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Hi, thanks for our enquiry. If you do not proceed and complete, you will of course lose your Deposit, I'm afraid. The Seller would also be entitled to ask you to complete, and if you do not, they could take you to Court and ask you to "perform the Contract" (ie ask that you pay the balance of the purchase price). This rarely happens as it will cost the Seller thousands of pounds to take any such Court proceedings, and normally a Seller will keep the Deposit and then they are free to re-sell the property to a third party. I hope this assists and sets out the legal position. If I have helped, I would be grateful if you could rate my answer. Kind Regards Al
Hi, I'm afraid not- it is up to any Buyer to investigate the legal title. The Seller/Auctioneer have not lied, by saying it is a building plot, as it is, subject to obtaining any required consent under the restrictive covenant. Sorry. Kind Regards Al
Hi, thanks for your reply.
I believe I have answered your original question. I am happy to assist further, if you could first of all rate my answer.