harj

Today I had a phone call from my Estate Agent telling me the tossers who wanted to buy my house have now pulled out after failing to get a mortgage!!!!

A sale was agreed back in March on my house and its been delayed and delayed as the same knobber bought another house to rent out and wanted to purchase my house last as it was the place he wanted to move into!

Ive been fobbed off and given the massive run around from his solicitors to my agents so many times and now this!

Is there anything I can do about this? I can't be bothered having to readvertise it again, someone must know if I can take legal action over this?

Cheers

Harj....

DrEvil

I'm afraid, I believe until you actually exchange contracts, there is nothing you can do about this sort of thing.

Rgds, Alex

fast bloke

Yep, Alex is correct. Everything is 'subject to contract' so if you haven't exchanged contracts there aint nothing you can do

John Catlin

I know how you feel and you can't do a thing about it.

Had a similar situation and got a phone call from the tosser on Boxing day !!!

Pulled out of the deal.

Cost me money for the other house and no recourse.

Why don't the law of the land be changed !!!

JohnS

iTrader: (1)

One of the good things about the Scottish system, is that things like this don't happen. Once the sale is agreed, then it's a legally binding agreement, and if the purchaser pulls out, then they are liable for the seller's costs (including legal fees etc).

harj

Cheers guys

Ive spoken to my solicitor and she says the potential buyer still wants to proceed with another mortgage company so we will have to wait and see.

On the plus side my house has risen in value quite a bit since the original sale so im not too fussed now after hearing that!

Cheers

Harj....

orbv

Harj,

Speak all you local estate agents and tell them the guy has pulled out and its back on the market with a new value. Tell the would be buyer that you will continue to allow people to see the house (and you may except higher offers) until he exchanges.

Its amassing how quickly if will find a mortgage and exchange if he thinks he is going to loss the house.

Neil Smalley

Harj,
If you know anyone who deals in mortgages etc put them onto your buyers. Mate of mine did that and it was through in no time.

jon hill

has he paid for a survey on your house yet ? if he has at least he has put up some financial stake. otherwise just keep your house on the market...

but you are completely hanging in the wind until you exchange - i had a similar deal a few months back, lost the property i was trying to buy because of it. The English system is barking mad (i would say that of course...)

complete nightmare - see my recent rant in another property related thread


jon