Deeds From Bank

R

roker

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How long does it take for the solicitor to obtain the deeds from the bank with a view to selling?
 
It usually takes only a few days certainly no longer than a week. Has your solicitors asked you to sign a letter giving them your permission to take up the deeds on your behalf as the bank will not hand them out without your signed authority.
 
It can take a great deal longer than a week!

Once the solicitor sends in the request for the deeds, with the authority of the client, in my experience, it can take anything from 2-3 weeks up to 2 months - and that is going on recent applications.

The banks operate with varying degrees of competence /efficiency.

mf
 
It's been 3 weeks to date, during the waiting time either party could pull out as the contract cannot be signed
This could encourage gazumping
 
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It's just a waiting game so. I might contact my solicitor later this week but don't know if that will even speed things up.
 
Hello,

This is a long standing and wide spread problem ... mf1 is entirely correct, it can drag on for months (if it is permitted to do so).

Two things can be done to help speed up the process:
  • get your solicitor to send a follow up letter, citing the date that the request was sent in and indicating that you will hold the outgoing lender responsible for all losses, if you lose the sale over this delay.
  • send in a complaint to your lender.
Too many of us have tolerated these inexcusable delays for too long, that's why they continue.

The reality is that there should be (and easily could be) a formal time limit imposed on all lenders to respond to requests for release of deeds on Accountable Trust Receipt, but like many other things, neither the Central Bank (or the Law Society) have done anything to put an end to the problem.
 
I have a question re the deeds for my house, Where is the best place to keep them ??
The reason I'm asking is I paid off both my mortgages, the first in March 15(SVR) and the second this year in April(Tracker)but haven't requested the deeds from the bank
Is it okay to leave them with the bank for storage or should I request them and store them somewhere safe ??
 
That's what I did it simplified thing when I sold the house. In fact the buyer was cash and the house sold and handed over in a month
 
I'm a solicitor and I don't want to keep clients' Deeds! Way too much responsibility.

This is a facility I have come across: http://deeds.ie/

No affiliation.

mf
 
Hell mf1,

That service looks useful.

I know there are a few safety deposit box operators in Ireland, who may also provide a solution. From a very quick glance, costs may be higher but I suppose there is an attraction to being able to store more than just title deeds there.
 
Update on my situation... My solicitor actually did get them on 20th October! Contracts sent out to buyers solicitor.... Mine just never thought to tell me!
 
Solicitor received them after 5 1/2 weeks. I complained to TD but he didn't seem to get the point that it happens to everyone, he wanted to contact the bank on my behalf
 
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