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Offer accepted on house...

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1865ST
1865ST Posts: 40 Forumite
in House buying, renting & selling
I've recently had an offer accepted on a house. The house is empty and has been for several months though it's in very good condition. The owner has apparently moved to a different part of the country.

I was wondering how in depth my solicitors checks would be on checking to see if the seller is indeed the real owner of the property, I'm concerned about house fraud. The seller is very keen to get the deal completed asap.

Thanks for any help.

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  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
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    Your solicitors would do this normally even if the sellers weren't in a different part of the country. This is part of the searches work that they do.
  • Davesnave
    Davesnave Posts: 34,741 Forumite
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    edited 11 September 2017 at 12:54AM
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    The seller is probably keen to see completion because having an empty house in another part of the country is a worry and a financial drain.

    You are paying a solicitor to do all the necessary work to ensure the seller has good title to the property, so you don't need to be concerned. They will also be paying for professional insurance, which would cover costs in the unlikely event of any fraud succeeding.

    You say the house is in good condition. Is this based on a surveyor's buildings survey, or your own observations? Most problems people have with houses are related to structural weaknesses, not defects in the title.
  • 1865ST
    1865ST Posts: 40 Forumite
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    The solictors have professional insurance? What's it called?

    Just my own observations....new boiler, kitchen, bathroom, windows etc.

    I am planning on having a full structural survey done.

    The seller also asked to see my proof of funds which made me a little wary.

    Thanks for the replies.
  • tom9980
    tom9980 Posts: 1,990 Forumite
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    1865ST wrote: »
    The solictors have professional insurance? What's it called?

    Just my own observations....new boiler, kitchen, bathroom, windows etc.

    I am planning on having a full structural survey done.

    The seller also asked to see my proof of funds which made me a little wary.

    Thanks for the replies.

    Nothing unusual at all, everything you have mentioned is normal and indeed common practice.
    When using the housing forum please use the sticky threads for valuable information.
  • Davesnave
    Davesnave Posts: 34,741 Forumite
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    1865ST wrote: »
    The solictors have professional insurance? What's it called?.
    Believe it or not, 'professional indemnity insurance' or PII.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    Davesnave wrote: »
    They will also be paying for professional insurance, which would cover costs in the unlikely event of any fraud succeeding.

    Hmm. It would cover the solicitors in the event they're accused of having been negligent, it's not an absolute guarantee that there couldn't be a loss resulting from the other party being fraudulent. But the mere fact that the seller doesn't live in the property isn't in itself a warning sign of anything - it's perfectly normal.

    The sellers' solicitors require to check their clients' ID (though are limits to how far you can go to confirm that the Joe Bloggs sitting in front of you is the same Joe Bloggs who is the registered proprietor!).

    There's also the guarantee provided by land registration - once you have a registered title then (assuming you've acted in good faith) you have a good title. It's the "real" previous owners who bear more of a risk from any such fraud (all they can do is claim cash from the land registry, rather than get their house back). But such cases are incredibly rare, I know they make for sensationalist newspaper articles. Find something else to worry about - you'll have plenty of options coming up!
  • catshark88
    catshark88 Posts: 1,099 Forumite
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    1865ST wrote: »

    The seller also asked to see my proof of funds which made me a little wary.

    Why???? The seller needs to know that you are able to proceed!
    "Have nothing in your houses that you do not know to be useful, or believe to be beautiful." William Morris
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