If Seller Pulls out. Can you sue for loss of monies?

G

gers1980

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Hi its looking like the seller of the property I was purchasing might be about to pull out of the deal.

Can I sue for all my legal costs to date, surveyors and valuers etc...

Thanks
 
Re: If Seller Pulls out. Can you sue for loss of monies????

Unless you exchanged contracts, where you could sue for specific performance, I doubt if any costs you incurred are recoverable.
 
Re: If Seller Pulls out. Can you sue for loss of monies????

It depends on what stage of the process you are at - if you have signed contracts, then you can enforce the sale. If you have not signed contracts yet, then either party can back-out of the sale with no liability to the other.

Sprite
 
Re: If Seller Pulls out. Can you sue for loss of monies????

Have you exchanged contracts? If not then no - same for if you pulled out at this stage.
 
Re: If Seller Pulls out. Can you sue for loss of monies????

Not yet, Still waiting on them. Been waiting 4 weeks. Thats bad I will lose over 2000 in costs.
I'm sure I will get booking deposit back?
 
Re: If Seller Pulls out. Can you sue for loss of monies????

gers1980 said:
Not yet, Still waiting on them. Been waiting 4 weeks. Thats bad I will lose over 2000 in costs.
I'm sure I will get booking deposit back?
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Yes, you'll get the deposit back. There is a risk involved in purchasing a property for both sides prior to contracts being exchanged. Had your survey thrown up significant issues, or had you had issues getting mortgage approval you might walk away, so not that different.

Have you confirmed how much your solicitor will charge if transaction doesn't complete - may not be the full fee depending on how far the transaction got.
 
Re: If Seller Pulls out. Can you sue for loss of monies????

No Everything signed and done our end. Life assurance, House Insurance.
There is a problem that he didn't register a land split on the property where he built another house.
It has been going on weeks and his solicitor will not return my solicitors calls.

Long story.............

So If we pulled out tomorrow would we get our booking deposit back???
 
Re: If Seller Pulls out. Can you sue for loss of monies????

If no contracts exchanged EITHER party can pull out and deposit is refundable. If it's you who is pulling out why would you wish to sue the seller?
 
Re: If Seller Pulls out. Can you sue for loss of monies????

gers1980 said:
No Everything signed and done our end. Life assurance, House Insurance.
There is a problem that he didn't register a land split on the property where he built another house.
It has been going on weeks and his solicitor will not return my solicitors calls.

Long story.............

So If we pulled out tomorrow would we get our booking deposit back???
Click to expand...

Maybe I'm missing something, but I find it odd that someone would take out life assurance and house insurance before contracts are exchanged.
 
Re: If Seller Pulls out. Can you sue for loss of monies????

plant43 said:
Maybe I'm missing something, but I find it odd that someone would take out life assurance and house insurance before contracts are exchanged.
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Not so strange, you cannot get your mortgage without documents from your life and house policies. Normally to get the mortgage set up in time for the sale to close as per the contract dates the policies would be set up early. Happened when i was buying my house anyway
 
When I bought I arranged life and insurance cover to start the day that the mortgage was drawn down. I didn't want to be paying these for no reason in advance!
 
My solicitor insisted I have house/ life cover arranged from the day I signed the contracts.
I presume this made it easier for him to close when it suited him, as he didn't need to contact me again to ensure it was in place.
 
Re: If Seller Pulls out. Can you sue for loss of monies????

JJ1982 said:
Not so strange, you cannot get your mortgage without documents from your life and house policies. Normally to get the mortgage set up in time for the sale to close as per the contract dates the policies would be set up early. Happened when i was buying my house anyway
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I understand you can't get a mortgage without these documents - however there is no reason for activating the policies before the drawdown date, as appears to be the case with the OP here.
 
Re: If Seller Pulls out. Can you sue for loss of monies????

plant43 said:
I understand you can't get a mortgage without these documents - however there is no reason for activating the policies before the drawdown date, as appears to be the case with the OP here.
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I definitely require my clients to have their life cover in place and activated prior to signing Contracts. Why? Just suppose they don't , and a purchaser becomes seriously unwell in between signing contracts and completing the deal, the life cover will be pulled and the purchaser stuffed. For the sake of a few weeks premium, better to be safe.

mf
 
Re: If Seller Pulls out. Can you sue for loss of monies????

mf1 said:
I definitely require my clients to have their life cover in place and activated prior to signing Contracts. Why? Just suppose they don't , and a purchaser becomes seriously unwell in between signing contracts and completing the deal, the life cover will be pulled and the purchaser stuffed. For the sake of a few weeks premium, better to be safe.

mf
Click to expand...

Ahh I never looked at it that way before.
 
Re: If Seller Pulls out. Can you sue for loss of monies????

plant43 said:
Ahh I never looked at it that way before.
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I'm afraid that after (what seems like 11 million years in practice.........) , you get antsty about everything!

mf
 
OP has not signed contracts.

He is not bound. Vendor is not bound. Either can walk away without penalty.

mf
 
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