British Expats
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British Expats (https://britishexpats.com/forum/)
-   The Maple Leaf (https://britishexpats.com/forum/maple-leaf-98/)
-   -   OMG Devastated house sale fallen through (https://britishexpats.com/forum/maple-leaf-98/omg-devastated-house-sale-fallen-through-494312/)

daft batty Nov 17th 2007 9:22 am
Re: OMG Devastated house sale fallen through
 
Originally Posted by Almost Canadian (Post 5567440)
Having worked in a real estate practise here for some time now, I can tell you that plenty of Canadian deals tank even though they are legally binding. Whilst, on balance, I think the Canadian system is better than the English one, it is not uptopian at all. Just ask all in Calgary that currently have their house on the market - it has definately swung back to favour buyers
We tried to buy two other houses before we had to settle for the one we are in now. The first one failed its house inspection, a century farmhouse that was falling down apparently. The second, the sellers agreed to change the oil container thingy, and then changed their minds and said they wouldnt change it, nor reduce the price to cover costs. As a new one was a condition of getting the house insured we couldnt buy the house. The vendors then took their house off the market and are still there. Seems they changed their minds about moving and so used the house inspection to make us pull out.

So, $800 poorer we settled for the boring house we are in now.

I really sympathise with a house sale falling through especially as so much was depending on it. Something better will come along. A really keen buyer who wants to move quickly! Why not try getting your solicitors to write to theirs asking for compensation?? I have heard of a case where that worked.

ScottishJim Nov 17th 2007 9:37 am
Re: OMG Devastated house sale fallen through
 
I see in this thread a couple of comments regarding the great Scottish legal system when selling your "wee Hoose".

Well, apparently the Great Scottish system is now a close relative of the English system when it comes to House sales.
Our lawyer has reliably informed me that until the money is in the bank anything can happen.

So we are keeping just about everything crossed that on the 11th of January 2008 everything goes to plan and the money does go into our bank, cos as soon as it does we will be heading out to Alberta ASAP.

Wish us luck.

ScottishJim

manghams Nov 18th 2007 4:11 am
Re: OMG Devastated house sale fallen through
 
Just check the Rightmove site to see if our Agent had managed to correct their technical problem. :mad:

Guess they have, only propblem being that we are not on it at all! :curse:

Do they something I dont? :confused:

Coffeepot Nov 18th 2007 4:34 am
Re: OMG Devastated house sale fallen through
 
Originally Posted by manghams (Post 5570726)
Just check the Rightmove site to see if our Agent had managed to correct their technical problem. :mad:

Guess they have, only propblem being that we are not on it at all! :curse:

Do they something I dont? :confused:
how frustrating for you, so sorry

hope you can sort it out tomorrow, you should negotiate a better deal after all this or tell them none of us will use them,

good luck, Sue

walkerv05 Nov 18th 2007 4:46 am
Re: OMG Devastated house sale fallen through
 
Originally Posted by manghams (Post 5563473)
Thanks for everyones kindness. :wub:

Agent not able to update the Rightmove site, coz their server is down! So no way to advertise til monday and no advert in paper til thursday. :curse::thumbdown:

But; I had kept the phone number of someone who knocked on the door about six weeks ago, so I rang them this afternoon.
7pm tonight, they came for a viewing.... so here we go again, fingers toes and everything else crossed. :thumbup:

They said they will talk to each other and come back to us. :unsure:
So now we wait - I have decided Agents are not worth the money they get paid. :mad:
a lot of house selling luck sent to you, we have just changed agents and our fingers are crossed too , you should be able to string up these times wasters!!!!

JAJ Nov 18th 2007 4:54 am
Re: OMG Devastated house sale fallen through
 
Originally Posted by manghams (Post 5565862)
How do expect to sell houses if they dont market them properly, and lets face it, it is not cheap 1.5% of sale plus VAT is a big chunk of money.
Wait until you see what Canadian realtors charge. Of course, some people sell their own houses and there are websites set up to assist this.

JAJ Nov 18th 2007 4:57 am
Re: OMG Devastated house sale fallen through
 
Originally Posted by Almost Canadian (Post 5562706)
It is the same - the deal isn't legally binding until it's legally binding: in England this occurs upon exchange of contracts, in Canada once the offer is accepted. It's just that in England there are loads of hurdles to overcome before contracts are exchanges which, usually, means there is a longer time period before initial offer to exchange. Exactly the same as in Canada where, normally, the offer put forward by the purchaser is conditional (financing, property inspection, sale of current property etc).

They are identical it's just that there is a shorter timeframe to reach the legally binding stage in Canada in comparison to England.
And the real problem is that (most) buyers and sellers believe that offers are legally binding while in fact they are not.

If people understood that an offer and acceptance is still subject to negotiation right up to exchange of contracts, then things would be a lot easier in the market.


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