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HELP! Contracts signed but not exchanged.

  • 01-02-2013 1:55pm
    #1
    Leiva
    Closed Accounts Posts: 10,117 ✭✭✭✭


    Hi,

    I have gone sale agreed on a property over 3 months ago, and the vendor is due to move out end of Feb - as per the signed contract.

    I gave him the 4 months as he had no place bought yet.

    We are now approaching the end of Feb and the guy is not returning any calls or texts for near on a week now, and we have heard that he may want out of the arrangement.

    I called my solicitor who says that the contracts are signed (he called their solicitor) but they still have both copies which are not exchanged yet with us.

    I'm pissed at my solicitor for not following up and getting our copy back over 8 weeks ago, but he said they were probably holding onto them until a small planning matter got sorted, which is now.

    Where do i stand with this?

    a.) Are they obliged to sell me the house and are legally bound seen he counter signed the contract?..but not exchanged.

    b.)No Im goosed and he can pull out of the sale, and i find myself and the wife and kids stuck ?

    __________________


Comments

  • #2
    Pat Mustard
    Registered Users, Registered Users 2 Posts: 9,554 ✭✭✭Pat Mustard


    IBTL


  • #3
    lac007
    Registered Users, Registered Users 2 Posts: 55 ✭✭lac007


    Id say your goosed.And I would be pissed off with my solicitor big time.


  • #4
    Pat Mustard
    Registered Users, Registered Users 2 Posts: 9,554 ✭✭✭Pat Mustard


    Leiva wrote: »
    I'm pissed at my solicitor for not following up and getting our copy back over 8 weeks ago, but he said they were probably holding onto them until a small planning matter got sorted, which is now.

    Where do i stand with this?

    a.) Are they obliged to sell me the house and are legally bound seen he counter signed the contract?..but not exchanged.

    b.)No Im goosed and he can pull out of the sale, and i find myself and the wife and kids stuck ?

    First, we can't answer your question adequately due to forum charter.

    Secondly, if your solicitor hasn't followed up in eight weeks, that is not good enough by a long shot. Is it the case that he has not followed up at all, or is it the case that the other side have ignored him and refused to return the contract, in duplicate, for signature by you?

    Thirdly, from what you say, it appears that both parties have not yet signed the contract. Take a look at section 51 of the Land And Conveyancing Law Reform Act 2009.

    51.— (1) Subject to subsection (2), no action shall be brought to enforce any contract for the sale or other disposition of land unless the agreement on which such action is brought, or some memorandum or note of it, is in writing and signed by the person against whom the action is brought or that person’s authorised agent.
    (2) Subsection (1) does not affect the law relating to part performance or other equitable doctrines.
    (3) For the avoidance of doubt, but subject to an express provision in the contract to the contrary, payment of a deposit in money or money’s worth is not necessary for an enforceable contract.

    Again, we can't advise you on whether this transaction is enforceable or not. However, if there is any doubt, this is a question which you should put to your solicitor.


  • #5
    Leiva
    Closed Accounts Posts: 10,117 ✭✭✭✭Leiva


    The contracts have been signed by both parties but not exchanged.

    The vendors solicitor has both copies for over 8 weeks now, but has confirmed via phone to my solicitor that the vendor has counter signed.

    I'm seriously upset with my solicitor and I was looking for some input before I called him back to see if there possibly could be a binding contract in place even though our copy of the contract has not been received back.

    I apologise if I have broken any forum rules in the process.


  • #6
    Leiva
    Closed Accounts Posts: 10,117 ✭✭✭✭Leiva


    OK a bit of an update...


    One solicitor tells me that there is a binding contract in place as the vendor and I have both signed the contracts, and even though not exchanged then there is still a binding contract in place.
    By his solicitor confirming that they had counter signed (whilst over the phone to my solicitor) then it seems that conversation is good enough to confirm their signature/counter signing.

    I have read the above http://www.irishstatutebook.ie/2009/en/act/pub/0027/sec0051.html#sec51 ... from top to bottom and there is nowhere mentioning that that contracts must be exchanged to complete the bind.

