Selling a property query

Sylvc · by **Sylvc** » Thu Jan 24, 2019 3:29 pm

hi
I don't know if anybody can advise as we don't seem to be getting anywhere with our estate agent or solicitor
We were supposed to complete today on the sale of our property but the buyer has been in contact today to say he is unable to fly out and put forward a feeble excuse.
We have a contract signed by both parties and wondered if this is binding as it would be in the UK.
The solicitor is going back to him to find out when he might be completing?
I just wondered if anybody knew if he is allowed to just change the date without any penalty. If we had been completing on another property today we would have been in a very difficult situation.
I would be grateful for any advice on this.

daz · by **daz** » Thu Jan 24, 2019 11:31 pm

As far as I’m aware changing the date isn’t a problem, it’s just if they back out altogether, then the deposit they paid becomes yours, minus whatever your lawyer and agent wants to keep for their services. But there are plenty of folks on here that can advise you better.

Russ · by **Russ** » Thu Jan 24, 2019 11:36 pm

Hi I had nearly purchased a property a few years ago then the vendor changed their mind and didn't want to sell so after 2 flights ,lawyers and 4 months I was suddenly left with no property to purchase and had the 10% deposit back in my account minus the vendor's Lawyers fee. I didn't get it back and they probably knew it wouldn't be worth my time pursuing them. I got no compensation.I felt really let down. Spanish Lawyers were not interested in trying to get the compensation they just said: "this happens sometimes People just change their minds." It wouldn't happen in the UK ,They would have had to pay me compensation to pull out of the deal. If on the other hand, I had changed my mind they would have been able to keep my deposit.Not fair really. I believe the Seller should have to put money in a holding account and if they pull out then the purchaser gets automatic compensation.It only works one way currently unless you can be bothered to pay out for a Lawyer to chase the sellers who pulled out . But alas you are not in the UK So i believe when you are buying a Property in Spain it's not yours until you have the keys. Your purchaser are probably having trouble getting out for the dates. They should give there Lawyer Power of attorney, so he can do all the work for them. Hope it works out for you . atb

Shiva · by **Shiva** » Thu Jan 24, 2019 11:54 pm

"I was suddenly left with no property to purchase and had the 10% deposit back in my account minus the vendor's Lawyers fee."
Sorry to hear of your bad experience. I thought the whole point of the 10% deposit was to protect both sides i.e if you pulled out, they keep the 10% but also if they pull out they have to not only give you your deposit back but the same again i.e they pay you another 10%. That's what I have always been told by my solicitors and it seemed fair but.... have never had to test that scenario and you are saying you only got your deposit back rather than your deposit plus 10%. This is an important point for all buyers so would be good to hear about people who have been in this situation does the deposit thing work or does it just depend on having a good enough solicitor? It might be your solicitor at fault here . Did you use a solicitor independent of the seller? Estate Agents often try to persuade people to use their solicitors but in that case you can never be sure the solicitor is acting in your sole interest, always better to have an independent one.

TonTri · by **TonTri** » Fri Jan 25, 2019 8:00 am

Shiva wrote:"I was suddenly left with no property to purchase and had the 10% deposit back in my account minus the vendor's Lawyers fee."
Sorry to hear of your bad experience. I thought the whole point of the 10% deposit was to protect both sides i.e if you pulled out, they keep the 10% but also if they pull out they have to not only give you your deposit back but the same again i.e they pay you another 10%. That's what I have always been told by my solicitors and it seemed fair but.... have never had to test that scenario and you are saying you only got your deposit back rather than your deposit plus 10%. This is an important point for all buyers so would be good to hear about people who have been in this situation does the deposit thing work or does it just depend on having a good enough solicitor? It might be your solicitor at fault here . Did you use a solicitor independent of the seller? Estate Agents often try to persuade people to use their solicitors but in that case you can never be sure the solicitor is acting in your sole interest, always better to have an independent one.

The first villa our daughter wanted to purchase in El Raso the vendor pulled out of the sale early in the process, she did get her 10% deposit back plus an extra 10%. I'm not sure about solicitors fees though. So the system worked for her. She went on to buy a different villa in El Raso which went smoothly. This was in 2016.

Paulr · by **Paulr** » Fri Jan 25, 2019 4:52 pm

Unfortunately, I think Russ must have had an unscrupulous lawyer. I would have made a complaint to the relevant Bar Association/Law Society - assuming they were registered!

When we paid our deposit, it sat in our lawyer's client account, until she was satisfied that all searches were satisfactory and the contract accurately reflected what we were buying (the vendors had built an extension with Town Hall permission, but it had never been registered at the Land Registry - it cost the vendors almost Eu 1,000 to correct the oversight in order to complete the sale, which would have ended up being our problem, if our lawyer hadn't spotted it).

If I was Sylvc, I'd be instructing my lawyer that if the vendors fail to complete on the next agreed date, you deem them to have frustrated the contract and will be looking for not only return of your deposit, but double the deposit value as defined in Spanish law.

Good luck!

Sylvc · by **Sylvc** » Fri Jan 25, 2019 4:57 pm

neil_hamilton1 · by **neil_hamilton1** » Fri Jan 25, 2019 7:15 pm

The original post is from a vendor with the purchasor not completing (on time). If the sale does not proceed then the seller retains the deposit paid by the purchaser. The vendors lawyer may want paying for the work undertaken out of this deposit. The property should then be remarketed by the agent a quickly as possible.

Sylvc · by **Sylvc** » Fri Jan 25, 2019 7:26 pm

Russ · by **Russ** » Sat Jan 26, 2019 12:51 pm

Shiva wrote:"I was suddenly left with no property to purchase and had the 10% deposit back in my account minus the vendor's Lawyers fee."
Sorry to hear of your bad experience. I thought the whole point of the 10% deposit was to protect both sides i.e if you pulled out, they keep the 10% but also if they pull out they have to not only give you your deposit back but the same again i.e they pay you another 10%. That's what I have always been told by my solicitors and it seemed fair but.... have never had to test that scenario and you are saying you only got your deposit back rather than your deposit plus 10%. This is an important point for all buyers so would be good to hear about people who have been in this situation does the deposit thing work or does it just depend on having a good enough solicitor? It might be your solicitor at fault here . Did you use a solicitor independent of the seller? Estate Agents often try to persuade people to use their solicitors but in that case you can never be sure the solicitor is acting in your sole interest, always better to have an independent one.

Did you use a solicitor independent of the seller? Estate Agents often try to persuade people to use their solicitors but in that case, you can never be sure the solicitor is acting in your sole interest, always better to have an independent one.----- Seems it probably was the Lawyer i used on reading this. The Lawyer was recommended by the Estate Agent. Also funny thing the property i was all set to complete on was also in Al Raso Also I believe things always happen for a reason, the property I want on to purchase was much better. I still use this Lawyer now So i think it might be time to change. Thanks everyone

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