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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10772
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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A small woodland was placed on the market. An offer was received

Customer Question

A small woodland was placed on the market. An offer was received and accepted, neither the offer or acceptance was 'Subject to Contract'. As the seller I advised other parties that the property had been sold. Is the purchaser bound to proceed given it was not STC could they be liable for my solicitors costs.
Submitted: 2 years ago.
Category: Property Law
Expert:  Aston Lawyer replied 2 years ago.

Hello and thanks for using Just Answer.

I am Al and am happy to assist you with your enquiry.

I am afraid that only once Contracts have been signed and formally exchanged between the parties, via their respective Solicitors, is anything legally binding on either party.

As such, although you may have received an offer in writing, it still remains "subject to Contract" until the Solicitors have formally exchanged Contracts.

Therefore, as it stands, either party is free to withdraw from the transaction without any penalty.

I am sorry this is not the answer you were looking for, but it sets out the legal position.

Kind Regards