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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I and the seller have signed a contract to buy a house in ireland

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I and the seller have signed a contract to buy a house in ireland and now i have changed my mind. What are the consequences for me as the buyer breaking the contract.
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you.For now please let me know whether contracts have been exchanged please?Alex
Customer: replied 1 year ago.
Contracts have been exchanged
Expert:  Ash replied 1 year ago.
Its bad news I am afraid, its a contract which has been exchanged and if you pull out you can be sued for breach of contract.Indeed they can seek a Court injunction to make you complete. But you would be liable for all costs, expenses and interest etc.I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.Can I clarify anything for you about this today please?Alex
Customer: replied 1 year ago.
Is this a common occurrence?
What would be the sequence of events?
My solicitor has suggested that we allow the property to go back on the market with the seller's agreement and see if we can find another buyer.
We have already seen another place which would be much more suitable
Expert:  Ash replied 1 year ago.
You can try that, but as I have said you have signed a contract committing you.The seller can be bloody minded and make you go through with it. Sadly the decision of what to do is down to the seller and not you.But in any event you may be liable for the additional fees, interest etc.Does that clarify?Alex
Customer: replied 1 year ago.
It looks bad, I was under the impression we would lose our deposit but nothing worse.
Expert:  Ash replied 1 year ago.
Sadly not. They can make you complete if they want to. Its a legally binding contract to which you have agreed and committed to buy.I am sorry its not better news.Can I clarify anything else? Alex
Customer: replied 1 year ago.
When you say they can make us complete, does that mean a court Case?
Expert:  Ash replied 1 year ago.
It could be. They could seek a Court order making you.Does that clarify? Alex
Customer: replied 1 year ago.
If they threaten to do that can we then complete the purchase without having to go to court. Would there be extra cost involved?
Expert:  Ash replied 1 year ago.
Yes you could potentially. But there may be extra costs in terms of not completing straight away. Does that help? Alex
Customer: replied 1 year ago.
Just to clarify, all this applies in the Irish system?
Expert:  Ash replied 1 year ago.
Yes Irish system.Does that clarify? Alex
Ash and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Yes, thank you very much.
Expert:  Ash replied 1 year ago.
If I could invite you to rate my answer before you go today please, otherwise the site does not credit me for the time spent with you today. Thanks and good luck. Alex