Hi all, deep breath, here goes.
I purchased a frontline beach apartment and managed to find a buyer pre-completion, all good and well but now the buyer seems to have gone to ground and the developer wants him to complete.
Upon the private contract signing the buyer paid a fair chunk of the deposit and was left with about 15k left which would be paid upon completion. The contract states that only one sale can be made pre-completion and the property will remain in my name upto the completing and signing over to the new buyer.
It also states that if I do not wish to complete then I'm entitled to 50% of all monies paid.
So if the sale falls through and it reverts back into my name and the deposit the buyer paid is non re-fundable am I still able to recover some of my loss via the developer refunding me 50% of what I have paid?
I got a bit of "umm not sure, I don't think so" from my solicitor, has anyone got any views??
Thanks in advance...