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Reposession
Comments
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there are some statement that are obscure:
- "the seller shall be responsible for any sum which relate to a period prior to completion provided that demands are received by the seller prior to the completion but it is hereby agreed that the buyer shall be responsible for any sum for which demands are received on or after the completion whether or not they related to a period on or after completion whether or not they relate to a period prior to the completion date "
is that a standard statement? if I get it right it should mean that I'm reliable for these sums if they arrive after completion
Thank you Richard my solicitor has told she has sent me the contract again and the report on friday but I didn't get it yet I will ask her if she has investigated the matter
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there are some statement that are obscure:
- "the seller shall be responsible for any sum which relate to a period prior to completion provided that demands are received by the seller prior to the completion but it is hereby agreed that the buyer shall be responsible for any sum for which demands are received on or after the completion whether or not they related to a period on or after completion whether or not they relate to a period prior to the completion date "
is that a standard statement? if I get it right it should mean that I'm reliable for these sums if they arrive after completion
Thank you Richard my solicitor has told she has sent me the contract again and the report on friday but I didn't get it yet I will ask her if she has investigated the matter
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It's a bit wide. I would ask your solicitor to ask the vendors whether they are aware of any demands in the pipeline. Basically, the lenders want shot of the whole thing at completion, and who can blame them. Nevertheless, if they are aware of a big bill pending, they ought to take responsibility for that even if they have not received the bill by the time of completion.
I have not bought anything in the last 10 years, but for a non-repossession sale the practice always used to be that the vendor was liable for bills incurred up to the date of completion. However if the lenders are refusing to amend the contract in any way you will just have to make a commercial decision.No reliance should be placed on the above! Absolutely none, do you hear?0 -
when it talks about incumbrances on the property : " entries made in the registrars maintained by HM land registry which relate to the Property save for any matters which are overreached on a sale by mortagee" and "any matters or interests not overreached by a sale by a mortgagee. The property was sold in 2007 for 150k0
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You really need to talk this through with your solicitor instead of drip feeding bits of information to us here.
They have sight of the full legal pack and can tell you what is likely to be your best course of action.0
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