    It seems that only both parties need to sign same said contract for it to be binding.

    Anyone wanna give any input ?

    Ta

    L.


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  • #7
    Pat Mustard
    Registered Users, Registered Users 2 Posts: 9,554 ✭✭✭Pat Mustard


    Leiva wrote: »
    One solicitor tells me that there is a binding contract in place as the vendor and I have both signed the contracts, and even though not exchanged then there is still a binding contract in place.
    By his solicitor confirming that they had counter signed (whilst over the phone to my solicitor) then it seems that conversation is good enough to confirm their signature/counter signing.

    ...Anyone wanna give any input ?

    Ta

    L.
    It is difficult to comment further for reasons of lack of paperwork and forum charter.

    I am curious to know why the vendors' solicitor confirmed that the contract has now been signed by both parties if he is not prepared to return one part signed contract. Did you ask your solicitor if he asked the vendors' solicitor for an explanation?

    Why do you refer to 'one solicitor' in your post? Does more than one solicitor act for you?


  • #8
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,243 Mod ✭✭✭✭godtabh


    What happens in this situation if both contracts are signed but in the control of one party? Is the dog eat the contracts a good get out of jail card?

    If both parties signed the contracts a simple request to return he originals would confirm the contract. If the originals werent returned what would happen?


  • #9
    Leiva
    Closed Accounts Posts: 10,117 ✭✭✭✭Leiva


    The Mustard wrote: »
    It is difficult to comment further for reasons of lack of paperwork and forum charter.

    I am curious to know why the vendors' solicitor confirmed that the contract has now been signed by both parties if he is not prepared to return one part signed contract. Did you ask your solicitor if he asked the vendors' solicitor for an explanation?

    Why do you refer to 'one solicitor' in your post? Does more than one solicitor act for you?
    godtabh wrote: »
    What happens in this situation if both contracts are signed but in the control of one party? Is the dog eat the contracts a good get out of jail card?

    If both parties signed the contracts a simple request to return he originals would confirm the contract. If the originals werent returned what would happen?

    As mentioned the vendor is gone a.w.o.l and it seems may want out of this arrangement so that may explain the (deliberate?) delays.

    My concern stemmed from the fact that my solicitor never got back our copy of the contract (exchanged), why ? ... I dont know, could it be that the vendors solicitor was told not to exchange until he had a place to move to, cause that's my suspicion from the last conversation I had with the vendor.

    But the vendors solicitor told my solicitor over the phone that they had counter signed when asked on the phone.

    I have been advised that there is a binding contract in place even if they have not been exchanged, but same said contract have been signed by both parties.

    Surely my copy of the contract wouldn't go "missing" now ?:o

    Surely the telephone conversation between both solicitors stands for something:o


  • #10
    Pat Mustard
    Registered Users, Registered Users 2 Posts: 9,554 ✭✭✭Pat Mustard


    godtabh wrote: »
    What happens in this situation if both contracts are signed but in the control of one party? Is the dog eat the contracts a good get out of jail card?

    If both parties signed the contracts a simple request to return he originals would confirm the contract. If the originals werent returned what would happen?

    Sometimes there is a special condition in the contract which stipulates that no contract is in place until the original and counterpart contract are signed and one part is returned to the purchaser.

    In this case, we do not have a copy of the paperwork and it would not be a good idea to speculate, given the amount of money involved and the serious nature of the matter, etc.
    Leiva wrote: »
    But the vendors solicitor told my solicitor over the phone that they had counter signed when asked on the phone.

    I have been advised that there is a binding contract in place even if they have not been exchanged, but same said contract have been signed by both parties.

    Surely my copy of the contract wouldn't go "missing" now ?:o

    Surely the telephone conversation between both solicitors stands for something:o

    I asked you if you have asked your solicitor if he has asked the solicitor for the vendor for the reason why one part contract has not been returned.

    Did your solicitor advise you that you had a binding contract?


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