A client of mine sent me an e-mail yesterday worried about a contract for the purchase of a property. She and her husband have faced delays obtaining finance approval and the seller had sent her an e-mail with a veiled threat that the seller would terminate the contract.
I sent a note back – DO NOT PANIC!
While there is a risk that the seller will terminate, I pointed out that they would not sell the property and collect the proceeds any quicker if they terminated the contract, conditional approval had already been obtained and they were only awaiting a bank valuation. So I suggested that they point these things out to the seller and ask that the seller be patient for a little while longer.
She did that, spoke to the seller and is now confident that the seller will be patient for a while longer.
So for pragmatic business as well as legal advice –see Michael Paterson & Associates.