expenses

[lucan0606]

We agreed to purchase a new property and had our offer accepted 2 months ago. We have not exchanged and now the builder wants to back out. Do we have any claim on expenses incurred from visits to the property and solicitor fees?

[wales01man]

Re: expenses

NO.Until contracts are exchanged there is no contract this is one of the problems with house selling buying in England.

[PlanB]

Re: expenses

We have another member with exactly the same problem. I suggested that next time they should take out an insurance policy to cover some of the possibly causes of a sale collapse

You can take out an insurance policy against a house sale falling through for various reasons. Here's an example of one but I'm not recommending this particular broker you will need to do your own research.

Once bitten twice shy

http://www.imdne.co.uk/home-buyers-p...ion-insurance/

[PlanB]

Re: expenses

We agreed to purchase a new property and had our offer accepted 2 months ago. We have not exchanged and now the builder wants to back out. Do we have any claim on expenses incurred from visits to the property and solicitor fees?

Was this a 'new build' property you were buying off-plan? This might make a difference if the builder has not kept to any contract involved or unfulfilled promises on deadlines etc.

[wales01man]

Re: expenses

Now that house prices are on the rise again and with the Governments mortgage help this will be happening a lot more ,if your a seller its a good thing to make more money as a buyer you will dip out