Hi, this is an innocent query, Its almost a year since I put a bid on an IBRC property which finally received approval in mid November 2013. I am waiting to sign contracts and have deposit paid and the estate agent dealing with the property has just informed me that the vendor has notified him (and in process of doing so to KPMG ) that he has alternative buyer with offer of €5000 more than our contract sum. Can this be done - confused and worried!
Buying property in IBRC / KPMG
- Thread starter askonce
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Brendan Burgess
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Yes, it can be done.
Neither side is committed until both sides have signed the actual contracts. You can pull your offer at any stage. And even if they have agreed to sell it to you, they can change their mind.
Brendan
Neither side is committed until both sides have signed the actual contracts. You can pull your offer at any stage. And even if they have agreed to sell it to you, they can change their mind.
Brendan
Buying a IBRC property
I know that is the normal case in straight purchases- but is it similar for one where the vendor has a number of properties assessed by IBRC credit committee and where KPMG have approved bids for their sale - does the vendor have the ability to bring in another potential purchaser that would have to go through the same approval process etc.
Equally is this something KPMG could do - is there something about theses property sales needing to be completed very early in 2014 before they are taken over by NAMA?
I know that is the normal case in straight purchases- but is it similar for one where the vendor has a number of properties assessed by IBRC credit committee and where KPMG have approved bids for their sale - does the vendor have the ability to bring in another potential purchaser that would have to go through the same approval process etc.
Equally is this something KPMG could do - is there something about theses property sales needing to be completed very early in 2014 before they are taken over by NAMA?