Did you buy at Auction /tender/private treaty .It would be helpful if this was cleared up,Did you pay a deposit knowing the terms of sale as published before hand and your solicitor did not pick it up,I suspect this is the reason Bank/Receiver sales take a long time to sort,Hi
Buying a house via an asset manager/receiver for market value.
As expected the solicitors are being very unhelpful our latest and final issue is that there are 3 mortgages on the property.
When our solicitor tried to confirm all these would be discharged when the Sale was complete. He was told that they can only clear the receiver/Boi's mortgage ie the Bosi and another finance firm charges/mortgage they didn't have to clear.
The contract doesn't say we've to take these on and we certainly didn't agree to that.
But now we are having to argue our case and it sounds like it's falling on deaf ears. We understand either they hand back to the bank to sign over as mortgagee in position or clear the charges from the sale proceeds. But they seem unwilling to do either.
Any advice before we walk away or case/law that insists they give us a clear title. It seems they cannot expect us to just accept these charges when they were never disclosed as part of the sale ?
Thanks
you need a good solicitor OP , most solicitors will encounter serious bowel problems instantaneously if they encounter anything related to title which is anything but pure vanilla
There are very good reasons why , as a profession, we profoundly dislike dealing with receiver sales.
There are, usually, great big gaps in title and supporting paperwork, rendering it impossible to certify title to a lender.
Cash purchasers can freely ignore these problems but generally won't listen when being advised that a property will be unsaleable in the future to anyone other than a cash purchaser.
And, yes, while time heals most things, it won't heal a bad title.
Your comments on the solicitors' profession are ill-advised, misdirected, played for laughs and poorly thought out.
mf
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