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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10916
Experience:  30 years as a practising solicitor.
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I won a bid on a property in Scotland. I have secure the loan.

Resolved Question:

I won a bid on a property in Scotland. I have secure the loan. I asked the auction house to secure the loan.
The contract was vague. I asked 28 days to complete the transaction. I secured the loan and and contacted the auction house. They told me someone has offered a bid and the vendor accept.
I wasted 10 days. I want the property and I want them to honor the bid
Help
Submitted: 2 years ago.
Category: Scots Law
Expert:  JGM replied 2 years ago.
Thank you question.
If the contract was concluded in writing the vendor is bound by it. If, as I suspect here, it wasn't, the vendor isn't bound by your bid and can sell to someone else and there's nothing you can do about it.
Happy to discuss further.
I hope this helps. Please leave a positive response so that I am credited time.
Expert:  JGM replied 2 years ago.
You have rated a bad service when your question was answered correctly. What further information do you need?
Customer: replied 2 years ago.
the question was based on auction bidding and the rights of the buyer, when the auction house did not send an original copy not a fax.
I secured a loan without the official documents I and went back to them within 2 weeks under 28 days
Yesterday the sold the property I have wasted two weeks. Do I have any recourse against the auction house.
Could they sell it to another bidder even though I won the bid. What is the difference in Scottish and England laws on bid as the auction house. Any property must be evidence in writing.
I want to know what could I do how could I make them honor their contract with me
Expert:  JGM replied 2 years ago.
I'm not quite sure what the relevance is to your reference to the difference between Scots and English law. I am a Scots solicitor but I believe that on both jurisdictions formal written contracts are needed to bi d both buyer and seller.
If you didn't have a formal written contract because you were still seeking a loan then there is no contract to honour and you have no recourse against the auction house and can't insist that they sell to you.
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10916
Experience: 30 years as a practising solicitor.
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