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Joshua, Lawyer
Category: Law
Satisfied Customers: 26070
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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Last year I was about to sell my hotel/restaurant. The intended

Customer Question

Last year I was about to sell my hotel/restaurant. The intended buyers on paying the deposit would only go through with this if I dropped the price £400,000 The financial situation I was in I had to accept. Before the sale was complete they insisted I empty everything out. On the day of completion they would only complete if I dropped the price another £450,000. There was no way I could accept this. I could not re-open as the hotel was now a shell. Every contact I have had were asking ., What was your solicitor doing to let you empty everything out before the money had been exchanged. I had no income now of course so the loan/mortgage company took possession of the hotel and I have ended up with nothing and having to move into a rented flat

I would appreciate your comments on this

Lesley Winsland
Submitted: 4 years ago.
Category: Law
Expert:  Joshua replied 4 years ago.

Josh-2010 :

Thanks for your question. Please kindly RATE my answer when you are satisfied

Josh-2010 :

Was exchange and completion to happen simultaneously or did you exchange contracts prior to completion please?