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Original poster

Seller demanding cash as completion delayed

104 replies

Housebuyer2020 · 08/02/2021 18:39

We are in the process of buying a property..We the offered in mid October abs we had our mortgage by Mid November, I have been very proactive calling agents solicitors weekly to keep things on track.. searches sent out in December. Both party’s solicitors gave been slow.. and the vendors management company only sent out the pack in early January.I have been pushing for a fast completion and I was given the date for tomorrow. We asked the vendors if we could vidyut property before completion, they refused, so we asked for a video. Anyways I called solicitor this morning asking about completion for tomorrow. She turns around abs says the money hasn’t been released and the completion will be on 25 th of February... i was fuming but nothing I can do. The vendor,is also fuming and ha asked us to pay him £1000 or he is going to put it back on the market.. we reluctantly agreed, ( as he has done this to another seller before we put our offer in) now I’m concerned if there are any more set backs he will keep asking for money. I’m trying to get the exchange done tomorrow, it still worried can he pull out even after exchange??? Arrgghh so angry

OP posts:
BlueThistles · 11/02/2021 00:53

The Solicitor is WRONG ....

please do not do this... the Vendor can pull this sale and your £1K out of pocket ..

Im betting he has form for this...

when this is over I would be reporting your Solicitor to the Ombudsman 🌺

CatAndHisKit · 11/02/2021 01:56

I think many posters see it's an extra 1K - as I understood from OP in her last post, it's a deposit, and 'won't be added' to the agreed price. Hence solicitor advised that.

OP no he won't beable to withdraw after exchange as there are big penalties (also can't demand anything else as then you'll be both tied into a legal contract).

BlueThistles · 11/02/2021 02:04

Ive misunderstood... 🌺

get it all in writing though before paying anything

LunaHeather · 11/02/2021 02:09

@BlueThistles

Ive misunderstood... 🌺

get it all in writing though before paying anything

Have you misunderstood?

I'm reading this as the vendor wants £1000 before exchange.

He can easily pull out then, before exchange. Or suddenly demand an extra £5k before exchange.

OP you say he shafted the previous potential buyer?

This sounds all wrong. Also, they refused to let you view the property again before completion? That sounds dodgy.

BlueThistles · 11/02/2021 02:20

@LunaHeather

I thought I had misunderstood from what CatAndHisKit was saying ...

I do see totally the potential for the OP being ripped off... and I think the Seller has form ... its all really dodgy 🌺

SoEverybodyDance · 11/02/2021 02:35

Are you sure everything is kosher with the property? Sometimes people start playing games like this when they have something to hide... like some legal problems

Quartz2208 · 11/02/2021 09:07

That is fairly awful advice from your solicitor I wonder if this isnt a con to get the money then he walks away

Do not give it to him. Delays are common in exchange and completion

Gazelda · 11/02/2021 09:34

So you plan to pay £1k compensation today?
And also exchange today?
Why on earth would you do that? I guess it's cheaper than risking losing the property and the fees you've paid. Urgh, what a wanker.
Is your solicitor really advocating such immorality?
Can you switch it round - say you'll bacs the £1k over after exchange? This will prevent him from being able to ask for more.

Also, mAke sure all this is in writing.

Original poster
Housebuyer2020 · 11/02/2021 12:19

£1k transferred to solicitor, she’s holding it. We have exchanged just now.. she said she will
Hand over only after completion. Everything is going through both parties, the vendors solicitor requested money in writing asking it not be added sale price so we don’t have to pay Stamp duty( obviously nothing to do with vendors capital gain tax Hmm... we are set to complete last week of feb. Fingers crossed no more drama!!!

OP posts:
Original poster
Housebuyer2020 · 11/02/2021 12:20

This is our first.. and I’m too emotionally involved... the property is perfect in every-way apart from the vendor..!!! I think our solicitor just wanted to save me from heartbreak.. lesson learned don’t fall in love with property

OP posts:
pleaseChooseAnother · 11/02/2021 12:30

Aren't you going to be covered by the stamp duty holiday? If so, I'd be expecting it to be included in the purchase price as i don't think it will affect you?

gorillasinthemist · 11/02/2021 14:49

You probably won't have to pay any stamp duty as a FTB anyway, especially not with the current SDLT holiday.

I don't really know why you started this thread when every poster has said not to pay and you have paid anyway. I hope you enjoy your new house.

MrsAudreyShapiro · 11/02/2021 15:21

gorillas I think the thread has done OP some good in that she went through her solicitor rather than just handing cash over to the vendor.

Original poster
Housebuyer2020 · 11/02/2021 18:38

@gorillasinthemist I took on the advice from here but ultimately went with my solicitor’s advice. Yes it’s not the ideal thing to do, but I love the house too much to call his bluff... when we buy next time.., i definitely won’t be gushing at how much I love the house or communicating with estate agents..

OP posts:
SunshineCake · 11/02/2021 18:52

@Housebuyer2020

So we will transfer £1000 Tom to our solicitor before exchange..
Ridiculous.

If the EA wants you to pay it, and of course she does as they want the commission Hmm, then they can pay it.

You are being extorted.

SunshineCake · 11/02/2021 18:54

I wonder how many £1k he has had from doing this to others.

MeanMrMustardSeed · 11/02/2021 18:59

It’s a bit mad but not worth losing a dream house over.

LunaHeather · 11/02/2021 19:55

@SunshineCake

I wonder how many £1k he has had from doing this to others.
Well they have exchanged now, so he can't do it this time....
SunshineCake · 11/02/2021 22:29

He's already done it. He's getting is thousand quid for being a bully.

SunshineCake · 11/02/2021 22:29

His*

LunaHeather · 11/02/2021 22:39

@SunshineCake

He's already done it. He's getting is thousand quid for being a bully.
But OP is saying it's not an extra £1k.
SunshineCake · 11/02/2021 22:46

She said the grand had been transferred.

The solicitor saying it isn't another thousand is talking rubbish. He's asked for another grand. It has been transferred. He wants his money. It has to come from somewhere if they are cowed enough to pay it.

Affor · 11/02/2021 22:46

Hang if you've exchanged now then you definitely don't have to oh as he can't pull out without paying you compensation!

LunaHeather · 11/02/2021 22:49

@SunshineCake

She said the grand had been transferred.

The solicitor saying it isn't another thousand is talking rubbish. He's asked for another grand. It has been transferred. He wants his money. It has to come from somewhere if they are cowed enough to pay it.

Don't get me wrong, I think it's well dodge.

But the OP is saying it's not extra because of stamp duty and also mentioned vendor CGT.

Let's just hope it all works out fine.

thriftyhen · 11/02/2021 23:15

We have bought and sold a lot of houses. Never have I come across anything like this. I think you need to be very, very vigilant with this purchase and maybe seek out some extra legal advice.

Are you certain that the solicitor is legitimate and not in any way involved with the vendor in anything other than a professional capacity?