies say this, but then say home office type work does not count.
Maybe this is the same .

a lot of new properties have covenants stating that people cannot run businesses from home - but a great number do and nothing is ever done about it 

sheenas

Its likely to be someone try to get their bonus. No likely to pullout if your a cash buyer 

eddddy

Davesquire said:

My question is, do I have any recourse, especially to recover my legal costs and to challenge what has been a right mess of a sale, including highly inaccurate sales information from the outset.
 

Well - for what it's worth.,.

...this legal firm's view is that a Housing Association is a 'business', and therefore is bound by The Consumer Protection from Unfair Trading Regulations 2008.
See: https://www.walkermorris.co.uk/comment-opinion/housing-associations-shared-ownership-and-consumer-protection-considerations/


Therefore, if the Housing Association misled you (without a reasonable excuse), in theory, you can make a court claim for damages - and/or you can report them to Trading Standards, who have the power to prosecute them.

But realistically, it might be a tough battle for damages.

And I doubt Trading Standards would prosecute unless they had a whole bunch of complaints against the Housing Association.

 

TBG01

Davesquire said:

- an unwillingness to sell with full title guarantee (essential for me to register with Land Registry and protect my interest);

Errrmmmmm, it makes no difference at all with the Land Registry.

What do you think happens with the tens of thousands of properties sold yearly by Executors, Attorneys, Trustees, Deputies, Receivers etc etc which are old sold with limited title guarantee?

user1977

The only bit which actually sounds a problem is whatever the error on the transfer plan is. And I don't know whether the "(?)" means you have doubts about whether there is an error?

EssexHebridean

The Full Title Guarantee thing is a red herring - they can’t give it, and this isn’t anything out of the ordinary. It definitely doesn’t in any way stop the property being registered into your name. Who has suggested to you that it would?