duty to get highest pricee for repossession??

j_carnee

i am highest bidder for property,but bank solr will not sell to me because i am self conveyancing.prepared to offer 10% more than existing offer
......poor debtor will lose.is this illegal????bank ombudsman/financial service authority do not cover.does? anyone???

[Deleted User]

Why Self Conveyancing? They are probably refusing your offer as they will want to exchange as quickly as possible. Things may be more complex than a usual purchase & you may not be able to act quickly enough?

I recently bought a repo & there were a complex issues that had to be sorted.

j_carnee

can complete within 24hours!!!very simple process,have done over 6 times.

Thrugelmir

j_carnee wrote: »

,but will not sell to me for self conveyancing.

The bank is within its rights to accept or decline any offer.

One assumes in this case to minimise its legal costs.

G_M

They can sell to who they want. Yes, duty to get best price for repossessee but if they have grounds to believe the sale may be delayed, or founder, they have duty to sell to a 'progressab;le' buyer.

I am sure you are capable - I too have bought/sold and done conveyacing myself, so I'm an advocate.

But I'm afraid you have no bargaining strength, and nowhere to turn to complain.

Appoint a solicitor, or lose the property.

j_carnee

Thrugelmir wrote: »

The bank is within its rights to accept or decline any offer.

One assumes in this case to minimise its legal costs.

what about common law duty to get highest price and make good debt as best can???
selling to self conveyancer incurs no extra costs.

j_carnee

G_M wrote: »

They can sell to who they want. Yes, duty to get best price for repossessee but if they have grounds to believe the sale may be delayed, or founder, they have duty to sell to a 'progressab;le' buyer.

I am sure you are capable - I too have bought/sold and done conveyacing myself, so I'm an advocate.

But I'm afraid you have no bargaining strength, and nowhere to turn to complain.

Appoint a solicitor, or lose the property.

if there IS legal duty.......I CAN FIND NO BODY TO DISCUSS??
i am in position to complete highest in 24hours.......if not clear cut case,what is

j_carnee

Thrugelmir wrote: »

The bank is within its rights to accept or decline any offer.

One assumes in this case to minimise its legal costs.

so they can accept 50% less if they choose........

SecondTimeBuyer

Why not get a quote from a solicitor and reduce your offer by a corresponding amount?

jbainbridge

SecondTimeBuyer wrote: »

Why not get a quote from a solicitor and reduce your offer by a corresponding amount?

Now there's a sensible suggestion!

Catherine_Johnson_2

j_carnee wrote: »

am highest offeror for property,but will not sell to me for self conveyancing.am prepared to offer 10% more than existing offer
......poor debtor.is this illegal????bank ombudsman/financial service authority do not cover.who does????

What's the problem? Either you want the property or you don't. If you want the property, appoint a solicitor or conveyancer. The cost is minimal considering the price of buying a property.

Maybe English isn't your first language (based on your writing here) and maybe the seller is confused about what you are proposing?