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Started by ea123, 12-07-2016, 16:24 PM
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  • Deposit Forfeit
    by Goatrote
    Hello all,

    A sale that looked dead because of the virus might be going head. We are in the middle of three-property chain.

    I would like to know our legal position should we exchange and then our buyers' mortage falls through before completion.

    Do we both have to...
    28-05-2020, 16:59 PM
  • Reply to Deposit Forfeit
    by Lawcruncher
    Pass on that one.

    You can minimise any problem by having a short period between exchange and completion and remove it by exchanging and completing on the same day....
    30-05-2020, 07:36 AM
  • Reply to Deposit Forfeit
    by Goatrote
    Thanks for your response. I know failure completions are unusual, but so are global pandemics, was my thinking. But I take the point that there will be no exchange until probate is granted so it's not so much of an issue. When you say mortgage offers are valid for three months, does that include if...
    29-05-2020, 22:51 PM
  • Reply to Field problem
    by Jon66
    Verbal permission counts.
    29-05-2020, 22:18 PM
  • Field problem
    by U01lsn
    We have a semi rural house which is part of a Hamlet once all owned by my wife’s Nanna and Grandad.
    My wife had used part of this land for 25 years (Her brother had it for 15 years previous to her) to house her animals with a verbal agreement that she could use it until she gave up keeping...
    29-05-2020, 12:23 PM
  • Reply to Field problem
    by U01lsn
    Does permission have to be written or does verbal count?...
    29-05-2020, 17:46 PM
  • Reply to Field problem
    by Lizbeth
    Only a thought, but could you possibly stretch - perhaps with help from other family members? - to buying the house next door AND the field? Then you could resell the house, but keep the field.

    Only thing, the price 'might' go up....there is the element of a 'marriage value' in the house/field...
    29-05-2020, 16:47 PM
  • Reply to Field problem
    by Jon66
    As permission was given for the use, an adverse possession claim would be ruled out.
    29-05-2020, 13:13 PM
  • Reply to Deposit Forfeit
    by Lawcruncher
    Surely not!

    When I was working someone in the office was selling to someone else in the office. The agent rang up the seller and said the buyer was threatening to pull out if there was not an immediate exchange. The agent then rang up the buyer and said the seller was threatening to pull...
    29-05-2020, 09:22 AM
  • Reply to Deposit Forfeit
    by Tipper
    I would suggest that the agents are talking up the exchange in an attempt to protect their commissions...ignore them!

    Your transactions are only between you and your conveyancer to decide, the agent merely introduced the parties.
    29-05-2020, 09:06 AM
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