We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Risks of buying from someone who was declared bankrupt and valuation query
Options
Comments
-
Hmm... and would it be in their interests to slow the process down or speed it up?0
-
Strictly speaking, solicitors' interests should be aligned with the client's interests. So if the vendor WANTS to drag things out, his solicitor would do so at his request, and if he wanted everything done as fast as possible, his solicitor would attempt to comply. In general, though, solicitors just work at a pace that's essentially determined by their workload. They don't have a particular incentive to go fast or slow - they want to complete the process and get paid, but they've also got a bunch of other work they want to get done!0
-
ThePants999 wrote: »Strictly speaking, solicitors' interests should be aligned with the client's interests. So if the vendor WANTS to drag things out, his solicitor would do so at his request, and if he wanted everything done as fast as possible, his solicitor would attempt to comply. In general, though, solicitors just work at a pace that's essentially determined by their workload. They don't have a particular incentive to go fast or slow - they want to complete the process and get paid, but they've also got a bunch of other work they want to get done!
I've gotten a few quotes today and the solicitors seem generally optimistic that things will go smoothly (maybe to convince us to instruct them?) so we decided to try with A. We're not in a rush and B probably won't wait around but we've come to terms with the fact that if we walked away with nothing and just a couple of hundreds down we're fine with it.
Thanks for the advice!0 -
If this person has been made bankrupt can you be certain that this house is still theirs to sell?0
-
Your solicitor certainly won't let you get anywhere NEAR exchange without being absolutely certain of that. There may be charges against it - and their solicitor needs to demonstrate they can be satisfied from the sale proceeds.If this person has been made bankrupt can you be certain that this house is still theirs to sell?0 -
Your solicitor certainly won't let you get anywhere NEAR exchange without being absolutely certain of that. There may be charges against it - and their solicitor needs to demonstrate they can be satisfied from the sale proceeds.
Now the dilemma, to use a local more expensive solicitor or a cheapie from some broker like Fridaymove...!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards