Jim Stafford
Registered User
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- 631
Raging Bull said:
.. I haven seen plenty of receivers selling significantly undervalue in one case a 170k property for 25 k....
I have never seen a Receiver knowingly sell a property at an under value. Selling a property in such a way would expose them to legal action for negligence. I am unaware of a single Irish High Court judgment which found a Receiver liable for selling at undervalue. Receivers rely on their auctioneers for professional guidance.
Sometime properties could be sold at auction for considerably less than what the owner expected. However, in many cases the lesser amount achieved is attributable to issues such as incomplete title, planning, fire safety certs, asbestos, environmental contamination,structural defects etc
Jim Stafford
.. I haven seen plenty of receivers selling significantly undervalue in one case a 170k property for 25 k....
I have never seen a Receiver knowingly sell a property at an under value. Selling a property in such a way would expose them to legal action for negligence. I am unaware of a single Irish High Court judgment which found a Receiver liable for selling at undervalue. Receivers rely on their auctioneers for professional guidance.
Sometime properties could be sold at auction for considerably less than what the owner expected. However, in many cases the lesser amount achieved is attributable to issues such as incomplete title, planning, fire safety certs, asbestos, environmental contamination,structural defects etc
Jim Stafford