House purchase/contract signed

Signed initial contract for purchase of house, sent to vendor solicitor 2 weeks ago, our solicitor has not to date received a copy of signed contracts by both parties plus our deposit has not been forwarded to vendors solicitor due to outstanding question about right of way. what is the legal position now if we, as buyers, do not proceed with purchase. thanks

who is raising the ROW issue?

what did the contarct say about the deposit being paid.

Under contract law u need offer acceptance and consideration.

If your man still has the deposit then no contract

hastalavista said:

who is raising the ROW issue?

what did the contarct say about the deposit being paid.

Under contract law u need offer acceptance and consideration.

If your man still has the deposit then no contract

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Are you sure?

I am not a solicitor, but I would have thought that if the vendors sign the contracts, then they are binding on both sides.

It seems odd to me that a ROW issue is being raised by the purchaser after signing the contract.

I'd +1 what Brendan says.

ROW issue should have been sorted before buyer signed. If vendor signs then the ROW issue will now be an issue the buyer will have to sort.

Its a buyers market so I wouldn't be too worried about the purchase per se.
This may be only an i-dotting and t-crossing issue and your solicitor may be right to withhold the deposit.

Whether he can legally without the deposit after the contracts have been signed is an issue you should discuss with him.
The payment of the deposit may have been conditional on the sorting of the ROW in which case you may be fine - otherwise perhaps not so fine.

By that I mean that I've seen what seemed to be dodgy ways to proceed used in property deals because there was money needed to address the outstanding issue.
If the deposit was needed by the vendor to satisfy someone or something else which clears up the ROW issue, your solicitor may be frustrating the sale.


ONQ.


All advice on AAM is remote from the situation and cannot be relied upon as a defence or support - in and of itself - should legal action be taken.
Competent legal and building professionals should be asked to advise in Real Life with rights to inspect and issue reports on the matters at hand.

If contracts are not signed by vendor's and deposit not handed over you could try and get your solicitor to ask the vendor's solicitor to return the contracts unsigned.

Sounds like the contracts being signed are dependant on the ROW issue being resolve and both solicitors have between themselves agreed on this. But ask your solicitor what is the situation.