Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Announcement

Collapse
No announcement yet.

deposit return

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • deposit return

    Exchanged contracts on purchase,3 in chain , us top new build 400k, our buyer middle 270k, her buyer bottom not sure price. Bottom of chain now says cant complete money in icelandic bank!!!! paid 10% deposit which developer will keep ,need to recoup difference between 40k and 27k, solicitor says just sue, worried if buyer has no cash.Any ideas greatly appreciated!

  • #2
    Suing someone with no cash is always a risk.

    Comment


    • #3
      New case law on this ....very interesting if you are into to this kind of stuff !

      Comment


      • #4
        Please remember that you sue the middle guy, not the bottom one. The middle guy, where is his/her money?

        Comment


        • #5
          Sounds like a bit of a catch 22 here, but i think a solicitors advice will be better than mine, so i'd go with him!

          Comment


          • #6
            Please remember that you sue the middle guy, not the bottom one. The middle guy, where is his/her money?
            Middle guy has a house and if he isn't mortgaged up to his eyeballs you could fix a charging order on the house once you get a judgement. he can't do that to his buyer who has no house!
            RICHARD WEBSTERwww.rwco.co.uk
            As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.

            Comment

            Working...
            X