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tdlawyer
tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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I have exchanged contracts on the sale of my house but I have

Customer Question

I have exchanged contracts on the sale of my house but I have now changed my mind and don't want to sell what can I do
Submitted: 3 years ago.
Category: Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Hello, thank you for your question. My name is Tony, I can answer this for you.

tdlawyer :

Once you have exchanged, you are legally obliged to sell. However, if you refuse to sell, you might be able to negotiate something with the prospective purchaser, such as paying him a sum in compensation.

tdlawyer :

Usually, this is the deposit amount.

tdlawyer :

However, you need to be aware that the purchaser could, if he wanted to, compel you to sell the property by seeking an order for specific performance from the Court.

tdlawyer :

Most people don't bother - they just take the deposit that has been paid and find somewhere else.

tdlawyer :

Are you there? Does this answer your question? Is there anything else you would like to ask me?

JACUSTOMER-veu1al90- : Is there nothing else I can do
tdlawyer :

Can you say that you were misled into the contract?

tdlawyer :

I guess it's unlikely...?

tdlawyer :

Are you there?

tdlawyer :

If this answers your question please remember to rate the answer for me.