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House sale falling through

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  • 04-10-2010 6:33pm
    #1
    moving_home
    Closed Accounts Posts: 517 ✭✭✭


    Looking for a bit of advice please ...

    Myself and the OH put an offer in on a house last April. It turns out some work needed to be done on it for planning regulations - apparently to the tune of €10k. This was a private sale between us and the Vendor as we knew each other so didn't go through EA's. The Vendor wanted us to pay for half the works to be done but we said no as we felt these were his costs to put the house in a saleable condition.
    When we put the offer in, they were just about to take the house off the market and rent it out again.

    There have been various delays along the way and loads of little annoying things (including the fact that we would have been living beside said Vendor who we weren't liking too much as he would not fix ANYTHING on the snag list)

    In light of all the obstacles to this sale, the fact that house prices have dropped so much since April, all the messing about by Vendor and all that is happening with AIB, Anglo etc we decided to pull out of the sale. We decided against letting the solicitor tell him as we said we would give the courtesy of telling the Vendor ourselves and he reckons he is going to sue us for loss of rent for the past 6mths and the cost of the works done.

    Spoke to the solicitor this morning and she said that alot of sale agreements fall through at the stage and there is nothing to stop us pulling out and will be ringing her again tomorrow.

    Just wondering if anyone has been through this or knows the legalities of this?


Comments

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    #2
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    AS long as you did not sign a contract to buy you have no legal obligation to go forward with the sale.Many people are dropping out of house purchases because of falling prices,eg in the last year i have seen prices of apartments 1bed going down to 90k in some areas.IT would make sense for most people to rent ,put off buying for 2 years til nama is complete or the market stabilises.
    HOUSE x in dublin, now will probably be 20 per cent cheaper in 2012.
    All the indicators point towards further price decline at least in the next 3 years.


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    #3
    3DataModem
    Registered Users Posts: 3,994 ✭✭✭3DataModem


    moving_home wrote: »
    Spoke to the solicitor this morning and she said that alot of sale agreements fall through at the stage and there is nothing to stop us pulling out and will be ringing her again tomorrow.

    Just wondering if anyone has been through this or knows the legalities of this?

    Once you've not signed a contract... there is nothing stopping you pulling out with no liability. Your solicitor is correct; the vendor hasn't a leg to stand on.

    Good luck with whatever house you do find.


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    #4
    Dymo
    Registered Users Posts: 1,561 ✭✭✭Dymo


    Firstly I think your right pulling out of the sale but I can also see the vendors point of view of losing the rent for the 6 months. Where it could become little bit messy is where their was no agent involved. If there was an agent involved then he would have no case as the house was officially up for sale but if he can prove that he lost the rent because of your attitude to the sale and claim that every thing was your fault then he may have a case.

    Let him blow stream out his ears for a while, he had a buyer that didn't work out happens all the time nothing new here and when dealing with property their is no oral contract it has to be in writing.


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    #5
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Dymo wrote: »
    Firstly I think your right pulling out of the sale but I can also see the vendors point of view of losing the rent for the 6 months. Where it could become little bit messy is where their was no agent involved. If there was an agent involved then he would have no case as the house was officially up for sale but if he can prove that he lost the rent because of your attitude to the sale and claim that every thing was your fault then he may have a case.

    .

    No he doesnt !! No contract no case. House sales fall through all the time. Sellers cant sue for their legal costs for example where a house is sale agreed and then falls through.

    This is no different.


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    #6
    moving_home
    Closed Accounts Posts: 517 ✭✭✭moving_home


    Thanks for all the advice guys. Spoke to the solicitor on Tuesday and she laughed and said he hadn't a leg to stand on. He may still try to sue us but apparently no solicitor worth their salt would take this case on.

    All the delays were his fault anyways - we had a mortgage and would have been ready to move in May.

    We have also figured out that legally he couldn't rent out the house anyways so can hit him with that if he does try anything.


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