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Sale Purchase Likely To Fall Through - Seller In Dispute

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Hi,

I have been in the process of buying a flat for the last 3 and half months. However the seller has both changed their mind about certain issues and also will not disclose information we need.

Firstly, we were assured that there was no onward chain but when all of the necessary conveyancing procedures were reaching the stage to exchange contracts we were told we couldn't exchange until the seller had exchanged on a place that they were trying to buy. Which has left me living on floors for the last month.

On top of that, there was one enquiry left unanswered regarding an undertaking to settle substantial service charge arrears. No answer was forthcoming through the solicitors but the estate agent assured us that the seller was aware of the arrears and was willing to pay them back.

At the last minute (i.e last Friday) we were told that the seller was in a legal dispute and was not willing to pay all of the arrears until that dispute was resolved. They were willing to give the money to their solicitor to hold in trust to pay when the dispute was resolved. Obviously, as this was new news we requested more information - simple things like who was involved in the dispute, what was it about, how long had it been going on and most importantly what implications this would have on us should we purchase the property.

The seller refused to answer our enquiries and believed we should just purchase with no undertaking that all arrears will be settled or any information regarding dispute (but that their solicitor was holding the funds) and also issued us a deadline of two days to exchange contracts.

We have said that is too much of a risk (it's a leasehold as well so the management company can forfeit a lease on no notice if they believe a property to be in arrears) to proceed without more information and if we don't get it we'll withdraw.

Are we being unreasonable? It seems like a big risk to take to proceed. We've invested a substantial amount of time and the associated costs in this - is there any advice you would have for what to do??

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<snip>

Are we being unreasonable?

No

Hi,

<snip>

It seems like a big risk to take to proceed. We've invested a substantial amount of time and the associated costs in this - is there any advice you would have for what to do??

Find somewhere else; write this one off to experience.

Good luck

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the management co won't consent to the assignment of the sub-lease (your lease) till the arrears are paid and they won't consent to the transfer of a share in the management co (if there is one) without the arrears being paid.

you are being p1ssed about. Tell the seller to stop arsing around and pay it and provide with confirmation from the management co it's settled in full before 1200 Monday or you'll walk. Your seller is being an idiot and trying to involve you in his battles. Don't do it.

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Hi,

I have been in the process of buying a flat for the last 3 and half months. However the seller has both changed their mind about certain issues and also will not disclose information we need.

Firstly, we were assured that there was no onward chain but when all of the necessary conveyancing procedures were reaching the stage to exchange contracts we were told we couldn't exchange until the seller had exchanged on a place that they were trying to buy. Which has left me living on floors for the last month.

On top of that, there was one enquiry left unanswered regarding an undertaking to settle substantial service charge arrears. No answer was forthcoming through the solicitors but the estate agent assured us that the seller was aware of the arrears and was willing to pay them back.

At the last minute (i.e last Friday) we were told that the seller was in a legal dispute and was not willing to pay all of the arrears until that dispute was resolved. They were willing to give the money to their solicitor to hold in trust to pay when the dispute was resolved. Obviously, as this was new news we requested more information - simple things like who was involved in the dispute, what was it about, how long had it been going on and most importantly what implications this would have on us should we purchase the property.

The seller refused to answer our enquiries and believed we should just purchase with no undertaking that all arrears will be settled or any information regarding dispute (but that their solicitor was holding the funds) and also issued us a deadline of two days to exchange contracts.

We have said that is too much of a risk (it's a leasehold as well so the management company can forfeit a lease on no notice if they believe a property to be in arrears) to proceed without more information and if we don't get it we'll withdraw.

Are we being unreasonable? It seems like a big risk to take to proceed. We've invested a substantial amount of time and the associated costs in this - is there any advice you would have for what to do??

Tell them the offer drops by one per cent a week until the management company are happy the vendors debts have been settled (so they'll transfer the lease) and the vendor is ready to exchange contracts :lol:

... and start looking at other places ;)

Your seller should be treating you better :(

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I beg you to walk away from it! If their already in a dispute and withholding information then theres serious trouble going on.

I should know from experience with my flat, it got that bad that i was on the verge of just handing the keys back to the mortgage company.

Stear Clear, i'm suprised your solicitor hasn't advised you to do the same, the cost you've occured now will be nothing compared to what you'll face when you have a dispute with the management company.

The sellers are hidding alot from you, all they want to do if offload the s@*"t onto someone else. that is a dead cert!!!!!!

Tell me are the sellers withholding the accounts for the last three years at all???

The management company can also request monies for additional maintenance etc at any time and you have to pay up within 21 days , and it doesn't matter if you can afford it or not!!! They can then take you to small claims for breach of lease if you don't pay, then your faced having to pay there legal costs as it will state you have to in the lease.a

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Thanks all! we withdrew from the transaction and luckily have just found a much nicer flat. Hopefully there won't be the same issues with this one!

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