What recourse is there if seller drops out?

poppysarah

Should always take advice from a good solicitor who's working for your benefit when buying a house. Not EA. They are only the same as people selling sausages really aren't they?
(No disrespect to either sausage sellers or EA, but when legal advice is required they're not qualified or insured to provide it)

Captain_Mainwaring_2

AJ1982 wrote: »

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

East to spend that 2k

On a flat? you're having a laugh aren't you?

They only wanted to survey it not decorate it.
Solicitors fees of a grand? for just putting the searches in place and maybe examing the lease?

I thought drainage search was about £50?

trudiha

Captain_Mainwaring wrote: »

I thought drainage search was about £50?

£56 but perhaps all drains aren't equal.

baileysbattlebus

It works both ways - we had a buyer pull out on the morning of exchange - a real pain in **se.

And a seller, an elderly lady, just dropped off the scene after we had had a full structural survey done, which, alone cost a lot of money, instructed asolicitor, had the mortgage arranged - it turned out she had changed her mind.

They say buying and selling is the most stressful thing likely to happen to you apart from divorce or bereavment.

Jorgan_2

ken_and_dot wrote: »

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.

Does your daughter live in Scotland? I don't really know the system there, but in England and Wales, signing a contract does not commit you to buying or selling a property, its the exchange of contracts that is legally binding.

ken_and_dot

She signed both contracts at the same time. Her buyer then signed their copy but the seller refused unless she paid an extra £10k. Exchange then went ahead on her sale whilst she was on honeymoon but her purchase fell through as she could't afford the extra £10k. The normal procedure would have been for simultaneous exchange of contracts on both sale and purchase. She agreed, under pressure from the EA to allow exchange on her sale a day before exchange on her purchase. That is why I am sure the EA new that the seller of the cottage was demanding a further £10k.

Jorgan_2

Difficult one to prove. Not a nice situation for them to be in.

ken_and_dot

Difficult one to prove. Not a nice situation for them to be in.

I agree. But we are a large extended family in a small village and you wouldn't believe how much property we seem to buy and sell between us. As they say 'we are the customers who never go back', so there is some justice.

Captain_Mainwaring_2

trudiha wrote: »

£56 but perhaps all drains aren't equal.

£56 would appear to the Capt to be more "about £50" than £100 , but there we go.

Lakey

I've gotta hand it to you captain, you have a very dry way with words that gets to the point without being too patronising or cutting.

I always have a bit of a giggle at your posts it makes my day!!:T