What recourse is there if seller drops out?

stan_hoey

My daughter is a teacher. She was in the process of buying her first flat (in Aldershot)when the seller took the house off the market at a very late stage. The net effect is that she has lost almost £2000.

This is an appalling state of affairs, but it seems there is nothing that can be done.

How about MSE using its popularity and muscle to try and get the system changed?

:mad: :mad: :mad:

AJ1982

Unfortunately for us English (Different law in Scotland, dont know about Wales or NI), there is no comeback. Although I didnt suffer any financial loss, I have the pleasure in basking in the glory, that the property I oriignally had my eyes on is now on market at 235, when I offereed 230 on it back in January it was 250 only. Of course its still on the Market. Aww that poor Vendor.

VickyA_2

I am also a teacher and 18 months ago my husband and I tried to buy our first house. Like your daughter, the seller pulled out at a very late stage and we lost a similar amount of money. We put a request in, knowing that it would be turned down, that the seller give us half of what we'd paid out for "inconvenience". Of course, she didn't pay, but then again she isn't obliged to.

We then had another two purchases fall through (though we didn't lose any money, thankfully!) and we're quite relieved! We're building up our savings for a deposit and hoping that we can achieve a higher level of deposit next time and also house prices will be more in our favour............ fingers crossed!

Jorgan_2

Unless she has exchanged contracts, she has no re-course against the seller.

skintlass

It works both ways - I had a deputy head teacher buying my house - nice person I thought - reliable etc. It was all going along with promises of we've had offers on our house then nothing - silence. No contact with EA or me at all. A courtesy call just to say - "we decided against buying" would have been reasonable I'd have thought.

poppysarah

How has she lost £2000?

Jorgan_2

poppysarah wrote: »

How has she lost £2000?

Mortgage arrangement fees, suvey fees & solicitor fees could easily add up to £2k.

Captain_Mainwaring_2

Jorgan wrote: »

Mortgage arrangement fees, suvey fees & solicitor fees could easily add up to £2k.

Mortgage arrangement is neither here nor there, it will still be valid for another property.

The other things are part of life. It's a big decision to buy a house, and there should be a commitment until exchange when things are set in stone.

poppysarah

Are mortgage arrangement fees that high?! Shocking!

Won't the mortgage be valid for a while still though? Or are they only valid on one property.

ken_and_dot

My daughter and her new husband were in the process of selling their one bedroom flat and buying a small two bed cottage locally through the same estate agent.

It progressed to exchange of contracts on both properties but the EA pressured them to sign the contract on their sale as he said the buyer was threatening to pull out. Unknown to me they did so and also signed the contract for their purchase. According to the EA their seller was to sign the contract the following day.

They then went off on honeymoon to Thailand. To everyone's horror the seller then refused to sign unless they agreed to pay an extra £10k. They had already comitted to selling their own home and could not afford the extra for the cottage. They spent £350 plus on mobile calls from Thailand and had their honeymoon ruined. They came back with no home to move into.

They had no redress to the seller but no one will ever convince me that they were not shafted by the EA who knew very well what the seller was going to do and the EA simply ensured that he would get at least one deal through even if the other fell through.

However, this is a small village and I have ensured that everyone I know is aware of what the EA did so he may pay in the long run. A hollow victory of sorts and the cottage stayed on the market unsold for another twelve months.

AJ1982

Survey - £400
LA Searches - £125
Drainage Search - £100
Solicitor Fees - circa £1000

East to spend that 2k