What would you do?

laurawilliams500

I think me and my partner know in our hearts that we're going to pull out of this purchase. The vendor cannot find the deeds and they're checking the West Riding Archives as a last resort.

We think we'll give it a few weeks in the hope something may turn up but will tell the solicitor to cease any chargable work.

In the meantime we're thinking about looking at other houses. We've seen one on the market but it's with the estate agent so we don't know what to do because I'm absolutely sure they'd feed it back to the seller of the house we're still currently in the process of buying!

What would you do?

milton1970

I would be honest with the agent and advise that you are looking at other options due to the issue. It might make the seller focus on finding the deeds!

laurawilliams500

Thanks milton1970

This is so difficult! We feel almost certain we wouldn't proceed with possessory title but what's not to say it takes us months to find somewhere else for there to be some other kind of issue what that house?

So stressful

Davesnave

I would be up-front too. It's the vendor's fault.

The vendor isn't in a position to sell to someone else, and it's entirely reasonable to look at other options asap.

The EA won't mind either. They want their commission!

eddddy

I don't see any problem doing what you describe - including the EA telling the seller what's happening.

And realistically, the EA wants to get money in the bank. That will happen more quickly if you buy another property through them, rather than waiting for this one.

If/when you find another property you like, ask the solicitors for an update on the current property. If there's no news, offer on the other one.

milton1970

TBH .. I am probably a little ruthless ... I had a house buyer string me out for 6 months in the past

House buying / selling is one of the more stressful things in life but being the buyer you are in the driving seat and you should use that to destress the situation

Good luck

laurawilliams500

Thanks everyone!

I think we know what email we'll be sending the EA and our solicitor on Tuesday! Tbh we could proceed and have the decision made for us anyway when our lender decides to retract their offer because they don't want to lend on possessory... just too many what ifs, buts and maybes!

We're really fuming and upset... we really like the house, the area... how can the professionals working for the vendor not have told him to get this sorted before even putting it on the market never mind accepting an offer! Grrr. Lessons learnt though!

moneyistooshorttomention

I'm a bit confused about "not wanting to sell on possessory"????

Does this mean there is something a bit dicey one way or other on this house and the vendor has decided to "not find the Deeds" as their way to try and hide this fact?

With any house that has been sold at some point during the last 20 (?) years or so, then the Land Registry will have the house registered with them anyway - so its no big deal and one would assume perfectly safe to proceed?

So I guess its got to be one of two things:
a. The house hasnt been sold recently enough to have a modern day Register entry/Title Plan and its necessary to have those deeds found in order for the Land Registry to do this

OR

b. There's something dicey somewhere - and I am wondering about that word "possessory"...

Which of those two scenarios is it?

laurawilliams500

The leasehold isn't registered with LR and they currently can't find the deeds = very highly likely they're going to have to apply for first registration and get possessory title rather than absolute because they don't have original docs. Obviously there's numerous long-term consequences of purchasing with possessory title including saleability... if we're seriously considering pulling out, we're gonna have the same issues if we buy then come to sell (you can't upgrade possessory to absolute title for 12 years).

laurawilliams500

So scenario A!

Davesnave

I bet you enjoyed explaining all that!:rotfl: