I was to complete on a property in Cardiff in March and failed to get a mortgage. The cost of the property was 134,500 I paid 13,500. The selling company are not the developers they just bought the entire building and kept some apartments for them selevs and sold on the rest. Their solicitor have outlined on a letter sent to me today that the company have sold my apartment for 104,500 and the are giving me 5 days to pay the difference of 16,500.

I spoke to a friend of mine they said fair enough they can keep the deposit but they purchased the property from the developer far less than 134,500 and that I should not be expected to pay for loss on their profits. Can anyone let me know what they think of this?

I think myself that they bought this property themselves because just after I failed to complete I saw several apartments for sale or rightmove I enquired immediately under a different name and I got no response so I think they didn't sell to the public but back to themselves at a reduced price.