Hey there. We are in the process of buying a house and have agreed with the vendor to buy some of the contents. Closing was due to take place on 31st Oct however it didn't happen so we have put in a completion order of 28 days to the vendor. If it goes past this we will have to pull out as we have nowhere to live over the Christmas period and we would need to start renting again. The agreement to buy the contents is purely between ourselves and we haven't invloved our solicitors as to do so would mean adding these contents to the contract which we would then have to pay stamp duty on.
The vendor contacted me to advise me that he wanted a bank draft and that he wanted it prior to closing, as if he waited for us to give it to him on the closing date we might say that there was never any agreement and at that stage we would own the house and its contents.
I have agreed to organise the bank draft and to send him a copy of it and give him the original upon closing however my worry now is once issued, can it be cancelled if we end up pulling out. Can anyone advise me on this?
The vendor contacted me to advise me that he wanted a bank draft and that he wanted it prior to closing, as if he waited for us to give it to him on the closing date we might say that there was never any agreement and at that stage we would own the house and its contents.
I have agreed to organise the bank draft and to send him a copy of it and give him the original upon closing however my worry now is once issued, can it be cancelled if we end up pulling out. Can anyone advise me on this?