Cost to buyer of withdrawal from sale (no contract signed)

lff12

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I was to co-buy a property with a sibling who abruptly indicated that they wish to back out.
Contracts not yet signed, we had the bank survey done and mortgage offer letter received. Insurance not yet taken out but had the forms ready to go back.

What kind of costs would we expect to be incurred? (Obviously I expect my sibling to pay these in full as it is their decision and not made with good reason.) I would expect the holding deposit to be returned, the bank survey would have to be paid and the solicitors costs for portion of work done. Not pleased, but a little concerned as my name is on this and I would like to know in advance what to expect. We didn't use the usual family solicitor so is it worth me talking to my own solicitor to cover myself?
 
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Not pleased, but a little concerned as my name is on this and I would like to know in advance what to expect.

Be grateful they backed out now before you had both signed and difficulties arose later on.

Why would you talk to a second solicitor? Talk to the one you have engaged and get him/her to stop the buying process and to outlay costs at the moment to you with a view to looking at a final and complete bill as soon as possible. I presume your sibling is going to pay their half of the costs and that you won't have a fight there.

You are lucky... no contracts signed means no obligation to the seller and they cover their own costs. Nothing to do with you as you signed nothing,
 
You will have to pay for the survey but that should not be expensive.

The solicitor expects this and might not charge if you are planning to complete a purchase elsewhere. But if he has done a lot of work, he will charge.

Brendan
 
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