What would you do?

motherofstudents

We bought a house with possessory title and the vendors had an indemnity policy as they had been in the same position as us when they bought. We were told we could get full title eventually but we didn't quite stay long enough. We had no problem selling. Our solicitor (not conveyancer) told us there was absolutely no problem and nobody could turn up and take our house. If you really like it I'd make sure what the actual facts are. I would have thought your solicitor would not allow you to proceed if there was a problem.
If you decide to view other houses, and who could blame you, I'd tell the EA.

laurawilliams500

So, nothing else has really happened... We've e-mailed our solicitor to say we want to wait it out a little while longer in the hope the deeds turn up somewhere, as we obviously really like the house and there's barely anything else on the market at the moment matching our criteria. Also e-mailed the estate agent. BUT 1 house has come up that we like which we're going to view next Tuesday... the dilemma we'll have is if we really like it!

Do we continue to hold on to the property we're currently purchasing or put an offer in on the other place?! :eek:

Is there anything stopping a buyer from putting an offer in on a property when they're already pursuing another?

moneyistooshorttomention

I guess it boils down to how likely you are to decide to sell within the next 12 years then.

If the house proves to be noticeably "head and shoulders" over any contender houses - then I guess it's a case of proceed as per plan then (unless you are regarding it as a "step on the ladder" house). It will be annoying - even if its a "forever house" - as most of us like to feel we have the option in reserve to sell should our circumstances change.

Good luck with making the best decision on this.

laurawilliams500

We didn't see it as a step on the ladder house as it's a big 3 bed semi-detached, massive driveway and garden and detached garage. There's only the 2 of us at present! BUT to buy with possessory title would, in our mind, but a definite timeline on it in a way... and you just don't know what may happen in 12 years which may make us want to move!

ARGH :eek:

I don't like being an adult lol!

laurawilliams500

Latest is that I've heard from the EA today, who says the vendors solicitors are waiting on instructions from the vendor to go ahead and "pay for each individual document" and "once they have this they will carry out searches".

I obviously asked her to clarify... has he managed to source somewhere where he can obtain a copy of the deeds, or is he having to go through the process of registration with the Land Registry without deeds?

And she said obviously speak to my own solicitor but " the information they are waiting for is from West Riding Archives". I don't want false hope but I'm feeling a bit positive that this could mean the archives have produced something!!! I mean, would they charge individuals for them to actually check... I assume not and rather you pay up should the archives have something you want a copy of.

Hmmm. We'll see!

ERICS_MUM

When you are investing hundreds of thousands of pounds into somewhere that will be your home, you have to be selfish and do what's best for you. The other parties (vendors, buyers and estate agents etc) certainly will be.

Take time to find the 'right' property but I wouldn't stress too much if your ideal property slips through your hands. Buying a property isn't an exact science !

eddddy

laurawilliams500 wrote: »

Latest is that I've heard from the EA today, who says the vendors solicitors are waiting on instructions from the vendor to go ahead and "pay for each individual document" and "once they have this they will carry out searches".

Is the vendor's solicitor really giving the EA blow-by-blow details like that? I would be slightly sceptical.

I suspect the EA's information came from the vendor (and vendors sometimes embellish the facts, as do EAs).