Compensation if seller or buyer pulls out of the sale

S

serg777

Guest
I am in a position where the vendor has suddenly decided they want to pull out of the sale. We have been about to exchange the contracts. I have already spent a lot of time and some money (property valuation fee, etc.) on this sale.

Could I claim from the vendor some compensation of the losses incurred - a refund of the fee paid for standard property valuation, etc. ?
 
No, these are the risks accepted by both parties - you have no contract with the vendor; if you had pulled out he would have to eat his losses (EA, advertising, legal, etc.)
 
Sorry but there is nothing that you can do. The same thing happened to me a few weeks ago after having a full survey carried out. All you can do is move on to another property.

Best of luck with your house hunting.


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