house purchase

[RichardT.H.]

Hi all, Not been on here for a long time, need some advice if possible. We are about a month from finalizing on a property, my work has dried up and the pound, as we all know is sinking fast! We suggested to the agent that we would like to renegotiate the total price, or we may have to forgo our deposit and pull out. They say this is not possible and we should look at taking out a loan! with no work??

 Does anyone know if it is possible to change the figures at this late stage? Thanks in anticipation.Richard  

[Sunday Driver]

If you have signed the compromis de vente then you are committed to the purchase on the agreed terms. 

If the seller won't agree to a reduction in the price, then all he needs to do is sit back and wait for you to pull out, then pocket your deposit - 10% for doing nothing.....

 

 

 

[Judie]

..........and if he wanted to, he could pursue you through the french courts to force you to purchase - costly on both sides. Better to continue if possible.

[NormanH]

Of course if there is a 'condition suspensive' about you needing a credit...and you can show that you can no longer obtain a credit owing to your lack of work, there may be an angle.

[RichardT.H.]

thanks for the swift response, that was what i was expecting the answer to be. no condition suspensive attached so looks like we carry on and buy our piece of France. would be handy if the pound picked up but hey c'est la vie.

[Anton Redman]

[quote user="Judie"]

..........and if he wanted to, he could pursue you through the french courts to force you to purchase - costly on both sides. Better to continue if possible.

[/quote]

In the three French purchase contracts I have read the deposit is liquidated damages, a fixed and reasonable amount,  so it must depend on exact wording of the contract.