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Original poster

Getting out of house purchase after documents signed?

11 replies

adviceforfriendplease · 23/08/2024 19:03

Hi,

I'm posting on behalf of my friend who has recently bought a house with her husband but has changed her mind about the purchase due to her husband's behaviour. She has signed the deed, the contract, and the TR1 (this means nothing to me because I rent so I'm not familiar with these documents).

Can anyone advise if there's a way she can get out of this purchase? She's considering moving to her own place to rent with her son, without her husband. Is this an option for her or is it too late? The other thing she's considering is going ahead with the purchase and then buying her husband out so she owns it herself.

Can anyone advise?

Thank you.

OP posts:
LuckysDadsHat · 23/08/2024 19:04

If they haven't exchanged contracts she can pull out easily.

saveforthat · 23/08/2024 19:05

Has she paid a deposit and exchanged contracts?

Original poster
adviceforfriendplease · 23/08/2024 19:11

Ok so she doesn't think contracts have been exchanged yet and no money has been given yet. They were paying an additional deposit as well as the equity in her current home, she says that hasn't been paid yet but it's due to be this coming week.

OP posts:
MrsCarson · 23/08/2024 19:22

She needs to make a call to the conveyancing solicitor handling their side of the sale to make sure contracts are not exchanged yet and tell him she's dropping out to stop everything.

BarraNayk · 23/08/2024 19:24

This reply has been withdrawn

This has been withdrawn by MNHQ for breaking our Talk Guidelines.

Original poster
adviceforfriendplease · 23/08/2024 19:57

No she doesn't have a completion date

OP posts:
HettySunshine · 23/08/2024 20:03

All she has to do is tell her solicitor she is no longer proceeding. Her solicitors will let the seller's solicitor know. Job done.

Favouritefruits · 23/08/2024 20:05

You can pull out all thru way up to the day before you move technically! The money won’t be in the sellers account until then but it’ll still cost in fees.

LuckysDadsHat · 23/08/2024 20:30

Favouritefruits · 23/08/2024 20:05

You can pull out all thru way up to the day before you move technically! The money won’t be in the sellers account until then but it’ll still cost in fees.

They would also lose their deposit (if they pulled out after exchange) and can be sued for lost money by their buyers and the sellers of the property. It would cost them tens of thousands.

Kitkat1523 · 23/08/2024 20:37

Favouritefruits · 23/08/2024 20:05

You can pull out all thru way up to the day before you move technically! The money won’t be in the sellers account until then but it’ll still cost in fees.

Well if they’ve exchanged already there will be a hefty percentage to pay to the sellers…..will likely be tens of thousands

MathiasBroucek · 23/08/2024 21:28

LuckysDadsHat · 23/08/2024 20:30

They would also lose their deposit (if they pulled out after exchange) and can be sued for lost money by their buyers and the sellers of the property. It would cost them tens of thousands.

Show quote history

Tens of thousands. We explored delaying our completion when my dad died suddenly after exchange of contracts but the solicitor strongly advised us to go ahead

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