Property Purchase: At what point am I committed and cannot pull out?

In UK property purchase, the key point is when contracts are exchanged – right up until that point any party in the chain can withdraw with no penalty. This can lead to financial lost, tears, anger and lots of frustration.

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Once contracts are exchanged everyone is bound by the terms of the contract – if anyone wants to pull out after that point it will cost them many thousands of pounds, as a starting point it is usually 10 per cent of the purchase price and then any damages that flow from their actions. Because of this, generally the best advice is to buy the property and put it on the market as soon as you can. Depending on the market at that time you may lose a little money, but potentially considerably less than if you’d withdrawn from the sale.

 

For property investment in the UK from start to finish, Please Contact me

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

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denecoblog

I am a Property/Energy Consultant TA DenEco Consultancy - www.deneco.co.uk: A friendly, energetic and adaptable individual with keen interest and aptitude for learning and motivating others, with great academic skills and work experience in both Life science and Environmental Management, seeking an opportunity to use his proven flair for teamwork and creativity in Property Purchase, Energy Efficiency, Environmental management for sustainable development and growth in any related sector or industry. I help individuals, businesses, SMEs and corporate clients save or make money in regards to Property investment, energy efficiency, environmental management solutions. The foundation of my experience is environmental protection. I have a passion for helping people, businesses and corporate organization achieve their dream through Property Investment and become more efficient and effective in their energy, and environmental management. I get satisfaction from knowing that the work am doing is helping make/save money and the environment.  Contact us @ www.deneco.co.uk Outside of work you can find me spending time with family, studying and researching for new opportunities and continuous development. Specialties: Property Investment, EPC provider, Energy Efficiency, Environmental  management.

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