Advice required 1st time buyer

J

johnr1234

Guest
In August, I put a bid on an apartment in Galway. I was informed by the auctioneer that the vendor was looking for a 'quick sale' as she was planning on buying another house.

I paid my booking deposit the following week, but have been told that nothing has happened in the meantime as there is a delay in getting the vendor's deeds, either to her solicitor or her auctioneer.

I've speculated that the vendor is trying to see if the property is going to increase in value, and then come back and demand more money from me. I said this much to the auctionerr but she has reassured me that this is not the case.

Considering that contracts cannot be drawn up until the deeds are in the possession of her solicitor, and that it is now coming up on 10 weeks since I've placed my booking deposit, what course of action do I have to expedient the sale or should I just start making ultimatum's?

Any advice would be appreciated.
 
You are not committed to purchasing the property until the contract is signed so you should perhaps start looking for another property - if the deeds are lost the purchase could be delayed indefinitely. It's not the vendors fault or the auctioneers so it would be polite to tell them that unless you can sign within (say) 6 weeks you'll have to wihdraw.

Sarah

www.rea.ie
 
Thanks for the advise Sarah.

Unfortunately when I viewed the property and was told the vendor wanted a 'quick sale' I assumed that the deeds would have been in her possession.

I will put a deadline for the end of November and in the meantime look for alternative places.

Thanks again.
 
John 12334
A friend who had a apartment in Galway, tried to sell it late last year and there was an issue with the deeds and a solicitor. They went sale agreed but it took them over 6 month to get it sorted using a different solicitor.

Point to note: They pulled out of the sale agreed after 6 months and put it back up for sale got a nice few € more at the time. They were initially frustrated at the time delay but then delighted with the increase in value. I am sure the person who was sale agreed for 6 months was not to pleased. So be wary there is no guarantee until you sign the contracts.
-Gal1
 
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