Realtor Fees? |
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EARTH
The fifth-largest planet of the solar system and the third in order of position from the sun. It is an oblate spheroid, being slightly flattened at the poles. Satellite observations ... |
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Repost: About how much would it cost me to have someone build this house? |
I asked this question last night but didn't get any responses. Perhaps you Real Estate section folks are morning people? ;) I've also added a couple of questions to the end.
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Really outdated bathroom in the apartment I rent? |
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HELP! HELP ME PLEASE! LANDLORD IS NOT PAYING WATER BILL AND WATER IS CUT OFF? |
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bigd | If you loose a buyer for your house,can you get monies back for search fees etc.? |
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Peter M
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no |
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Hibee
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In which country? |
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newmexicorealestateforms
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Only if so stipulated in the original agreements with those buyers or if you belong to a mafia family. |
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Fox Hunter
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If you lost your buyer why do you want money back for search fees. They have already payed for search fees for the purchase of your house!!! You do not and have not payed for their searches.
You may have payed for searches on a property that you are buying, but that is you responsabilty not theirs. Talk to your solicitor.
Imagine for one moment that 6 sales are involved in the purchase of a property ( we call it a chain ) if what you are say was even remotly possible the person at the bottom would have to pay for everyones serches and legal fees. THEY WOULD NEVER EVER BUY ANYWHERE WOULD THEY!!!!!!
The only time that you are able to claim fees is when you have exchanged and then fail to complete, depending of course on which party fails to complete. If for insatance your purchaser fails to complete you will already have their deposit monies which you can keep normally 10% of the value of the property. Then you can charge interest on the outstanding balance and finally you can resell the property at auction for a lower amount and sue the purchaser for the difference.
Basically they are SKREW*ED so never exchange and then not complete. |
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georgie
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ethe answer to this is no it happend to me but ithink they are trying to bring the law in the same as scotland when the prospective buyer will be responsible |
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nemesis
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Unfortunately, in the UK, buyers and sellers are able to pull out at any point before contracts are exchanged. In theory, one side could pull out five minutes before contracts are exchanged - even though all the searches & surveys have been done. No party will be entitled to claim against the other party for costs.
When you instruct a solicitor to act on your behalf for the sale, you can check what their policy is in terms of a failed transaction. Some solicitors have a no sale = no fee, but then their fees may be higher to reflect this.
Also, another option is for a new buyer to purchase the searches from the old buyer. The solicitor will be able to advise on this. How much of that money the old buyer would see - I don't know. |
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Crystal
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If they have signed a contract and paid a deposit (usually around £10,000) then they lose the deposit. Unless they have, then a verbal contract means nothing. |
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pageys
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no. |
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tj F
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I'm not sure exactly what your question is exactly asking.....but in general, if you have a buyer for your home, and he defaults on the contract after the loan commitment date, you are entitled to the earnest money which should have been given as a "down payment" when the offer for your home was accepted. |
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