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No Title Deed, why so cheap
sj1147
Posts: 36 Forumite
Hi i looked at a property a few months ago that was being advertised at a very cheap price. I enquired after it as an investor, i want to rent it out. I was told by the Estate Agents that most solicitors have advised potential buyers not to proceed, as there is no title deed for the property. The Estate Agents said it was a nightmare and put me off. I have now seen the house up for Auction and wonder if anyone can advise me. Is this a nightmare purchase?
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Comments
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"no title deed" isn't informative.
It might be unregistered land, in whcih case the title would need to be traced....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »"no title deed" isn't informative.
It might be unregistered land, in whcih case the title would need to be traced.
Hmm Ok , I will find out some more details. Thanks0 -
Also it is possible to get specialist insurance for defective title. A good solicitor should know of this and be able to point you in the right direction if it can help in your case.If you feel my comments are helpful then I'd love it if you 'Thanked' me!
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If it's in an auction, you would need to get the Title investigated by your solicitor before bidding anyway (since once your bid is accepted you have to buy whatever the defects in the Title!).
So get your solicitor (assuming you're using one) to take a look.0 -
If it's in an auction, you would need to get the Title investigated by your solicitor before bidding anyway (since once your bid is accepted you have to buy whatever the defects in the Title!).
So get your solicitor (assuming you're using one) to take a look.
Note emphasised words!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
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