Reposession/Freezing Order

Wako2010

We are trying to buy a reposession. Our bid was accepted in December and were told exchange within 28 days, this date has long been and gone.
We are now, since January, waiting on the copy of a freezing order from the last owner before we can exchange.
It has been 2 long months and still no paper work.
Our solicitors are out of ideas as all we are told from the selling solicitor is, they await legal paper work of the freezing order from the courts. Nothing can proceed until then.
With this being a reposession, all our fees and
Mortgage app are in place still with the possibility of being gazunped by another offer.
Any one ever experienced anything like this, idea of time or any advice please?

G_M

It's a repo.

And it's been marketed before the repo is complete.

You can
* sit and wait and hope not to get gazumped
* jump up and down and scream
* start looking at other properties while still waiting on this one
* walk away and start looking at other properties

Wako2010

Thanks for the advice.

Any ideas how long a reposession takes?

G_M

Between 1 and 52 weeks.

Wako2010

Thanks and I hope everyone else get this level of help from you

G_M

You're welcome.


yes - everyone gets equally accurate responses to vague unanswerable questions!

LilElvis

Wako2010 wrote: »

Thanks and I hope everyone else get this level of help from you

You've already said that your solicitor - who is in communication with all parties - has no idea how to progress this, but you are affronted that random strangers on the internet can't give you an accurate timescale?

Seriously, what do you expect anyone to say?

Here goes:
It's all going to be plain sailing from now and you'll be in your new home by my birthday (a date you don't know, but sometime in the next 12 months)

Wako2010

I was merely asking if anyone else had experienced this scenario. The property is empty, the EA has a new set of keys (old barrels were visible in the property) so I would presume the property belongs to the bank. If so, it would be fair to think the repo was complete on this basis. However, the information I have received was to do with a freezing order the solicitors are waiting for from the courts. I wanted to know if anyone had experienced this before and if so how long did they wait?

I do apologise for asking a question on an advice forum.

G_M

Again, without knowing the reasons for the freezing order, or any other legal/procedural history /backgound, it is impossible to give timescales other than those already offered.......

lisyloo

I have had experience with the court of protection (not the same I know).
It took 6 months for me to get a court order.
At one point they told me that court alone had a backlog of 4000 cases.
I did email and ring up for progress and after emailing I did get some action (although took them about 10 days to respond to email).
I’m not sure there is much you can do TBH.

Wako2010

I am now at month 5 of trying to buy the repossession. The sellers solicitors have the freezing order back which states the person whom owns the property was involved in a large scale property fraud syndicate back in 2010. We have now been informed they have applied to the courts to remove said person from the deeds and this could take a couple of months! Unsure how accurate this information is to remove someone from the deeds. Fingers crossed after that, we may be in a position to progress.....