The buyer of my house is using delaying tactics
In June 2017 i received an offer of purchase. In the first week of August 2017 the offer was formalized. At the end of August the Attorneys advised me to stop paying my bond as the matter was now finilized, they were waiting for the transfer to go through. However, since then the buyer has delayed the finalization due to inadequate insurance etc, the latest update from the buyers bank is that they are awaiting a letter to be signed by the buyer which was sent to him on 4 December and to date they have had no success in obtaining the signed letter from the buyer. This buyer is the performing delaying tactics. What is my legal rights, for compensation in this regard. Thanking you kindly
Hello. Please have a look at the offer to purchase. It will stipulate what will happen if the buyer fails to keep his side of the bargain ( breach ). You will usually have the right to sue for damages arising from the breach or demand performance. Ask your lawyers to put the buyer on notice ( mora ). In effect send him a letter giving him a date by which he must fulfill or face the prospect of a lawsuit.