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Stuart J
Stuart J, Solicitor
Category: Law
Satisfied Customers: 22401
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street Practice
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Hi there, we were due to buy a house and on the day of exchange

Customer Question

Hi there, we were due to buy a house and on the day of exchange the seller pulled out to the point where we were going to exchange and complete on the same day, with monies released from the bank. Obvioulsy we have incurred mortgage costs, survey, and conveyancig costs. Can we sue for costs?

Many thanks, Kevan
Submitted: 3 years ago.
Category: Law
Expert:  Stuart J replied 3 years ago.
Did you actually exchange?
Customer: replied 3 years ago.

No we didnt

Expert:  Stuart J replied 3 years ago.


In a nutshell, there is nothing you can do.
There was no contract entered into for you to you to buy the house, and
therefore any costs that you incur, you have to take on the chin.

It is always a danger when exchanging and
completing on the same day that people can have removal vans etc booked, which
ultimately are simply not needed, but often have to be paid for.



The question is very common and I speak from
personal experience, because it happened to me a few years ago where the buyer
simply changed his mind after I had done survey and searches etc.



The question is very common and I'm afraid
that there is no remedy to assist you.



I appreciate that this is not the answer you
wanted, but there is no point in me misleading you



Can I help further?



Please bear with me today because I will be
online and off-line



Please dont forget to positively rate my
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answer.

The thread remains open. Thanks

Stuart J, Solicitor
Category: Law
Satisfied Customers: 22401
Experience: PGD Law. 20 years legal profession, 6 as partner in High Street Practice
Stuart J and other Law Specialists are ready to help you
Customer: replied 3 years ago.

Thanks very much, I thought as much. One last question; can I sue him through the small claims court at all as in essence it was a "verbal" contract?

Expert:  Stuart J replied 3 years ago.

I'm afraid under the Law of Property Act 1925 , which is still good law, the contract must be in writing and signed by both parties.

It is not deemed to be signed by both parties until it is exchanged even though you may have signed your respective parts

If you take this to the Small Claims Court, you will lose.

Verbal contracts, although enforceable, are not enforceable in property contracts

Sorry

Customer: replied 3 years ago.

Thank you, XXXXX XXXXX we need to review how property is purchased in this country; its unfair and costly. Assuming there is nothing else we can do?


Kind regards, Kevan

Expert:  Stuart J replied 3 years ago.

The situation is different in Scotland, but I am afraid that in England, Wales and Northern Ireland, until contracts are exchanged, there is no contract.

There has been talk of reviewing the process for years , and all we got was the ill-fated home information Pack.

It would be different if the Seller provided the searches and the survey , but there is an issue then regarding has the benefit of them, if they are flawed or incorrect. . The buyer cannot sue whoever prepared a search or a survey if it was not done for them but was done for the Seller.

It has been the subject of many long debates and meanwhile , , the situation remains as it is.

I am sure that your solicitor has given you exactly the same answer , as I have done.

Please dont forget to positively rate my answer
service (even if it was not what you wanted to hear) and I will follow up any further
points you raise for free. If you don't rate it positively, then the site keep
your deposit and I get 0 for my time.

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