Approach bank in a stressed sale?

RMcD

Registered User
Messages
3
Hello all,

New poster to this forum; Iv recently agreed to buy a property through estate agent from a seller in some financial difficulties.

Seller now states that the bank will not return calls/cooperate with him. Bank is a main Irish based financial institution.

Is there a method whereby I can approach the bank to somehow expedite the process?
I'm eager to do this as A) I'm renting an apartment and B) other houses in the area are gaining value should I need to abandon this purchase.

Any advice is appreciated.

Mac
 
No. The Bank will not talk to you directly. You can only have patience and wait if you are intending to complete this purchase. If you read through other posts re distressed property you will note that sometimes banks are slow to respond to requets from clients to voluntarly sell a property. Unfortunately you can do nothing to assist in progressing the sale agreement.
 
44brendan,

Thanks for your reply, not a great position to be in rock&hard place...

Mac
 
Thread update; I'm now 11 months on from putting down the deposit on the house. There has been no movement at all in the sale despite my badgering on a weekly basis of my solicitor and estate agent.
This is due to (I'm lead to believe) inaction and malpractice by the seller's bank-documents missing & guy dealing with the case left the bank.

The auctioneer called me Christmas week and said he believes things are moving on now as the seller himself has gone to the local bank branch BUT the bank now may look to revalue the house as prices have gone up in the (almost) year to date!

Needless to say I'm furious as this situation was brought about by their delay. If someone could offer any advice I'd appreciate it as the idea of being gazumped by a bank is ridiculous to me.

Regards

Mac
 
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