Does this sound ridiculous

[GarryDK]

52classic said:

Couldn't your solicitor sell you (for them) an indemnity policy against the risk of Crest or all of the other homeowners going broke?

No. The indemnity only covers the 106 agreement if you don't find out the liabilities.

[pincher]

gottans said:

Sounds like a dick, talks like a dick, must be a dick.

Offer the £115 and give it a week until 5.00pm on Monday and then pull out. This will leave him with a loads of cost which will definitely be more than £115.

[pincher]

Any update OP?

[garycat]

I thought there was some kind of insurance policy that could cover covenants, liabilities etc like these. You pay a small one-off premium and that would cover the eventuality.

[Baldinho]

Tell him you're pulling the deal if he doesn't accept the £115. Sounds like he's a knob hoping you'll ultimately just knock £2.5k off the deal price to get the deal over the line or he's being advised by a lawyer without a commercial bone in his body. Stand firm.

[Baldinho]

PS are the trees actually there? If the development has been completed I doubt very much the original developer will come back to cut a few trees down...

[GarryDK]

pincher said:

Any update OP?

Basically they are not backing down. My solicitor has contacted Crest Nicholson asking for confirmation they would cover the liability etc.

garycat said:

I thought there was some kind of insurance policy that could cover covenants, liabilities etc like these. You pay a small one-off premium and that would cover the eventuality.

There is but you can only take it if you don’t know what the liability is.

Baldinho said:

PS are the trees actually there? If the development has been completed I doubt very much the original developer will come back to cut a few trees down...

The trees are all still there, mixture of old and new.

[Bill]

How much of a steal is the new place? Worth sucking up the £2.5k loss? (how long do they want the bond held for?) Or just tell the agent to put it back on the market.

[GarryDK]

Bill said:

How much of a steal is the new place? Worth sucking up the £2.5k loss? (how long do they want the bond held for?) Or just tell the agent to put it back on the market.

Well basically the home owners are getting divorced and want a quick sale. The problem I have is I don’t have £2.5k spare to just throw away. They want it held indefinitely.

[Bill]

There's your answer then. Tell the agent it's ridiculous and even if you had the money spare you wouldn't do it so it needs to go back on the market pdq. That'll get back to your buyers and sort it one way or another.

If they're being stubborn about something so daft I suspect they are looking for excuses to pull out.

[pincher]

Agree with Bill. Call their bluff with a short deadline on final decision - they either want it or they don't.

You could always proceed with the sale with the indemnity in place but the flat price increased by a figure of, say, £2500?
For clarity, I do not recommend this course of action, before I get shouted at!

[Laurel Green]

Agree to their terms on the condition of a £2,500 increase in the price of your property.

[GarryDK]

Buyers solicitors have partially backed down and are willing to accept in writing that Crest Nicolson will pay the liability.

[Bill]

Your writing, or CN's? Surely it's in the deeds? Bunch of arse covering numpties.

[pincher]

Again, I agree with Bill and his last sentence

[Bill]

[Simpo Two]

Having read this thread I conclude that the man attempting to buy your property is an idiot.

[TA14]

GarryDK said:

Just found out that there is actally 71 properties on the development. So the actual liablity is £91.54 per propery.

Wow, all of this about a possible one of charge. DOes he know that he'll have monthly charges of that order for council tax, power etc.?

Good luck!

[Baldinho]

PS once/if the sale completes go back and chop a tree down directly outside....

[pincher]

I just snorted at that!