Liability - pulling out of purchase

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A
Alex2015
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Hello,

We have had bad experiences in the past with being ready to purchase a property but the vendor had pulled out. This was after we had already paid for all fees (conveyance/survey etc) so we lost the money.

One of our friends has put an agreement in place with their solicitor that protects them in case their vendor pulls out. In that case the vendor will have to pay back all costs occurred to the buyer.

When we spoke to our solicitor and estate agent, they said this is not common practice and the vendor's party would not agree to such an agreement.

Apparently there is a home buyer's insurance for 89.

Is this something you would recommend to protect ourselves or is there anything else you would recommend?

Thank you,
Alex
01/06/2015 14:11

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