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vendor advertised property through estate agent, buyer made an offer of full asking price which was accepted, the house was empty and the vendor was living elsware. all fees were paid by the buyer up to £1400 and at the last minute the vendor pulled out of the deal without giving an explanation. what if any is the procedure for the buyer to recoup expenses incured and lost due to no fault of their own. The vendor refuses to give a reason for pulling out of the deal either to their own solicitor or to their estate agent, why should the buyer lose out especialy when they were trying to satisfy the vendor with a quick sale as requested by the vendor in writing

2007-02-12 14:59:28 · 4 answers · asked by rabdin2002 1 in Business & Finance Renting & Real Estate

4 answers

It appears you are in another country. In the United States I have had several buyers in your situation, We have taken the seller to court and sued for Specific Performance. The courts will either force the seller into proceding with the sale or force him to pay you for costs and damages. This of course is assuming you have everythig in writing and a solid contract. I hope you had an attorney review that contract when you entered into it. I'm not sure how your legal system works, but I'd find a good aggressive Real Estate Attorney. Good luck!

Vicki Watzlawick
Broker Owner
Exit Platinum Realty
www.vickisdreamhomes.com

2007-02-12 15:21:27 · answer #1 · answered by Anonymous · 0 1

I think people who do this are creeps of the lowest order - they know they are in the wrong and that there is nothing you can do. If it is any consolation to you, that estate agent will tell every other estate agent in town, and their solicitor might well refuse to handle the sale again.

Estate Agents are creeps too, so they won't refuse the handle a future sale, but they will treat that vendor with caution.

This is a real problem with UK law - you have my sympathy, but as things stand, you have no redress.

2007-02-12 20:07:14 · answer #2 · answered by Anonymous · 0 0

Under the English system, sales/purchases are made "subject to contract". This means that until your two sets of conveyancing lawyers agree on the exact terms and conditions of the contracts and then exchange them, either party can pull out of the deal - because there is no deal yet.
Its a pain, and an expensive one at that when it happens, but that's the way it works.
Other countries have a more prescribed method, for example in Australia purchases are usually made "subject to finance" - which means that the purchaser has 14 days in which to get their bank loan finalised, other than that the deal goes through.

2007-02-12 17:06:54 · answer #3 · answered by Billybean 7 · 0 0

If you're in the UK, then you really have nothing to go on..Happens all the time! Just have to live and learn.

2007-02-12 20:31:23 · answer #4 · answered by bluecow 5 · 0 0

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