i sold some land and they had paid a non refundable deposit.completetion date was 20th dec. they failed to complete. my solicitor told me that by law he had to send them a form that says if they dont complete in 10 days the land will go back for sale and they loose there deposit. surley if they were supposed to complete on the said date they should not have any leeway after the original date of completetion
2006-12-20 19:19:11 · 6 answers · asked by madalainebenn 1 in Politics & Government ➔ Law & Ethics
I understand that unless it were specified that time is the essence of the contract then your solicitor is correct. What he is doing is giving the purchaser a reasonable time to complete.
2006-12-20 19:32:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Not heared of this one..but it depends what conditions were entered into the contract for sale.
I suspect your solicitor is giving the purchaser's solicitor a bit of ley-way on this. Solicitors are after all 'all pals together'
As for the form: ask your solicitor for a copy...don't let your solicitor fob you off with 'it's confidential' ....remember this is YOUR form as you are paying the bill...the solicitor is just sending it for you.
If the purchaser has defaulted on the deal then it is up to you whether or not you keep the deposit or hand all or some of it back.
2006-12-20 19:36:12 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The fault is with the original contract the people signed. If it says they get the grace period, then you are stuck with it. The reason for such a law is simple, banks sometimes don't give mortgages right away. Sometimes people have to find alternative finiaces to be able to pay you. All in all, ten days is not that long to wait, especially if it means not having to find another buyer for the place.
Next time, make sure the money is ready to go before signing the contract. Also, see about getting the grace period removed from the contract.
2006-12-20 19:36:59 · answer #3 · answered by Kevin k 7 · 0⤊ 0⤋
if this is standard conditions of sale (4th edition) then he is correct since 6.8.2 says after serving notice to complete , completion must take place within 10 working days.
2006-12-22 03:06:42 · answer #4 · answered by logicalawyer 3 · 0⤊ 0⤋
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2006-12-21 01:35:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If the solicitor says its the law ,it must be.
2006-12-20 19:33:34 · answer #6 · answered by Pat R 6 · 0⤊ 0⤋