Hi All,
I am currently trying to purchase a property from a receiver. The house in question is in an estate with approx 80 houses and 4 that are not finished all houses are occupied and have been for circa 5 years.
It has been nothing but hassle since we started the process. We went sale agreed on the 10th of June nd only got the contracts from the vendor 2 weeks ago. Our solicitor has suggested we get the money released from teh bank before we put down the booking deposit as he thinks the bank might have issues with the contracts.
Please see below update I received from my solicitor today
The Bank came back seeking more information on management company, planning bond compliance and if the roads and services are in charge. I gave the bank details of the management company, I do not have info re bond, I have asked the vendor solicitors but got nothing back, I have also sent a letter to the planning department of xxxxx County Council today in the hope of getting the information. The roads and services are not in charge
At present no one in the estate is paying the management company but they are still legally attached to the estate.
Can anyone shed some light on what the likely response of the bank will be since the roads and services are not in charge? Also whats the likely hood of the bank allowing the sale to proceed with the current status of the management company
I am currently trying to purchase a property from a receiver. The house in question is in an estate with approx 80 houses and 4 that are not finished all houses are occupied and have been for circa 5 years.
It has been nothing but hassle since we started the process. We went sale agreed on the 10th of June nd only got the contracts from the vendor 2 weeks ago. Our solicitor has suggested we get the money released from teh bank before we put down the booking deposit as he thinks the bank might have issues with the contracts.
Please see below update I received from my solicitor today
The Bank came back seeking more information on management company, planning bond compliance and if the roads and services are in charge. I gave the bank details of the management company, I do not have info re bond, I have asked the vendor solicitors but got nothing back, I have also sent a letter to the planning department of xxxxx County Council today in the hope of getting the information. The roads and services are not in charge
At present no one in the estate is paying the management company but they are still legally attached to the estate.
Can anyone shed some light on what the likely response of the bank will be since the roads and services are not in charge? Also whats the likely hood of the bank allowing the sale to proceed with the current status of the management company
