property auction title issues - can someone advise

julianuary

Registered User
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Hi Guys

I know the title would suggest I should run a mile. But I am speculating without exact knowledge. Maybe someone could have a look and give an opinion. I intend seeking legal advice anyway.

I am looking at this property up for auction to make my family home. Sorry cant post a URL but its on allsops catalogue lot 249.

Basically I have a partner and children and currently rent. Good friend with cash has asked me to take a look at it with a view to him loaning me the money to buy it and fix it up. Further down the line the idea would be that I would mortgage it and repay them.

However looking at the folios for this house it appears the gable end and the shed is on an unregistered piece of land that is not included in the sale. How very strange, and yet planning and retention were passed. There are a no of legal docs etc pon the allsops site that seem to suggest that the previous owner maintained some kind of squatters right to the strip of land.

But if i went ahead and bought it, wouldnt it be impossible to mortgage in the future?

I know the initial reaction is to run a mile...but perhaps it is more clear cut than i think? Otherwise how was it sold previously and planning obtained and retention received?

Very curious
 
hi mortgage was in place and it was a voluntary surrender back to the bank. It appears that the mortgage did not include this strip of land that effectively runs through the gable end of the house and shed though! Would need someone to look at all the legal docs allsops have online for this property...i can make a best guess but im not an expert.
 
However looking at the folios for this house it appears the gable end and the shed is on an unregistered piece of land that is not included in the sale. How very strange, and yet planning and retention were passed.

Not strange at all. Planning can be given even if title is not in order.

As for your buying this, sounds like a nightmare waiting to happen. Title issues are one of the reasons certain properties can be put up for auction.

I don't see anybody is going to read the title documents for you on AAM. That's what you need to hire a solicitor for.
 
. Good friend with cash has asked me to take a look at it with a view to him loaning me the money to buy it and fix it up. Further down the line the idea would be that I would mortgage it and repay them.

And apart from the title issue we have the above madness? How exactly is that plan supposed to work? What if a bank won't give you a mortgage? What happens then.
 
Is this the property?



Fine bungalow for 40K, have you inspected it internally?

You can ask the Eversheds solicitor your question about title, he might answer you. I now some of them do.
 
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