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propertylawyer
propertylawyer, Solicitor
Category: Property Law
Satisfied Customers: 280
Experience:  Property solicitor with expertise in commercial and residential property transactions.
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I own a small commercial building in London and I planned to

Customer Question

Hi
I own a small commercial building in London and I planned to sell it recently for 150000 pounds.I found a buyer and we agreed that he would pay 10000 pounds deposit to take the property off market.We went to Land registry and deed paperwork so he now owns 10000 worth of land.Now I decided not to sell the property for there is potential to turn it into residential.So I would like to know how I can get back full ownership and what rights that person has.
Thank you
Alex
Submitted: 9 months ago.
Category: Property Law
Expert:  propertylawyer replied 9 months ago.

Hi

Do you have copies of the contract/transfer and registered title which you can upload?

Customer: replied 9 months ago.
No,it wasn't a contract but some kind of agreement signed by me that I'm going to sell the property to that person for 148k and I don't have copies.It's still being processed by LR
Expert:  propertylawyer replied 9 months ago.

Difficult to advise without sight of the paperwork. But if the transfer is at the Land Registry it is too late. The transfer has completed.

Customer: replied 9 months ago.
I know,but can I keep the property and return deposit?
Customer: replied 9 months ago.
It's only tiny share of the land
Customer: replied 9 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  propertylawyer replied 9 months ago.

You can try to negotiate with the buyer and ask for the application be withdrawn, refund the money paid. If the buyer does not agree there is little you can do.

Customer: replied 9 months ago.
Can they force me to sell the hole property to them?
Customer: replied 9 months ago.
I am the owner
Expert:  propertylawyer replied 9 months ago.

Depends on what terms were in the agreement. As yet all I know I the buyer paid £10k for a small part of the land.

If the document which is at the Land Registry includes terms to buy the remainder at a later date then the buyer can possibly do so.

Can you not get a copy of the document? Try to get a copy from the buyer or land registry.

You should have a copy to have a record of shat you agreed with the buyer.

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