2006-11-18 23:19:16 · 6 answers · asked by **ZARA** 7 in Politics & Government ➔ Law & Ethics
I think the other answer is a bit of an exaggeration; on the other hand I don't know -- and a quick Google check hasn't revealed -- to what extent the Statute of Frauds, requiring a writng for transfer of interests in land, or contracts therefor, applies to Scotland.
Nor have you said what stage your sale has reached.
I don't thinkk this is a DIY project. You are going to need Scots counsel to negotiate a solution if a binding contract was reached (establishing terms of sale, etc.) If there is room for doubt, your situation is good: a contract that is to be enforced has to include all the important terms.
2006-11-18 23:42:22 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Not sure if you can't just cancel, I know that once a sale has been agreed, you can't accept any other bid, even if it is higher. Perhaps you may have to pay a penalty, and any expenses the other person has incurred. I know that, in Spain, if you pull out, then you have to pay back any money already paid by the purchaser as a deposit, and then a similar amount as a penalty. You would almost certainly NOT be allowed to sell the property for a certain length of time after as it may be claimed that you only withdrew so you could sell for a higher price. Check with a Scottish solicitor.
2006-11-19 07:58:55 · answer #2 · answered by mike-from-spain 6 · 1⤊ 1⤋
Under Scots Law a verbal offer for a property is NOT binding (Requirements of Writing (Scotland) Act 1995). The offer must be made in writing. If the seller pulls out after the conclusion of missives (formation of contract) there is generally very little recourse for the buyer. There is no gentleman's handshake with regards to property in Scotland.
2006-11-21 04:43:21 · answer #3 · answered by metallicmermaid 1 · 0⤊ 0⤋
Under Scottish law, once you've accepted a bid to your solicitor to purchase your house, you are committed to completing the sale. If you then try to change your mind and walk away you could be sued for breach of contract by the purchaser. They might of course be willing to accept an out-of-court offer of compensation to avoid the hassle of a court case.
2006-11-19 11:02:22 · answer #4 · answered by Huh? 7 · 0⤊ 0⤋
This would be a Breach of contract and you can be sued in a court of law for expenses and damages. In Scots Law any verbal contaract consitutes a legally binding contract and is enforceable in court just the same as a written one.
2006-11-19 08:16:13 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Breach of contract - a gentlemans handshake is enough to seal the deal there xx
2006-11-19 07:24:18 · answer #6 · answered by starlet108 7 · 1⤊ 1⤋