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Who owns the house now??
bedford_or_bust
Posts: 9 Forumite
We were going to offer on a house but its been taken off the market because the vendors company has gone into liquidation. I think it was on the market whilst the winding up petition etc was going through. They bought the house under the company name- will it still be theirs to sell or will it now belong to the creditors? If so will it automatically go to auction? Quite a few very similar properties in the area have done...
Any advice greatly appreciated as i know nothing about law!!
(also posted in bankruptcy)
Any advice greatly appreciated as i know nothing about law!!
(also posted in bankruptcy)
0
Comments
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Well, if it is an asset of the company then it will fall under the control of the liquidators who should be bound to get the best price for it as part of the liquidation. Their assessment of how to do that is down to them as long as they can demonstrate they acted reasonably.
Call the liquidators and ask.0 -
If the liquidators are happy that you are not in any way connected to the vendor, and consider your offer reasonable then they may accept it, saving on auction commissions etc.
They may be concerned, however, that the company was trying to sell an asset quickly and therefore advertising it at less than market value.
The only way to find out is to ask."When the people fear the government there is tyranny, when the government fears the people there is liberty." - Thomas Jefferson0 -
Thanks for the advice, I'll pluck up the courage and contact the liquidators...0
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MacMickster wrote: »If the liquidators are happy that you are not in any way connected to the vendor, and consider your offer reasonable then they may accept it, saving on auction commissions etc.
They may be concerned, however, that the company was trying to sell an asset quickly and therefore advertising it at less than market value.
The only way to find out is to ask.
Good points.
I'm guessing 1 won't be a problem but 2 might well be. Did it seem to be particular bargain?0 -
Good points.
I'm guessing 1 won't be a problem but 2 might well be. Did it seem to be particular bargain?
Yes, I'm afraid it probably was priced to sell before, but marketed poorly. The vendors had paid hugely over the odds when they bought it a few years ago which perhaps led to their subsequent problems.
How would I pick a price to offer to the liquidator/ trustee?0 -
go low and get a feel of what they want...if it was up for 200k i would start at 140k and wait for the reaction...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0
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