There's an issue on a property whereby the purchasers signed a contract with the vendors to buy a house. The contract stipulated that all charges be discharged from the property but this wasn't done and the sale cannot proceed.
What are the legal options open to the purchasers (this is UK based)?
It is standard for real estate sale contracts to have a Notice to Complete clause which allows the party that is ready to settle to serve a notice on the defaulting party that they have 14 days to complete the sale.
At the end of that time, they may extend the notice or terminate the contract. If the vendor is in default, the deposit is returned and the buyer can sue for damages (e.g. their legal fees, building inspection costs etc.). If the buyer is in default, the vendor keeps the deposit, can also sue for damages and may place the property back in the market.
