House not selling - handing keys back?

Guest101

Why in the world did ur gf not rent?! And what solicitor said this was a good idea?!?!?!

sonastin

Do you know who stands to inherit the Nan's house? Do your GF and her sister have other family? If there are no other relatives they might have inherited the house but they'd need to sort out probate first to make it legal. If there are other family members, they might be entitled to a share to (or the whole property) - what will they have to say about the sister's refurbishment efforts?

In reality, its not your problem to pay the mortgage and its not your GF's. GF needs to work with sister if she doesn't want to drop her in it but if she really can't afford it, the mortgage company is going to be going after sister and ex.

Blackpool_Saver

What a bizarre situation

Running_Horse

Virtually everyone is contactable these days, usually within minutes by those who know what they are doing.

Two bus stops away from Manchester? Manchester is a big city. Which part is it two bus stops away from?

Rightmove link? Maybe some on here can help with advice to get offers in, assuming true ownership can be established.

Not much surprises me, but this situation...

ethank

BlackRaven wrote: »

It won't have a profit so her ex not interested full stop. Her ex sent a letter to the house saying not interested and saying agrees to let her sister do what she wants with no further claim.

This will not be suitable for the solicitor. He will need to sign the sales contract.

BigAunty

BlackRaven wrote: »

If could hand keys back now and not pay a penny more we would be happy.

Shelter are housing experts and their website provides advice for distressed homeowners at risk of mortgage arrears and repossession. Read the info there on other options.

They caution against handing back the keys and indicate its really a last resort. The person voluntarily handing back the property still has to pay the mortgage until its sold by the lender, the legal fees and as its sold for peanuts at auction, is liable for the significant negative equity and can face repair costs after handing over the keys, too.

luckbox

Saying Ex is uncontactable will not resolve this situation. He must be tracked down if GF does not want to leave sister in the lurch, simple as that. This is something that GF should be in the best position to do. If he was genuine in saying he wants nothing further to do with the house, get a legal document drawn up by a solicitor transfering deeds to the sister for him to sign and then the position will be a lot healthier, with just Sister on the deeds.

Once this is done, we can then look at the situation of the house not selling.

BigAunty

BlackRaven wrote: »

Her ex is not paying anything towards house, has written it off and no idea how would even find them - just disappeared with new girlfriend.

.

Landlords whose tenants disappear often employ a tracing agent for a small fee to find them. Tenants with rent arrears try to stay off the radar by not appearing on the electoral register for example but I believe the tracers find them through their mobile or bank statement addresses.

Nonetheless, joint owners have a joint/several liability so there is no such thing as a 'share' of the mortgage, either or both or liable, the lender doesn't care who it pursues, it can force one or other to pay.

GwylimT

First, your girlfriends sister needs to trace the other owner of her property, its he house, so it is her responsibility. If she is unable to this then she could go to court to gain permission to sell the property, when this is done any equity is split 50/50, the absent parties equity is held for x amount of years, I can't remember how many.

Second, once your girlfriends sister has permission to sell the house she needs to get it sale ready, the fact that an offer hasn't been could be two issues, firstly it needs some work/lower price, or it is the fact that when a person is interested the estate agent has to inform them that they house isn't actually for sale yet as the owner hasn't given permission.

It cannot be rented out as again, this needs both owners permission to re-mortgage, there are two options, you girlfriend continues the mortgage, she pays half while her sister pays half, or her sister pays her own mortgage until there is actual permission for a sale.