Legal action on Uk property

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I invested in a property in the UK 3 years ago. I was to complete the purchase in May of this year. I was unable to get a mortgage so I could not complete. The company are taking legal action against me they have registered legal proceeding in the city court in Ireland and I have been told that the court case will be in London. Can I contest this to have the court case here in Ireland.

Also another question I have been told that a large number of people could not complete their purchase. The sales company sold a large number of apartments on the open market with very little loss and then they sold the remainder to themselves at 30 to 40% loss. How would this stand up in court as I was not given the chance of a fair market price.

Any comments would be appreciated
 
Sorry to here of your hassle.

I dont think you have any hope of having the case heard in Ireland as it relates to UK property it is likely the contract is subject to UK law. If though it might be an Irish developer as i have heard of one Irish developer in the UK taking this course of action.
 
If you have a valid contract to buy the property at the agreed price then you would seem not to have a leg to stand on. Look at it from the develper's point of view -- if the property had increased greatly in the interim, how would you feel if he tried to wriggle out of it?

A contract is just that, it locks both parties into an agreement to buy/sell at an agreed price. Your best hope is that he has inadvertently stepped outside the terms of the contract, i.e. unreasonable delay beyond the agreed closing date etc. You need to engage a lawyer asap.

In the event that the lawyer advises you as per above, your best bet is to negotiate with the seller. They won't really want to go to court and may agree to settle at a slight discount.
 

Hi Lollix
I know a contract has to be completed but how could I when I could not get a mortgage. They company have judgment against be in the London county court and I have 2 weeks left to pay 30K. I am able to get 10K together but the company refused this and I must up the offer.

Would this stand up in court some apartments were sold on the open market and more back to themselves.
My apartment purchase price 140K
Paid deposit of 14K
Property bought back by sales company 100K
Loss 26K

Similar apartment
Purchase price 140K
Paid deposit 14K
Sold on the open market 126K
Loss 0
I have proof of this.

They also have a bond taken out so that if purchasers failed to complete the bond company will have to pay 10% of the purchase price.

Can they sue me for 100% of their loss plus get 10% from the bond company.
Should I have been give the chance of a fair market sale ?

Sounds unfair. If they get judgment against me in Ireland and don't take me to court how long will the judgment last?
 
As others have stated, you need to take your contract to a lawyer ASAP.

Unless completion of the sale was conditional on you obtaining a mortgage then a court will probably decide your lack of a loan was irrelevant.
 
Platform, you need to get advice from professionals fast. You betray an astonishing lack of common sense/reality e.g. signing a contract without the wherewithal to complete it.

You need advice.
 
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