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Repossession public notice always mandatory?!
actOn
Posts: 10 Forumite
Hi,
I was progressing with the purchase of a repossessed house earlier this month, and got gazumped a week before exchange of contracts. Through this time, a public notice was imposed on the RightMove listing.
The people that are now inline have supposedly offered above the asking price, and as such the EA has said that the asset management company have not instructed a public notice (and do not require one) as the offer is in excess of the asking price.
Does this sound right?!?
I was progressing with the purchase of a repossessed house earlier this month, and got gazumped a week before exchange of contracts. Through this time, a public notice was imposed on the RightMove listing.
The people that are now inline have supposedly offered above the asking price, and as such the EA has said that the asset management company have not instructed a public notice (and do not require one) as the offer is in excess of the asking price.
Does this sound right?!?
0
Comments
-
Yes.
There is no legal obligation to post ANY public notice. Most banks do so in case they are ever accused of not having sought the best price. But once is usually all they bother with.0 -
Yes.
There is no legal obligation to post ANY public notice. Most banks do so in case they are ever accused of not having sought the best price. But once is usually all they bother with.
OTOH you will find that EAs sometimes post "we have had an offer blar blar blar" when they haven't, to try and flush out people waiting for a reduction.
IME they just end up with egg on their face, but it sometimes works.0
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