I'd really welcome some advice. We are selling our flat and our buyers have had the survey done but no contracts or completion date so far. We hoped to find something to buy ourselves but have seen nothing suitable and I am not hopeful of finding anything before Christmas now as it's gone very quiet. We could let the sale proceed and move into rented but a) this would be incredibly expensive, more than twice what we pay in mortgage and we'd have to commit to a minimum six month lease. b) we would lose our existing mortgage which is a very good deal and which we were hoping to port across to our new house...the transaction would have to be simultaneous to keep the mortgage. I truly hate to let our buyers down and they will be out of pocket on the survey/solicitor fees but I am starting to feel panicky that by trying to do the right thing and letting the sale go ahead I'm possibly making a big financial mistake. We need to be in our new area by January to apply for schools, so if we did pull out of this sale I'd probably rent out our flat and find something to rent in the new area (the income from renting our flat would more or less cover the cost of renting in the new area). Does this seem like a reasonable course of action? What fees/penalties will I be accountable for if i do pull out of the sale? Can anyone suggest an alternative?
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Would it be awful to pull out of selling my flat?
12 replies
matildawormwood · 26/10/2012 22:39
OP posts:
sparkle9 ·
27/10/2012 08:11
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