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Buying a repossession - DIY conveyancing complications?
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If you make an offer in the case of a repossessed house, presumably the bank / building society has to decide whether to accept, or negoiate. With a private seller, the estate agent can just phone up the seller and informally discuss your offer and haggle. But with a bank, there must be a committee or something - I doubt that there is one guy in a bank who can just dedcide what offer to accept? And committees are slow!0
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I agree with Risk Averse when he says that a mortgage lender will appoint its own solicitor so there will be little saving on conveyancing fees, and also that with a repo the seller/lender knows nothing about the proeprty and so will not be able to give much information.
They also tend not to be happy for you to send a CORGI man in to check the central heating because it is oftne a term of their insurance that water systems are drained down!RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
Please note this thread is over 2.5 years old! :eek:
Post #9 onwards is more recent
"Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100 -
How do I find Post #9 please?0
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http://forums.moneysavingexpert.com/showpost.html?p=13544407&postcount=9 or scroll up and look at the numbers in the top right corner of each post.iwanttobuyahousecheaply wrote: »How do I find Post #9 please?After the uprising of the 17th June The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee Stating that the people
Had forfeited the confidence of the government And could win it back only
By redoubled efforts. Would it not be easier In that case for the government
To dissolve the people
And elect another?0
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