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Ash
Ash, Solicitor
Category: Property Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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Can i sell on a property once i exchange on it. to another

Resolved Question:

can i sell on a property once i exchange on it. to another party?
Submitted: 1 year ago.
Category: Property Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you.
No. Once you have exchanged contracts you are committed to selling. If you do not, then you can be sued for breach of contract and responsible for all costs associated with that loss. Further the other side can get an order making you go through with the sale.
Exchange is a binding contract. 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
Ash and other Property Law Specialists are ready to help you
Customer: replied 1 year ago.
Hi Alex,I understand my obligations. My question is Im buying from a developer at price A and selling to my clients at price B. Can I do this ie exchange with him at once price and then sell to them at another?
Customer: replied 1 year ago.
not on completion but on exchange?
Expert:  Ash replied 1 year ago.
No you can't.
Exchange is the contract.
Alex
Customer: replied 1 year ago.
are you going to call me?
Expert:  Ash replied 1 year ago.
Yes do you have a number?
Customer: replied 1 year ago.
***********
Customer: replied 1 year ago.
*********** is my mobile
Expert:  Ash replied 1 year ago.
I will call you shortly.
Alex
Customer: replied 1 year ago.
ok

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