• My House Buyer Is Stalling After Contracts Exchange. If She Pulls Out What Happens Next? And What Happens With The House I'm Purchasing?

    By Guest on 14th Jun 2016

    I understand a buyer who pulls out after exchange of contracts gets heavily penalised, which is what I'm worried my buyer may do. But what happens with the house I'm purchasing? At the end of the day I'm also a buyer but if my sale falls through I won't be able to raise the funds for purchase!

  • 1 Answers

    By Guest on 26/06/2016

    Unless the contract is conditional and you have not me the conditions you are liable for then you can keep the buyer's deposit (which you will have to pass on to your seller) and you can sue your buyer for any loss you suffer as a result of his failure to complete. This includes any losses your seller sues you for. If your seller does sue you however you will still be liable to him even if you cannot recover this from your buyer (for example because your buyer has no money).

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