Gazumpers out of court

Article Abstract:

Tim Pitt of Chelsworth, Suffolk, England, sued a house seller for breaking a contract. Mr Pitt persuaded the seller to accept his offer with written confirmation that he would not consider any other offers, subject to exchange of contracts within 14 days. Mr Pitt arranged finance and instructed a solicitor, surveyor, architect and estate agent, but the seller decided to accept a previous higher offer. Mr Pitt sued for damages at the county court and the judge agreed that the seller had broken the lock-out agreement.

Cases, Real estate, Contracts, Real property

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The beastly buyers who ask to enter early

Article Abstract:

Some purchasers of run-down properties wish to gain access to the property to start renovating it after contracts have been exchanged but before completion. Many sellers are willing to agree to such a request, but solicitors should advise them to be cautious. Lenders and solicitors generally agree that, where early access is granted, the property should be empty and contracts already exchanged. In law, the seller still owns the property, but there have been cases where the purchaser has refused to move out.

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Home hunter beware! Don't believe what you see

Article Abstract:

Some house vendors in the UK resort to deception to try to disguise structural problems from surveyors who are examining the house on behalf of potential purchasers. Some fill and paint cracks in walls, for example, and then cook curry to disguise the smell of the paint. However, surveyors are generally able to spot tricks of this kind. Vendors should be aware that they are legally obliged to disclose a wide range of information about the property, including disputes with neighbours.

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