We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
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!
Question from buyer's solicitor
Comments
-
Complete cobblers, you can sell for whatever price you like, if the buyer doesn't like it they can buy something else!septictank wrote: »I've received a question from the buyer's solicitor asking why the price I'm selling is substantially more than what I bought it for. Is this usual?
A friend of mine has always put his new house straight back on the market after completion but at £100k more.
If someone made an offer he's sell to make a quick profit.0 -
capital0ne wrote: »Complete cobblers, you can sell for whatever price you like, if the buyer doesn't like it they can buy something else!
A friend of mine has always put his new house straight back on the market after completion but at £100k more.
If someone made an offer he's sell to make a quick profit.
The buyer would struggle for a mortgage with that turnaround0 -
Septictank hasn't told us how long he's owned the property, only that he renovated it. Either there's some guessing going on, or there's some confusion with Fozziebeartoo's "few months".0
-
Septictank hasn't told us how long he's owned the property, only that he renovated it. Either there's some guessing going on, or there's some confusion with Fozziebeartoo's "few months".
BIB - with the property we are hoping to buy (even with the huge increase in price
) the £60,000 increase is in 3 months.
No idea if that helps or hinders what the OP needed to know!
I still think it's also to do with money laundering when property is flipped........can you tell I watch Homes Under The Hammer??? :eek:0 -
Interesting reading. Thanks again. The buyer is a cash buyer with no mortgage. They are
very happy with the price as they know it was a derelict conversion. I am in contact with them. I have owned it for 5 years. It's not a 'flipped' property as I have been living there for the past three years. The renovations took 2 years. It has definitely come from the solicitor.
I have moved out now since the sale was agreed (3 weeks ago )as it's in a very remote spot and the solicitor is grilling me as to why my correspondence address is different from the property!!
"I note your correspondence address on your letter differs from the address on the contract and registers of title. If your address in ********* is your principal residence please provide updated Land registry title information document and contract."
and another " "Please clarify as to why your address is different"
Is THIS usual. as well.
Just a little more I am conveying myself as there is no mortgage, freehold and simple.
Regards0 -
septictank wrote: »I have moved out now since the sale was agreed (3 weeks ago )as it's in a very remote spot and the solicitor is grilling me as to why my correspondence address is different from the property!!
Both your solicitor and theirs face extreme consequences if it turns out the property has been sold fraudulently by someone masquerading as the owner. There have been cases where tenants have sold their landlord's property whilst living there.A kind word lasts a minute, a skelped erse is sair for a day.0 -
The solicitor has the land registry office copies proving ownership by me also a completed and verified ID1 proving my identity. + All the building reg notices with my name on. The estate agent selling also did identity checks on me.0
-
septictank wrote: »The solicitor has the land registry office copies proving ownership by me also a completed and verified ID1 proving my identity. + All the building reg notices with my name on. The estate agent selling also did identity checks on me.
With a considerable sum of money at stake. Fraudsters will go to extreme lengths to deceive. You'll never know what experience your solicitor has had previously.0 -
The OP says they have provided all the necessary proof of ownership and ID. The is no legal requirement for the OP to be living in the property up until the day the buyers move in.
The only thing I would be mindful of is that assuming the house is insured, the insurers will want to know if the property is vacant for any length of time, details will be in the policy.0 -
My solicitor asked the same question, unprompted by me. I already knew the answer!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards