Purchased property at auction - want to pull out

Doozergirl

stevenbeck1 wrote: »

He knew the sellers name. Told me he had an interest in the property and that he would be placing a charge on the property to stop it from being sold. I should back out otherwise it will get messy and I will be sued by him, etc etc.

Then he is an idiot as he clearly has no idea how the auction process works, let alone how to dispute a property sale.

societys_child

stevenbeck1 wrote: »

He knew the sellers name. Told me he had an interest in the property and that he would be placing a charge on the property to stop it from being sold. I should back out otherwise it will get messy and I will be sued by him, etc etc.

If he could put a charge on it, don't you think he'd have done that before now, instead of standing at the auction (probably bidding)?

Wonder what he thinks he can sue you for.

stevenbeck1

societys_child wrote: »

If he could put a charge on it, don't you think he'd have done that before now, instead of standing at the auction (probably bidding)?

Wonder what he thinks he can sue you for.

Yes that is exactly what I thought at the time.

But then when I got home, I started thinking and doing some research into charges etc. He cannot put a charge but I think he can put something called a unilateral notice stating his interest in the property. Apparently it is fairly easy to do and no proof is required upon application. Proof is only required if the current owner wants to cancel it.

I wonder what would happen if it did appear on the title now that I have exchanged and when it completes. Will discuss with solicitor on monday to see if this might be an exit route.

davidmcn

stevenbeck1 wrote: »

He knew the sellers name.

Isn't that in the legal pack?

Bossypants

stevenbeck1 wrote: »

I wonder what would happen if it did appear on the title now that I have exchanged and when it completes. Will discuss with solicitor on monday to see if this might be an exit route.

Do you want to buy this property? Not that it makes any difference to the outcome, but your solicitor has queried his solicitor and been told there is no problem, and a number of knowledgeable people in this thread have explained to you that 1) what you were threatened with is highly unlikely, and 2) even if somehow it did come to pass that this guy has an interest, that would render the seller unable to complete which puts you in the position to sue. But in spite of this, you are still looking desperately for 'exit routes'. Why?

Here is some well-meaning advice, unrelated to what you do with the house: Turn your device off and go to bed now. Tomorrow, do something active and social during the day and watch a good, absorbing film in the evening. Then go to bed at a reasonable time. Do the same on Sunday. Set a bedtime alarm if you need to and stick to it, just whatever you do, DO NOT start poring over the internet, with all its facts and 'facts'. You have two full days before you can do anything at all about this, which for someone in your headspace can be a very, very long time.

Good luck, whatever happens!

NYM

If you pull out because of the perceived intimidation, the vendor gets to keep the deposit (and can even sue you for any eventual loss he makes if the property doesn't sell for as much as you've bid)

:think: Maybe the guy was in cahoots with the Vendor? If he does it often enough, he will have made his money AND gets to keep his house.

...(and no, I'm not being serious)

stevenbeck1

Thank you for all the advice so far.

I will leave things as are for now and see what happens Monday.

Hopefully it is nothing more than someone trying to cause issues in the transaction for there own gain.

Hoploz

I would think if there was some sort of dispute over a will, it would boil down to the £££.

When the house is sold then the funds will be distributed according to the will. This is the bit that needs to be dealt with by the miffed person.

The house would be sold regardless of the eventual distribution of the funds.

Take no notice and enjoy the property.

eddddy

stevenbeck1 wrote: »

Thank you for all the advice so far.

I will leave things as are for now and see what happens Monday.

Hopefully it is nothing more than someone trying to cause issues in the transaction for there own gain.

Don't forget that you have contractually agreed to buy the property - and you probably have 28 days to complete.

And your solicitor's office is likely to be closed for at least a week over Christmas/New Year.

So don't let this side track you from getting the purchase funds to your solicitor, and completing any formalities required by your solicitor.

pinkshoes

I think you are worrying over nothing.

The wierdo at the auction was clearly some bitter relative who thought he should inherit, when the house was no doubt left to someone else. If the person has owned the house since 2014, they have had at least 2 years to put a charging order on the house.

Just carry on as normal, and if there are any problems, then it will be the seller having to compensate you for breaking the contract.