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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11745
Experience:  30 years as a practising solicitor.
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I had arranged a private sale of my house. The buyer submitted

Resolved Question:

I had arranged a private sale of my house. The buyer submitted his offer through both solicitors which I accepted again through my solicitor... completion of missive date was set for 1st Nov 2013 but nothing happened until 4 days later when I received an e-mail from the buyer telling me that he was not going ahead because of lack if funding. surely his solicitor should not have made the offer on his behalf if funding was not in place and is there anyway I can be compensated for this. As you can imagine Iam very angry
Submitted: 4 years ago.
Category: Scots Law
Expert:  ajlaj01 replied 4 years ago.
Hi,

Thank you for your question and welcome.

Did you exchange contracts with the payment of a deposit?

Kind regards

AJ
Customer: replied 4 years ago.

no conrtacts were signed only my accecptance of the offer and no payment was made

Expert:  ajlaj01 replied 4 years ago.
Hi,

Thank you.

I am afraid you will have no right to compensation. S.2 of the LAw of Property (Miscellaneous Provisions) Act 1989 state that contracts for the sale of land must be made in writing. http://www.legislation.gov.uk/ukpga/1989/34/section/2

A verbal offer and acceptance is not sufficient to create any form of legal obligation. There is also no obligation to negotiate in good faith under English.

The only way to get compensation would be prove that there had been a fraudulent activity or the solicitor had brought the profession to disrepute then you may have a complaint against the solicitor but this could only be made to the Legal Ombudsman. www.legalombudsman.org.uk/‎

Potentially your solicitor also should have advised you to ask for proof of funds.

I look forward to hearing from you.

Kind regards

AJ
Customer: replied 4 years ago.

it was not a verbal but a written offer does tha tmake a difference

Expert:  ajlaj01 replied 4 years ago.
Hi,

Thank you.

My apologies but it has just been brought to my attention that this a Scottish Land Law related matter.

I am going to opt out and refer this to the Scottish Law experts.

Kind regards

AJ
Expert:  Nicola-mod replied 4 years ago.
Hello,

I will move this to Scots Law for you. One of our Scots law professionals should be able to assist you.

Thank you,
Nicola
Expert:  JGM replied 4 years ago.
Thank you for your question.

I am a Scottish solicitor and will deal with your question.

I am sorry to hear of this. It happens all too oftener err loans are much harder to get. Most property offers are submitted subject to survey and subject to finance. There is no enforceable contract under the law of Scotland until these conditions are removed from the contract and the missives tied up unconditionally in writing by exchange of letters between the parties' solicitors.

So if there is a concluded missive you can sue for any losses. If there is no concluded missive you can't and your only option is to remarket the property.

Happy to discuss further.

I hope this helps. Please leave a positive response so that I am credited for my time.
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11745
Experience: 30 years as a practising solicitor.
JGM and other Scots Law Specialists are ready to help you