Went Sale Agreed early October on a property. Supposed to close in a few days. Signed my side of things 2 weeks ago. Have been extremely prompt and organised, paid my solicitor, home insurance, life insurance, engineers report, valuation, bought all my flooring and beds (which i feel rather foolish about now) Told my excited little kids (which i feel even more foolish about) and now today have received communication from their solicitor that states that the seller can't close the deal as they have no permission from their lender to sell and no idea when they will get permission.
I was too shocked and upset to ask any questions. I've been waiting years and years for this and my kids were so excited and i'm so emotionally invested in the whole bloody thing. I wanted to have the keys so I could work on it over the kids holidays and get them moved before school restarts. My lease is due out in a few weeks and I'm going to have to try and deal with that too. So it's a bloody mess.
I have been told on the QT that this guy owes in the region of €30k to his bank in a residual balance is either not interested in paying it, or looking for a reduction.
So I'm in total limbo. Do I hang on? Anyone any idea how long this could take to rectify? In the meantime I've no guarantee that the sale will go through or that this guy won't pull the plug in the future, and it's extrememly stressful. Or do I take my money and buy a house from a motivated and organised buyer?
Surely the auctioneer shouldn't have been selling the property? They assured us everything was in order. Do I have any recourse here to recoup my outlay or do I just have to suck it up.
I don't know if I should wait in limbo or move on. I'm gutted at the moment, and I would appreciate feedback from anyone who has been in a similar position.
*edit called the auctioneers and they said they had no knowledge and were never informed and usually people would be upfront about it
I was too shocked and upset to ask any questions. I've been waiting years and years for this and my kids were so excited and i'm so emotionally invested in the whole bloody thing. I wanted to have the keys so I could work on it over the kids holidays and get them moved before school restarts. My lease is due out in a few weeks and I'm going to have to try and deal with that too. So it's a bloody mess.
I have been told on the QT that this guy owes in the region of €30k to his bank in a residual balance is either not interested in paying it, or looking for a reduction.
So I'm in total limbo. Do I hang on? Anyone any idea how long this could take to rectify? In the meantime I've no guarantee that the sale will go through or that this guy won't pull the plug in the future, and it's extrememly stressful. Or do I take my money and buy a house from a motivated and organised buyer?
Surely the auctioneer shouldn't have been selling the property? They assured us everything was in order. Do I have any recourse here to recoup my outlay or do I just have to suck it up.
I don't know if I should wait in limbo or move on. I'm gutted at the moment, and I would appreciate feedback from anyone who has been in a similar position.
*edit called the auctioneers and they said they had no knowledge and were never informed and usually people would be upfront about it
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