firsttimebuy
Registered User
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MOB is a solicitor!MOB, you seem quite familiar with the legal aspects of closing
The standard contract provides for a completion notice (often called a 28 day notice) and if such a notice is validly served, then the buyer is indeed at risk of losing deposit if they do not complete within the notice period (as well as being sued if vendor re-sells at a loss) . There can be disputes about whether a notice is valid; there can be disputes about the date of service; but by and large there are very few loopholes. You would really need to get advice specific to a given transaction -there are no general observations I could make which would be very helpful.
In the context used, I was indeed referring to the "binding contract which has been signed by both parties and contains within it the closing date?"
MOB in your experience has a purchaser ever been successful in serving a completion notice on vendor?
MOB in your experience has a purchaser ever been successful in serving a completion notice on vendor?
I was!
Leo
In what way were u successful , my case is of deposit being returned if property is not completed
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