What happens if vendor pulls out of house sale?

[Teeley]

We are sale agreed on a property. Contracts have been signed by both parties. We've now spotted something in the contract that benefits us but that the vendors aren't happy with (they signed contract without reading through it properly). The value of this ''issue" is €6,000 approx.
Can the vendor pull out of the sale at this point? The closing date is in 2 weeks.
If they do will our 10% deposit be returned? Would they be liable for our solicitors fees thus far?
Thanks

 

[Brendan Burgess]

No, they can't pull out.

But if there is a mistake in the contracts, you should try to come to some arrangement over it.

If you want to stick them to it, you can. They can sue their solicitor if he should have seen it.

Brendan

 

[SirMille]

Best if you try to resolve the issue amicably, however if they do not relent, the law is your expensive friend in this case.

 

[Leo]

You can take an action for Specific Performance of the contract, your solicitor will advise. Even the threat may be enough to encourage them, but as others have said, if you can come to an arrangement that would be satisfactory to both parties, that would be ideal.

How would you feel if the issue was in their favour? If you stick it to them, they could let you commence proceedings and drag things out for a few months before relenting and closing, negating most of that gain for you in additional legal fees.