Shark

Today I exchanged contracts on the sale of my house. Does this mean the money is as good as in the bank, or can the buyer back out before we complete?

Cheers

David

AllanB

I think thats pretty much a done deal and if they try and back out there are normally very heavy penalties.

Good luck mate, are you still in the London Colney area ?


AllanB

mook

It's pretty much a done deal. if they try to back out it will cost them stacks in fees and paying off of everyone's deposits and such like. I don't know of anyone who's tried to pull out after exchange. Good luck with the new place

Stevie

If they do not complete (cash changing hands) by the completion date that has been set by your respective solicitors on exchange, you can serve notice to complete. They will have 10 working days to complete the transaction, and will lose the deposit they will have had to have lodged with their solicitor prior to exchange. (Your solicitor will have details of this amount). If they then fail to complete after 10 working days, they are liable all the way up the chain!!


It is as good as done

Shark

Cheers people.

Allan, still in London Colney.

David