With economic downturn many investors in the real estate industry are not completing on property deals because of cash flow but now they have something to fear, lawyers have warned if they do not complete on their deal they can still be forced to buy then after a court injunction.

When house prices continued to rise many buy to let investors were very quick to jump on the band wagon and buy houses and now that mortgages are much harder to get and many of them how have signed contracts have realised that the profits are not as high as expected and wish to pull out.

Developers have told them that this is not an option as they have committed to build them and they can not apply to court and ask for a specific performance which will make the buyer continue on the contact and complete the agreement .
With the down turn all developers are looking into how they can protect their assets and seek help from the courts to enforce them.

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This entry was posted on Friday, October 9th, 2009 at 11:56 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.