Signed contracts

A

Ann-Marie

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Just curious to know what would happen if say the contracts are signed on a house and the seller decideds not to sell or cannot sell what happens?
 
If both parties have signed (seller & purchaser) it's a legally binding agreement but if you're buying and have signed the contracts and the person selling decides not to ahead and hasn't signed the contracts, they are entitled to withdraw.
 
what if the contract is signed by both parties and the seller wants to pull out?
What would happen then
 
If you're buying, I'm afraid all you can do is sue the people selling for breach of contract, inconvenience etc. etc. It's terrible that they can pull out like that and very hard if you have sold your house in order to buy this one. Hope you find another one soon :)
 
ribena

he hasnt pulled out i was just curious to know what would happen as the last house we went for we were gazumped but the contracts are signed on this house. I just think the worst since what happened before i wont be happy until i have the keys

thanks for you info and help
 
I know how you're feeling, I felt the exact same when I was buying my house. It's a very stressful time. There's only a very minute chance that anything will go wrong so don't worry about it. Best of luck. ;)
 
With contracts signed on both sides, then you are safe. Not saying there won't be trouble. But any trouble that arises will not jeopardise the sale, just upset the timing.

At 9pm on the day of closing, we were told by our buyer that his bank had put a cheque in the post that very day. I didn't get my money for another week.
 
well we were supposed to get the keys on the 1st sept but something to do with the land registry is holding it up so we dont even have a date now its so frustrating

When the couple seperated they signed the house to one of them and never registered in the land registry so we have to wait for that to be done
God knows how long that will be

anyone any idea?
 
Well we got our keys yesterday at long last!!!:D

I would just like to thank everyone for all the help and advise on this site it really opened my eyes to stuff that i did not know.

Great site
Thanks
Pink
 
Many congratulations on getting your keys to your new home! Im still waiting but im sure it should happen soon!Well im praying that is will! Enjoy your first home!x
 
Pink!! That's great news! We can be house buddies again, I'm so glad everything worked out for you. Yay :D
 
nt00deep said:
With contracts signed on both sides, then you are safe. Not saying there won't be trouble. But any trouble that arises will not jeopardise the sale, just upset the timing.
Click to expand...

Incorrect.

When both parties have signed you have entered a legally binding contract. Does not mean the sale will actually go ahead. Either party can still pull out. This is a fact.

However, as you are in a contract you can sue the other party for damages.
 
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