Does this sound ridiculous
Discussion
I am having issues with this guy buying my flat, we are at the point where we are ready to exchange on the property, but there is a liability on a 106 agreement. This has been going on for a couple of weeks now so I’ll give you the short of it (hopefully).
Basically when my development was built the council told my developers that they had to keep 26 trees, in the area. If these trees were removed a penalty of £250 per tree would have to be paid by the developers, bringing a total liability of £6500. If in the unlikely event that the developers go bust (the developers are Crest Nicholson) this liability would then have to be paid by the home owners. There are 58 properties total on the development meaning £112.06 per property would have to be paid if all the trees were removed.
The Mr X (guy buying my property) wants me to leave the sum of £2500 with my solicitor to cover the indemnity. Which is quite frankly ridiculous. My solicitor thinks so too. But he and his solicitor are not backing down, and will not give any indication as to where this sum of £2500 is coming from. So far I’m not backing down either, I’ve said as a good will I will leave £115 with my solicitors to over that flats indemnity which quite frankly I feel as very generous.
Now I am at a situation where I don’t know what to do. Has anyone had any experience in this?
Basically when my development was built the council told my developers that they had to keep 26 trees, in the area. If these trees were removed a penalty of £250 per tree would have to be paid by the developers, bringing a total liability of £6500. If in the unlikely event that the developers go bust (the developers are Crest Nicholson) this liability would then have to be paid by the home owners. There are 58 properties total on the development meaning £112.06 per property would have to be paid if all the trees were removed.
The Mr X (guy buying my property) wants me to leave the sum of £2500 with my solicitor to cover the indemnity. Which is quite frankly ridiculous. My solicitor thinks so too. But he and his solicitor are not backing down, and will not give any indication as to where this sum of £2500 is coming from. So far I’m not backing down either, I’ve said as a good will I will leave £115 with my solicitors to over that flats indemnity which quite frankly I feel as very generous.
Now I am at a situation where I don’t know what to do. Has anyone had any experience in this?
k it and remarket it frankly.
GarryDK said:
Well, I've given them my ultimatum we shall see what they come back with. I'll keep you updated.
Good luck.Sounds like the purchasers and their solicitors are cocks. Leave them £115 as goodwill!
Speak to the sellers you're dealing with as it seems you've already been delayed unnecessarily, and stress to them that you're not holding them up. They may well understand and be patient, but not if they're not kept informed.
vescaegg said:
Unless you are really really really desparate OP, back on the market ASAP.
If the buyer even slightly wants it, they will back down.
Dont play around with this clown.
Crest will not go bust for 1, and almost 25 times the amount you would ever have to pay is hilarious for 2.
This ^^^^^^^^If the buyer even slightly wants it, they will back down.
Dont play around with this clown.
Crest will not go bust for 1, and almost 25 times the amount you would ever have to pay is hilarious for 2.
There are so many cretins out there, aren't there? I can't believe (actually I can) between you, your agent and your respective solicitors this hasn't been sorted. What's the guy's motivation? Is it simply he's a numpty? I can understand, indeed witness regularly, buyers dicking around looking for ways to price renegotiate but this is just odd.
Best of luck.
Best of luck.
GarryDK said:
Well that is an option, the market is ok. The flats are selling but the problem is I don’t want to lose the house I am buying, we have got it for a steal and it’s in a great area. The other option I do have is to keep the flat and rent it.
How much of a steel? If it's more than £2,500 suck it up.Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff