Completion Notice

N

N.I.H

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What are the penalties of failure to comply to a 28 day completion notice.
 
1. loss of deposit

2. liability for any deficit on re-sale by vendor
 
Im a purchaser and i sent the completion notice. What penalties are there for the vendor
 
I dont want to pull out, I want to buy the house at the agreed price. can i force the vendor to complete or sue for breach of contract. If I can sue what happens then?
 
yes i'm nearly sure you can sue for breach of contract and they pay heavy interest - not sure of exact terms though.
 
To complete the purchase, you sue for what is called specific performance of the contract. It is a little bit like an injunction - i.e. a court order compelling the seller to do something - in this case to go ahead and complete the sale.
 
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