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[V8Druid]

You kept the deposit though right?

I did on my yard, when the first sale fell apart in the '08 financial collapse and the buyers went tits ....
administrators asked for it back ...
were told to **** right off and then keep going - see you in court (which they were never gonna do ) ..
compensated a bit for the eventual lower price I got for it in '14
statute of limitations expired on it in '10 - was a nice little pull, with 12yrs interest

 

[DaveDCB]

You kept the deposit though right?

Yeah , same as @V8Druid - took less second time around, 6 months of extra council tax to pay, running costs over winter, extra interest , had to pay estate agents twice as they trigger on exchange not completion, didn’t end up in a loss but no real gain in the end - would of rather it sold first time around and got rid of the place!

 

[Jimoz]

I did on my yard, when the first sale fell apart in the '08 financial collapse and the buyers went tits ....
administrators asked for it back ...
were told to **** right off and then keep going - see you in court (which they were never gonna do ) ..
compensated a bit for the eventual lower price I got for it in '14
statute of limitations expired on it in '10 - was a nice little pull, with 12yrs interest

But its legit to keep anyway after exchange isn't it? Else whats the point of exchanging contracts?

 

[DaveDCB]

But its legit to keep anyway after exchange isn't it? Else whats the point of exchanging contracts?

Yes, but to a point. If you(buyer) has a good lawyer you could claw back some of it , ie if the property re-sells for more than originally etc, all depends on the wording thus why it’s worth going through it with a fine tooth comb !! Oh and don’t believe anyone who says they never fall through after exchange !