Change of buying party and extension to timetable - what are a seller’s rights?

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25 Jun 2021 11:08 by Edze Star rating. 1 posts Send private message

We are selling a house. The buyer signed the arras in his own name and paid the deposit, via the agent who deducted 50percent of the commission plus IVA. The buyer is now wanting to change to buying through a foreign(French) company. We do not object to this but getting the French company recognised means that completion date is likely to be passed. What are my rights? Can I simply walk away and keep the deposit monies? Can I ask for compensation if I agree to extend the timetable? We have been put to expense in moving out of the house, renting a property etc etc





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25 Jun 2021 14:42 by windtalker Star rating. 1787 posts Send private message

How much more time do the buyer's want you didn't say..you said that you had to move out into a rented property so you could complete the sale of your property ... surly you would need to rent anyway so why the big fuss over maybe a few weeks at most ... when you have a buyer hooked in these difficult Covid times.

 

 


 


This message was last edited by windtalker on 25/06/2021.



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25 Jun 2021 15:12 by Kavanagh Star rating in Oil Drum Lane Newcas.... 1106 posts Send private message

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Hello Edze and welcome to EOS

The purpose of a deposit contract is to legally set out the terms, conditions and rights of the buyer and seller. Why are you asking EOS members who have never seen the contract ‘’ What are my rights?’’.  If you do not understand the contract perhaps consider going back to the person who drafted it for clarification.



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27 Jun 2021 21:37 by gill_malouf Star rating in Stockport, Cheshire. 202 posts Send private message

Kavanagh you seem to know so much about legal issues! 

I assume that the contract that your talking about Edze is a standard one? If there is a set completion date and it goes beyond that I suspect you would have the upper hand. Are you not using a conveyancing solicitor? I know it's hard to know just who to trust.

 





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28 Jun 2021 02:53 by Kavanagh Star rating in Oil Drum Lane Newcas.... 1106 posts Send private message

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There is no such thing as a standard contract. Terms and conditions in a contract can vary. However a contract can be challenge in a legal court as being unfair, and that would be for a judge to decide and give his/her ruling.

‘’Suspect’’ is not a useful comment from anyone who has not seen the contract and is not legally qualified to give advice on such matters.



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28 Jun 2021 06:53 by gill_malouf Star rating in Stockport, Cheshire. 202 posts Send private message

But you have not mentioned if your an expert in any field??





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28 Jun 2021 08:07 by windtalker Star rating. 1787 posts Send private message

You can put what ever you like in a contract as long as Both parties agree to the clauses..so basically no such thing as a standard contract.





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