Hi there,
Am totally stressed with a house purchase! We sold our family home about 12 months ago and went house hunting. We are currently renting. After a long search and many bids being beaten, we found a second hand property to buy as our family home and drew down a mortgage, agreed a price and a closing date and both we and the vendor have signed contracts.
On the day the house was due to close (get the keys etc.) about 5 weeks ago, the vendor's sol contacted my sol to inform him that a tenant was refusing to leave. The vendor's sol had assured my sol that the correct termination notice had been served (112 days) in writing and that the tenant was simply saying that they "had nowhere to go" and was "digging their heels in".
We are currently in limbo and the tenant is still there. I have given the mortgage back to the bank and can re-draw it down within 2 months without penalty... then I have to re-apply. My sol has served a notice of completion that is due to run out in about 2 weeks time. The vendor wants to go to the PRTB but I have heard that that could take 9-12 months to resolve itself!!
I heard that we can sue the vendor but have no idea if that is worth it... and it is complicated by the not-leaving- tenant. We really want the house and we are so so frustrated that nobody between the PRTB, the sols, the vendor can come up with a timeline or what is happening next... we just want to buy a house for our family!
Has anyone been through this before or could offer some practical advice?
Thanks!