Closing in 3 weeks - head wrecked

G

grawns

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Hi all

Anyone have any experience of buyer pulling out at last moment?

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Buyer stalling and Im not sure he will go through with it.
 
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Well has the buyer signed the contracts yet?
And have they paid the non-refundable 10%?
Usually the buyer signs first and then you do, and then you agree a final closing date.
If they have signed, then chances are the sale will go through, the buyer is just stalling for time to suit themselves -whether waiting for their mortgage to come through or something, you never know really.
It is a nerve-wracking process and it's never over till you get the call to say the funds have been transferred.
 
The contracts are signed and all conditions have been met on both sides. ( Although buyer did try to alter the contract after the fact for no good use or reason).

It's done and dusted but I just don't trust the guy to come good in the end and as he works in legal circles ( and is politically connected so I don't expect him to willingly forfeit the deposit) Its this mad game of poker that's been going on for 6 months now. He just doesnt play by the rules and it's unnerving to say the least.

I suppose I just want it to be over one way or the other :(

Anyone with similiar experience, insight or advice to offer, thank you please :)
 
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Well it happened, he pulled out today with just 10 days to closing. Am very p***ed off to say the least. Will wait to see what my solicitor has to say. He will try to get his deposit back I'm sure! I'm wondering can we sue him?
 
Surely if contracts have been signed and he pulled, you are entitled to keep the deposit?
 
I don't know? He is a very tricky guy and will do what he can to get it back. We have a copy of his mortgage approval which is good for another month so I really don't know what he will do. Can we force him to complete as he has changed his mind at the last minute? Unlikely but there has been a lot of abuse of trust and goodwill ( he was allowed to pay only a 3% deposit for instance (not my decision and against our solictors advice). Am most disgruntled :(.
 
Your solicitor should be able to offer you the correct advice. If you were in contract, then you should be entitled to retain his deposit. There's no way I'd be handing it back as he is in breach of contract - cheeky sod.
 
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