Last minute title issues - a long forgotten lease

bigfoot371

Land_Registry_representative wrote: »

Thank you Land Registry! Sellers solicitor is evidently trying to play it down to pass the buck.

I'll go book my storage unit and find somewhere to stay until it's sorted.

MY solicitor hopes once submitted it can be expedited, let's hope!

lee111s

I still say you provide an ultimatum otherwise it'll just drag on

Slinky

I'd be pointing out to the vendor that your offer is reducing by the costs of the storage unit, perhaps that will encourage them to get their finger out and get it sorted.

Hoploz

I don't think there's any point playing hard ball on the timescale of this. Once the process is begun it looks as if it will take as long as it takes, and that will be out of the seller's hands.

It is a very small risk here but ultimately if the buyer's lender is not willing to proceed (I think you said they had released the money under the belief that it had been sorted out - which it hasn't, so your solicitor has a duty to return the funds and informing them of this) then this purchase cannot go ahead at the moment.

The seller can always pull out and find a cash buyer instead who is willing to go ahead with the knowledge of this problem and they can take their own chances.

What happens next will depend I suppose on the value of the property as it stands, to a cash buyer who might agree to buy it. Which I'd imagine would be quite a bit less. But it depends how much this hassle is worth to the seller,.

bigfoot371

The papers have been confirmed as submitted to the land registry according to my Solicitor.

Now just the waiting game, my solicitor tells me the LR are good if they know a sale is pending.

Sol's held onto mortgage funds until today - she seems to there there is a chance of getting sorted today. We will see.

I'll book cheap/refundable hotels for next week.

Land_Registry

bigfoot371 - we can be good if we know but that is normally down to the applicant telling us about the confirmed sale, submitting some evidence to confirm and then asking us to expedite matters. Hopefully that has been done.

Smodlet

Hi bigfoot. While this is of no help at all to you, now, maybe it will be to others who may read this... Avoid PPL like the plague, they are, in my experience and that of a whole lot of other posters on this forum, utterly useless/a complete nightmare.

From what you have said, I would just cut my losses and run, not walk, away. Now you have acquired this experience, your next purchase will be much better, I hope.

bigfoot371

Smodlet wrote: »

Hi bigfoot. While this is of no help at all to you, now, maybe it will be to others who may read this... Avoid PPL like the plague, they are, in my experience and that of a whole lot of other posters on this forum, utterly useless/a complete nightmare.

From what you have said, I would just cut my losses and run, not walk, away. Now you have acquired this experience, your next purchase will be much better, I hope.

Unfortunately I cannot select the sellers solicitor! I'm using a local family firm - no kickbacks so much cheaper.

My solicitor called her contact in Land Registry, we've been told they will look at it tomorrow and the contact said she'd try and get it completed tomorrow.

Let's hope.

bobobski

Sounds like it was a surrender by operation of law. The LR will accept that to close down a leasehold title but it's an !!!! to prove.

Insurance all the way, although that may not allow you to apply to the LR so make sure you don't invalidate the policy.

My biggest concern for you is how on earth your solicitor advised you to exchange (if indeed they did) with this issue unresolved. I'd say that's bordering on malpractice. Although I haven't read all the replies in detail so I could have missed something. (Hey, I'm off the clock.)

Basically, ignore PPL. (a) They are widely known to be generally awful. (b) It's in their interests to downplay this. (c) This is a big deal.

davidmcn

bobobski wrote: »

My biggest concern for you is how on earth your solicitor advised you to exchange (if indeed they did) with this issue unresolved. I'd say that's bordering on malpractice. Although I haven't read all the replies in detail so I could have missed something.

Yes, you've missed that they're advising the OP not to exchange.