Purchased property at auction - want to pull out

glasgowdan

In what scenario will you lose 300k?

stevenbeck1

glasgowdan wrote: »

In what scenario will you lose 300k?

If I buy and it comes to light that the current owner was not legally entitled to the property or it should not have been sold due to a dispute of ownership or inheritance.

iammumtoone

stevenbeck1 wrote: »

I then raise enquiries into this so called disputed inheritance claim and something comes to light.

You have raised a query with your solicitor who checked with the sellers solicitor who said there was no dispute. I don't see what else you can do to investigate.

As much as you are in a contract to buy, the seller is in the same contract to sell.

My guess is the person was some disgruntled relative of the deceased who wasn't in the will, they may want to raise a dispute but should have done so before now if they were going to, its not easy to dispute a will and costs a lot of money. I believe it is rare so try not to worry.

EDIT: just re-read your OP and you are buying from the owner of the house not the deceased estate. In that case I don't see how the will could be disputed as it seems the title deeds have already been transferred 2 years ago. Someone more knowledgeable will come along to confirm but I think there is a time limit for disputing a will which will have ran out.

stevenbeck1

Thanks for all your prompt replies guys.

Feel so stupid. It was my first property purchase via auction and it seemed all above board.

I am probably being nervous for no reason.

Just did not like the intimidation after the auction. Highly unexpected. And whatever they said has messed with my head.

I will proceed and see what happens.

stevenbeck1

If between now and completion a notice is put on the title - for example I have been reading about unilateral notices where someone registers an interest in the property.

What are my options then?

Surely I was not aware of this when I purchased and it could be put on at any point before completion.

marksoton

stevenbeck1 wrote: »

Just did not like the intimidation after the auction. Highly unexpected. And whatever they said has messed with my head.

What intimidation?

stevenbeck1

marksoton wrote: »

What intimidation?

The guy who approached me after the auction - telling me that I should not buy it and if I will end up losing the property as he would dispute the validity of current ownership.

G_M

If the seller is not legally entitled to sell, then he will be unable to sell to you.

HE will then be in breach of contract, and YOU will be able to sue him for all your costs/losses (including getting back your 10% deposit.

However, if YOU breach the contract then YOU will be sued.

jcgalliard

stevenbeck1 wrote: »

If between now and completion a notice is put on the title - for example I have been reading about unilateral notices where someone registers an interest in the property.

What are my options then?

Surely I was not aware of this when I purchased and it could be put on at any point before completion.

Hmmm...don't think that would be possible. Even if someone did that it would relate to previous owner and you may be able to remove it.

Not sure what others think.

eddddy

stevenbeck1 wrote: »

I was approached by someone at the auction who told me the current owner was not legally entitled to sell the property as it was part of a disputed inheritance.

Why are you taking any notice of a random weirdo who approaches you at an auction?

Random people have said strange stuff to me at property auctions, I never take any notice.