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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3671
Experience:  Solicitors 2 years plus PQE
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seddons lawyers on first meeting said we have a slim chance

Customer Question

seddons lawyers on first meeting said we have a slim chance of canceling the contract as it was signed with no conditions attached only a verbal agreement that was not confirmed in writing and even though property sold for half its true value and we nievely beleived the buyer would confirm the agreement in writing the judge may treat it as a sharp purchase unless we can give them more we are at a lose can you give any further advice pls
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Hi,
Thank you for your question and welcome.
Are Seddons your lawyers?
Do you have a valuation of the property just before it was sold?
Kind regards
AJ
Customer: replied 2 years ago.

seddons are our lawyers at present yes we have a valuation

Expert:  Alex J. replied 2 years ago.
Hi,
Thank you.
Is there a hearing date set?
If you already have lawyers dealing with this then it is difficult for me to interfere. I would only recommend that you use the valuation supported by a witness statement detailing when the verbal agreement was made to show that there was no reason why you would have sold the property at this price.
Thinking outside the box (although I am only putting an idea out as I do not have the benefit of papers) - you could potentially use a defense against the buyer's claim of "promissory estoppel" - you acted in detrimental reliance on the promise that you would get half his profits if you sold him the property at half the price.
I look forward to hearing from you.
Kind regards
AJ
Customer: replied 2 years ago.

please keep this open as you are giving us good advice and we need all the help we can thank you a j

Expert:  Alex J. replied 2 years ago.
No problem.
I wish you the best of luck.
Kind regards
AJ