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Signed Missives Now Won't Conclude

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My buyers signed the missives (in Scotland - contract) - now they say they can't conclude the deal and want us to re-market the property. I know ultimately they have to pay us 4% over the base rate for each month they don't conclude and any loss we have to sell the property for - however at the moment it is costing us two mortgages ( we bought another property once missives were signed) and a bridging loan - a grand total of 4k a month.

It's crippling us though and our 'buyers' have a very laid back attitude to it all - probably because at the moment it isn't costing them anything - and we have been told it could take us months to re-sell and even longer to get the lost money back.

Is there anything we can do?

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  • 401 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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