I would like some advice. I am in the process of selling my property to a property development firm. However, it has since unfolded that the firm don’t actually have any money to buy the property. They reassured me the whole time that they would release the deposit once the planning was approved. However 4 weeks after the planning was approved and after we got a mortgage in place and paid for a survey on our forward purchase (on their request as we only have 6 months to move out once their deposit is released.), they have now told us that they don’t have the money to buy our property.
Obviously as you can imagine we are devastated that after a year of planning proposals being declined/deferred and neighbours complaining and general stress/awkward living arrangements, to finally get the planning approval, only to be let down with a problem that we never expected. We are also now out of pocket for the money we’ve spent on our forward purchase, as we will no doubt lose the option to buy this.
My question is once the contract expires with the property development company which is within the next few weeks. Am I then in a position to market our property at auction or privately with the benefit of the planning permission that was recently approved? If so, what proof do I have? Obviously the planning portal council website has the approval which can be seen/downloaded, but is this sufficient to sell our property? We understand that we probably don’t own the architecture drawings but the permission itself belongs to the land and lasts for 3 years as far as we understand.
Any advice would be gratefully received as we are really lost as to what to do next.
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