We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
House purchase about to collapse on exchange?
DannyS_2
Posts: 18 Forumite
Hi,
Have had a very straight forward, clear buying process up to now. I am purchasing a property, and seller is moving into an empty place! All good!
From day 1 we have agreed to complete, 2nd May. Sol went to exchange yesterday and this never happend as the vendor has a 'shortfall' in cash [approx £5k] for the property they are buying. This has obviously left my annoyed that it took up to now to realise and that potentially it could collapse [in the current market, needing an extra £5k from mortgage company when he could well be at his current lending limit!] I don't want to really ask my solicitor at the moment what options I have if he cannot purchase his property, so wondered if anyone on here knew?
Very VERY annoying, especially as I have ordered bits already for the flat etc etc!
Have had a very straight forward, clear buying process up to now. I am purchasing a property, and seller is moving into an empty place! All good!
From day 1 we have agreed to complete, 2nd May. Sol went to exchange yesterday and this never happend as the vendor has a 'shortfall' in cash [approx £5k] for the property they are buying. This has obviously left my annoyed that it took up to now to realise and that potentially it could collapse [in the current market, needing an extra £5k from mortgage company when he could well be at his current lending limit!] I don't want to really ask my solicitor at the moment what options I have if he cannot purchase his property, so wondered if anyone on here knew?
Very VERY annoying, especially as I have ordered bits already for the flat etc etc!
0
Comments
-
If it unravels, you could try pointing out he's lucky to have a buyer and it'd be a good idea for him to take your money and rent himself until he finds another house/re-negotiates.0
-
He might be hoping that you offer him the 5k!!
:mad: :A
I know what I am talking about.........it's just that nobody else does!0 -
I already had a price reduction so no way he is getting that back..!0
-
panichousebuyer wrote: »He might be hoping that you offer him the 5k!!
I agree - sounds like he is trying it on...You're my wife now Dave.......0 -
How is it going? Is he still claiming that he has a 'shortfall'? :mad: :A
I know what I am talking about.........it's just that nobody else does!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards