House purchase looks likely to collapse, where do i stand?
Discussion
To cut a long story short, we are currently in rented property and late last year we were told the landlord wished to sell the property, so we decided to try and buy somewhere.
End of November we had offer accepted on house, by beginning of January we had done all paperwork, and by February we paid the fees, deposits, etc, all bills settled, and we were asked what dates would suit us.
Turns out there's been a cock up with an LPE1 form on the house that our seller wishes to purchase, they sent an out of date form, and so it looks like that process will have to be started again.
Our landlord served notice on us in January and we were meant to be out by next week but the landlord agreed to extend it by a week, and may possibly be open to a bit longer, but I'm pretty sure he wont want us hanging around much longer.
In the meanwhile we still have no completion date, and we're facing the prospect of this LPE process starting again, but the fact is we don't have the time anymore, so I've had to tell the seller they'll have to move out and break the chain (we're at the bottom of chain so in a strong position) and let us have the property or give us a completion date by end of next week.
I am expecting the seller to refuse (just like they did last time we suggested it), and the estate agent suggested we should go into airbnb (why the hell should we? It's not our problem and we're first time buyers!) - so I am 99% sure the deal is off now.
I just want to know where i stand regarding fees, can I get any of it back or am I screwed?
End of November we had offer accepted on house, by beginning of January we had done all paperwork, and by February we paid the fees, deposits, etc, all bills settled, and we were asked what dates would suit us.
Turns out there's been a cock up with an LPE1 form on the house that our seller wishes to purchase, they sent an out of date form, and so it looks like that process will have to be started again.
Our landlord served notice on us in January and we were meant to be out by next week but the landlord agreed to extend it by a week, and may possibly be open to a bit longer, but I'm pretty sure he wont want us hanging around much longer.
In the meanwhile we still have no completion date, and we're facing the prospect of this LPE process starting again, but the fact is we don't have the time anymore, so I've had to tell the seller they'll have to move out and break the chain (we're at the bottom of chain so in a strong position) and let us have the property or give us a completion date by end of next week.
I am expecting the seller to refuse (just like they did last time we suggested it), and the estate agent suggested we should go into airbnb (why the hell should we? It's not our problem and we're first time buyers!) - so I am 99% sure the deal is off now.
I just want to know where i stand regarding fees, can I get any of it back or am I screwed?
TameRacingDriver said:
To cut a long story short, we are currently in rented property and late last year we were told the landlord wished to sell the property, so we decided to try and buy somewhere.
End of November we had offer accepted on house, by beginning of January we had done all paperwork, and by February we paid the fees, deposits, etc, all bills settled, and we were asked what dates would suit us.
Turns out there's been a cock up with an LPE1 form on the house that our seller wishes to purchase, they sent an out of date form, and so it looks like that process will have to be started again.
Our landlord served notice on us in January and we were meant to be out by next week but the landlord agreed to extend it by a week, and may possibly be open to a bit longer, but I'm pretty sure he wont want us hanging around much longer.
In the meanwhile we still have no completion date, and we're facing the prospect of this LPE process starting again, but the fact is we don't have the time anymore, so I've had to tell the seller they'll have to move out and break the chain (we're at the bottom of chain so in a strong position) and let us have the property or give us a completion date by end of next week.
I am expecting the seller to refuse (just like they did last time we suggested it), and the estate agent suggested we should go into airbnb (why the hell should we? It's not our problem and we're first time buyers!) - so I am 99% sure the deal is off now.
I just want to know where i stand regarding fees, can I get any of it back or am I screwed?
What fees are you referring to?End of November we had offer accepted on house, by beginning of January we had done all paperwork, and by February we paid the fees, deposits, etc, all bills settled, and we were asked what dates would suit us.
Turns out there's been a cock up with an LPE1 form on the house that our seller wishes to purchase, they sent an out of date form, and so it looks like that process will have to be started again.
Our landlord served notice on us in January and we were meant to be out by next week but the landlord agreed to extend it by a week, and may possibly be open to a bit longer, but I'm pretty sure he wont want us hanging around much longer.
In the meanwhile we still have no completion date, and we're facing the prospect of this LPE process starting again, but the fact is we don't have the time anymore, so I've had to tell the seller they'll have to move out and break the chain (we're at the bottom of chain so in a strong position) and let us have the property or give us a completion date by end of next week.
I am expecting the seller to refuse (just like they did last time we suggested it), and the estate agent suggested we should go into airbnb (why the hell should we? It's not our problem and we're first time buyers!) - so I am 99% sure the deal is off now.
I just want to know where i stand regarding fees, can I get any of it back or am I screwed?
Glosphil said:
You're screwed, although your solicitor may waive his fee if you use him for your purchase of another house - it happened to us.
Thought so.... but noted.Jefferson Steelflex said:
If you're in a strong position then rather than suggesting the seller completes, you could insist and see if they buckle on threat of pulling out. The question is, do you really, really want to give up the house and all of the cost for a month or two of aggro?
That is the ultimatum they have as it happens. I have said to them they can either give me a completion date by the end of next week, or they can instead plan to move out and find accommodation, break the chain and let us have the property.I don't see why they wouldn't do this, we haven't caused this issue. She apparently REALLY wants the sale to go ahead, her partner is working away and she has no kids, so why could she not find alternate accommodation? But no, the last time we suggested that, WE were told we should AirBNB or Hotel it... don't have the money for that so no... and why should we?
I have however emailed my landlord to see if he's open to the possibility of us staying longer, but rest assured, if he is good with that, then I will not be telling the seller that.
Sarnie said:
What fees are you referring to?
Mortgage arrangement fee, searches, solicitors costs, stamp duty (I would assume we will get that back at least)...If your mortgage doesn't complete then the mortgage arrangement fee would be refunded if you've paid it upfront?
Similarly, stamp duty would be refundable as the transaction wouldn't have completed.
Searches would not be refunded as those are costs charged to the solicitor.
The solicitors may still expect payment or may defer it to another purchase......
Similarly, stamp duty would be refundable as the transaction wouldn't have completed.
Searches would not be refunded as those are costs charged to the solicitor.
The solicitors may still expect payment or may defer it to another purchase......
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