We bought the property almost 12 weeks ago, with a settlement of 12weeks. 10% deposit was paid on the day and is held at the realestate agent.
Just coming off the phone with my solicitor, she told me that the owner prob cannot settle on the set day as she said they do not have or cannot find the title to the house, and they are not apologetic but really rude and seems disgruntled. They also said one of the owner is overseas so they cannot get a new title as it needs both their signature.
This made me think that the owner had a change of heart in the sale. We went to alot of trouble to get all the finances done, and the solicitor told me the only thing she can do is send a notice to complete with in 14days. And she told me that there isnt anything else todo.
Has this happened to anyone else? what are my options, can i get any compensations if the sale are not complete on the settlement or if at all can be completed. Also would i receive back the deposit from the realestate agent? and would interest be available on the fund.? and what do i do with the stamp duty already paid.
As at this stage i think the owner have no intention of completion, and in the contract of sale i cant see much penalty for the owner, it seems to only penalize the purchaser....
Sorry about the long post, any advise appreciated.
Just coming off the phone with my solicitor, she told me that the owner prob cannot settle on the set day as she said they do not have or cannot find the title to the house, and they are not apologetic but really rude and seems disgruntled. They also said one of the owner is overseas so they cannot get a new title as it needs both their signature.
This made me think that the owner had a change of heart in the sale. We went to alot of trouble to get all the finances done, and the solicitor told me the only thing she can do is send a notice to complete with in 14days. And she told me that there isnt anything else todo.
Has this happened to anyone else? what are my options, can i get any compensations if the sale are not complete on the settlement or if at all can be completed. Also would i receive back the deposit from the realestate agent? and would interest be available on the fund.? and what do i do with the stamp duty already paid.
As at this stage i think the owner have no intention of completion, and in the contract of sale i cant see much penalty for the owner, it seems to only penalize the purchaser....
Sorry about the long post, any advise appreciated.