Pulling out of Contract

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dilema78

Guest
I bought off the plans 18 months ago. I am really unhappy with what I have bought and I want to pull out of the contact.

I know I will loose my deposit but what other problems will I encounter. Could I be sued by the builders.

I just wanted to ask here before I go to my solicoter as sometimes I don't find them to be acting in my best interest. They were listed as recommended solictors at the show house.

This has brought me to tears and I could use some advice. Thanks
 
Thank you for that.
But doesn't answer my question as I have a loan offer, the morgage is drawn down and we are nearly at the stage where I have to sign. I'm feeling railroaded in to something that is not what I am expecting.

Can I be sued for not fulfilling the contract.
 
shanegl said:
Yes, you can be sued. Whether this is likely or not, I can't say.
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Technically yes, but I've never once heard of a Developer following through. That would be incredibly bad publicity for them and that development in particular. However I'm sure you've no interest in being the "first purchaser sued by developer in 20 years" news item on the six one news.
 
No I don't. But the stress is killling me. Literally I feel like I am buying a burden than my first home.
 
Push this onto your Solicitor. If you feel the property doesn't equate with what you signed a contract for then there should be some wriggle room that your Solicitor can use to back out of the deal. That's what he's getting paid for, to look after your interests.
 
dilema78 said:
I'm feeling railroaded in to something that is not what I am expecting.
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How so? Were you not aware of the implications of entering into such a transaction? :confused:
I just wanted to ask here before I go to my solicoter as sometimes I don't find them to be acting in my best interest.
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Why is this?
 
ClubMan said:
How so? Were you not aware of the implications of entering into such a transaction? :confused:

Yes I was fully aware of the implications. But what I ended up buying is not what I expected to buy without going into specific details.

Why is this?
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Well they have been pushing me to sign as they say the snags can be fixed later with a legal undertaking where by the snags are not structure problems which isn't worth the paper its written on. No builder will do anything for you at the best of times don't mind when they have been paid.
 
But what I ended up buying is not what I expected to buy without going into specific details.
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But are you saying that the house just does not meet your needs or that there are sufficiently serious snags/flaws that you want out?
 
What I am saying is that the design of this apartment should never have been approved by the Planning Authorities. There is flaws in the design but they meet the square footage. I am not going to broadcast on a Public Forum the specifics.
 
But I'm presuming you purchased off the back of those design plans? If you weren't happy with them then why did you decide to purchase it?
 
Because at the time on paper it looked fine. The reality is somewhat different. And when I pointed this out to my engineer etc. He said its done because they can and nobody can stop them.

I was asking for advice on the implications of pulling out of a contract not why I want to pull out of a contract.
 
dilema78 said:
I was asking for advice on the implications of pulling out of a contract not why I want to pull out of a contract.
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I haven't seen any valid grounds for you to pull out so far since the property conforms to the plans that you signed for. You need to negotiate with the developer to see what your options are.

In the past, they were quite accomodating to buyers who wanted to pull out since they could sell it on easily. There seems to be a lack of buyers at the moment though so he would be well within his rights in forcing you to close on the property.
 

Yes you are right, there are no valid grounds in legal terms hence I want to know what the issues are. So as far as I can see, I can be sued for pulling out of the contract if that is what I decide and I will loose my deposit. I can accept loosing my deposit. But suing me is a ball game I don't know much about.
 
if you don't want to ask your own solicitor yet, would you ring another one? the answer mighn't be as scary as you think. have you spoken to the builder at all?
 
I spoke to another solicitor and he is saying that yes I could be possilby sued but thats all he can tell me. I just don't know what to do. I certainly don't feel at all comfortable signing for this property and sueing doesn't appeal either.
 
Would you make contact with the builder or make your solicitor do it? you'll have yourself worried sick when a resonable solution could be reached? Hope it all works out!
 
dilema78 said:
I spoke to another solicitor and he is saying that yes I could be possilby sued but thats all he can tell me. I just don't know what to do. I certainly don't feel at all comfortable signing for this property and sueing doesn't appeal either.
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I am unsure what you mean by "signing for this property" as you have already "signed" contracts which are legally binding??
Do you want to know what are the chances of the builder persuing you through the courts for the balance of the purchase price if you pull out? Nobody knows this except the builder and his solicitor. It can happen but who knows whether the builder would want to go down that route? He may be happy keeping your 10% deposit and putting the property back on the market as long as he is not out of pocket.
Have you asked the solicitor if he would be willing to release you from your contractual obligations? Have you has any feedback from his solicitor?
Maybe speak with the auctioneer and see how properties in the development are selling? The builder may allow you to sell on the property by way of sub-sale? It ensures he will not be out of pocket but allows you to sell the property without paying Stamp Duty? Speak with your solicitor asap.
 
dilema78 said:
I spoke to another solicitor and he is saying that yes I could be possilby sued but thats all he can tell me. I just don't know what to do. I certainly don't feel at all comfortable signing for this property and sueing doesn't appeal either.
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Have you made stage payments? If there is a snag list, this is usually addressed before moving into the property.

You should speak to a Solicitor familiar with conveyancing. Also, remember you have rights and perhaps if the builder is with HOMEBOND which he should be, you can log onto their website and get more info. The main thing is not to worry yourself sick over it. You have rights and at the moment your mind is clouded and you find it very hard to see beyond this problem. Take this step by step and start with the Auctioneer who took your booking deposit and tell him how you feel. He will not want adverse publicity and if he/she is a rational individual he can approach the builder on your behalf.
 
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