Buying house, seller passed away after signing contracts

erinoc

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Hi,

I'm not sure where to ask this but can't find an answer online elsewhere.

We signed a contract to buy a house, the seller also signed it but unfortunately passed away suddenly before the loan was drawn down.
What does this mean? Will we still get the house? And if so, when could we expect to get the keys?
 
You need to talk to your own solicitor.

However, in broad terms:

1. If you've signed the Contracts and , if the Vendor also signed, then there is a binding Contract in place.
2. If you really want to go ahead, then the Vendor's estate is obliged to complete but they can only do that when a Grant of Probate issues to the Vendor's estate and that is going to take quite some time in the current situation.
3. If the Vendor did not sign the Contracts, then there is no binding Contract and you can walk away. Or seek to negotiate on the price?
4. You won't be getting the keys any time soon unless the Vendor's estate is willing to let you in as a tenant or as a caretaker- a lot of risks on both sides.

mf
 
Hi,

I'm not sure where to ask this but can't find an answer online elsewhere.

We signed a contract to buy a house, the seller also signed it but unfortunately passed away suddenly before the loan was drawn down.
What does this mean? Will we still get the house? And if so, when could we expect to get the keys?

I'm not sure what your living situation is at the moment, and i'm not a property expert, but i think most observers are predicting a sharp decline in property values and rents. This sale falling through could be a blessing in disguise for you. If you proceed with it and values fall, you will be in negative equity fairly quickly. Not a place you want to be in an economy with increasing unemployment.
 
happy to be corrected but if contracts are signed by all parties, the contract stands and the sale will go ahead. Unless there’s something In the contract specifically tackling this scenario.
 
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