Factor fees liability for house move

Graykev

Hi,

I'm due to move house Friday 9th June but yesterday my solicitor identified that there is a potential outstanding liability for the factoring fees noted on the title deeds of the house I intend on buying.

She recommends not concluding until the current owners arrange something and my solicitor receives a discharge letter confirming that thier liability won't be my responsibility. I'm prepared to pay my share when I move in.

Is anyone able to confirm if this is common? Is it likely to be resolved in a week as time is ticking.... Surely they can't pursue me for a liability for when I wasn't even living there?

I'm in Scotland if that helps.

Thanks in advance for any advice.

Kevin.

davidmcn

Graykev wrote: »

Is anyone able to confirm if this is common?

Yes.

Is it likely to be resolved in a week

Yes.

Surely they can't pursue me for a liability for when I wasn't even living there?

Yes they can, that's the point of registering the notice on the title. Your solicitor's advice sounds correct, so go along with what they recommend.

I'm in Scotland

Yes, nobody else would be talking about "factors"

Graykev

OK, thanks for the reassurance. I have no doubt my solicitor is on the ball with this. My main concern was this causing delays pushing back moving day.

Will the current owners be expected to pay the balance? Or is it more likely they will dismiss it on the basis they haven't paid up to now and the new owners (me) will pay?

davidmcn

Graykev wrote: »

Will the current owners be expected to pay the balance? Or is it more likely they will dismiss it on the basis they haven't paid up to now and the new owners (me) will pay?

Sellers always pay all sums due up to the date of sale, it's not something anybody negotiates about.

saajan_12

Not sure if this is how it works in Scotland, but to speed things along, could you agree to reduce the purchase price by the outstanding liability and then you pay it?

davidmcn

saajan_12 wrote: »

Not sure if this is how it works in Scotland, but to speed things along, could you agree to reduce the purchase price by the outstanding liability and then you pay it?

The only real stumbling blocks might be (a) if there is a dispute about whether the sums are actually due (e.g. because they've been wrongly charged or have already been paid), or (b) the seller doesn't have enough equity to cover the cost at settlement. Reducing the price won't solve either of these.

Graykev

The seller will have enough equity to cover them but I just hope they do. I'm assuming they haven't been paying it for a reason so of they maintain the same principles they may refuse now.

Bur surely they wouldn't allow this to ultimately prevent them selling their home. It'll just crop up again and again on the future of they don't pay now.

I just want things concluded!!