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Pulling out of a sale

Posted: Tue Jun 12, 2018 9:34am
15 replies542 views7 members subscribed
Karol1112

Karol1112

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Hi, where do I stand legally if I want to pull out of a sale. I don’t want to but the vender is making things very difficult. I have put a deposit down with the agents but not signed anything,( this was in the 28th March)  it’s taken about 7 weeks since they applied for the certificate, everything else was in place and still waiting for the certificate from the town Hall , and it appears the vendors solicitor only phones them a couple of times a week ( have heard you need to go down there to gee them up) my solicitor suggested we ask for a retainer so the sale could go through but they refused this. They are pushing me to sign the sales contract which obviously I won’t do till the certificate is in, they are refusing to give me a inventory of what comes with the property because I won’t sign the sales contract either. I had asked for a quick finalisation hoping for around mid May at least, I had to arrange a POA which took a little time but now it seems the venders are just putting obstacles in the way, any advice please.

dinnerout

Posted: Tue Jun 12, 2018 11:48am

dinnerout

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Posted: Tue Jun 12, 2018 11:48am

Sorry to hear this

What is the "certificate " you're referring to? From the town hall? 

You say you didn't sign anything - do you have a receipt or any other paperwork for the "deposit " you paid? What percentage of the sale price have you paid to the agent and can your solicitor confirm that it reached the vendor solicitor? 

Steve

Edit to add, you can pull out of a sale at any time. If only a "reservation fee" was paid it is returnable, usually within 4 weeks. Once you have paid your 10% deposit you will lose it all if you pull out. 

271935

Posted: Tue Jun 12, 2018 12:56pm

271935

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Posted: Tue Jun 12, 2018 12:56pm

Kiss good bye to the deposit if you paid this in the form of a reservation fee. 

Sorry to say but you're not the first or last who has made the mistake of paying the deposit "as advised" to the agent  only to change your mind. To then forfeit usually 3000e. 

Two options.

1. Walk away from the sale and 3000e

2. Stick with it.

Willy

Posted: Tue Jun 12, 2018 3:08pm

Willy

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Posted: Tue Jun 12, 2018 3:08pm

A deposit is a deposit and not refundable unless specifics are mentioned for withdrawal on the papers you received when it was paid and if you did not receive a receipt you are stuffed anyway!

Karol1112

Posted: Tue Jun 12, 2018 3:27pm

Karol1112

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Posted: Tue Jun 12, 2018 3:27pm

Deposit was paid to show interest to buy. I have a receipt that states how much I paid, date and property ref number. The problem is waiting for at least 8 weeks for the habertation certificate from the sellers solicitor and there refusal to do a inventory as well of what is included in the sale and refusing to do a retainer to maybe help the sale along . 

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dinnerout

Posted: Tue Jun 12, 2018 4:09pm

dinnerout

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Posted: Tue Jun 12, 2018 4:09pm

Pete, not sure that is best advice as there are many urbanisations where none of the properties have a habitation certificate (Cedulla in Spanish) This is usually because they were connected only to septic tank at the time. Not necessarily terminal in terms of ownership. 

I would never pay a deposit "on the basis" that a habitation certificate will be supplied. However what's done is done. 

I would recommend that she sits down with her solicitor and quietly works out what the options are before walking away. However, question to OP did the deposit reach your solicitors/or the vendor/or has your agent still got it? Find out if you don't already know. 

As to inventory, ask yourself how important this is to you? Can you afford to furnish it yourself? If the worst came to the worst? Could you reach an informal agreement with the vendor on a list and a price which would be paid over separately on completion day? That alone would remove one of your blocks to progressing. 

Steve

271935

Posted: Tue Jun 12, 2018 5:01pm

271935

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Posted: Tue Jun 12, 2018 5:01pm

Money won't have gone anywhere near  the lawyers they have paid the 3000e to the agent to take it "off the market"

If the house is deemed not legal they could try and get the money back from the agent. Still unlikely 

I would stick it out as it's taking too long isn't a good enough reason to pull out in the eyes of the agent who hold the deposit 

The problem is the OP has fell for the usual trick." If you don't demonstrate your interest and pay us now you could lose the property "

The sooner people wise up to this the bettee

Willy

Posted: Tue Jun 12, 2018 10:52pm

Willy

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Posted: Tue Jun 12, 2018 10:52pm

100% agree No Habitation cert DO NOT BUY and it is your solicitor that should be advising on exactly what your rights are!

killjoy

Posted: Sat Jun 23, 2018 10:42am

killjoy

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Posted: Sat Jun 23, 2018 10:42am

Though you didn't sign anything, Spanish law interpretes any payment as evidence of an existing intent to come to an agreement, and this is binding.

I would sign the definete sales contract withholding a significant amount of the total sale SUBJECT to rendering of whatever certificate(s) you may need from the seller within a certain period of time (say 10 days) being the agreement null and void in case of unfulfillment. In this case all related payments, fees, costs, expenses incurred must be reimbursed. to you.

Certificates needed:.

1. Cedula e habitabilidad

2. Boletin del instalador electricidad

3. Boletin de la instalacion de gas

4. Certificado de eficiencia enrgetica

all of them are required by law.

In case (and I presume this) you did not receive (4) at the time of your payment already made, this entitles you to get out of the whole deal, but you must hurry. Your solicitor should have told you how.

Karol1112

Posted: Sat Jun 23, 2018 11:35am

Karol1112

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Posted: Sat Jun 23, 2018 11:35am

Thank you so much, very helpfull, will pass this information on to my solicitor .

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