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.
What is a corporate sale?

HariLoss
Posts: 11 Forumite
Hi, I am considering an offer on a house and have been told by the agent that "The property is being sold via a corporate company. With a corporate sale we get instructed to sell the property on a ‘sold as seen’ basis, we have no background information or any history of the property nor do the corporate company who instructed us, as they in turn will have been handed the property to sell under similar circumstances. The property would also remain on the market until contracts were exchanged."
The house is only a 3 bed Victorian terrace in a working class area so am surprised that it is a corporate sale. I have not come across this before, is there anything I need to be cautious of in this situation?
Thanks
The house is only a 3 bed Victorian terrace in a working class area so am surprised that it is a corporate sale. I have not come across this before, is there anything I need to be cautious of in this situation?
Thanks
0
Comments
-
Could be all sorts. Might be:
a reposession (corporate company selling on behalf of bank)
a house swap (corporate company selling on behalf of new build house developers who have already bought it off the owners)
an assisted sale (vendors have reserved a new build and corporate company help the builders offload their old house)
Given the wording and staying on the market my money is on it being a repossessed property0 -
Thanks Deleted_User,
I have found on Google a search result on the address that points to a property repossession site though the page could not be found when I clicked the link, so it looks like a re-posession.
However, when I search the land registry database it tells me "Sorry, we do not have a record of any titles for this property. This does not necessarily mean that the property is unregistered."
Do you know if that is unusual?0 -
Could be unregistered.
Could be an error in the address - either by you or the land registry
Try doing a 'map enquiry' of the immediate area.
But whatever, this willall be dealt with by a decent conveyancer in due course. What you need to decide is whether you are happy to proceed, knowing that
* you will get limited knowledge of the property prior to buying (other than confirmation of ownership)
* you may be gazumped right up to date you Exchange Contracts - so quicker you get there the better.0 -
Possibly a property that has been part exchanged against a new build.0
-
However, when I search the land registry database it tells me "Sorry, we do not have a record of any titles for this property. This does not necessarily mean that the property is unregistered."
Do you know if that is unusual?0 -
Thanks G_M, the gazumping is a worry unless I can find a no sale no fee solicitor but if the vendor will not take the property of the market I doubt a solicitor will offer a no fee agreement. Similar problem with house buyers insurance I suspect.
If it looks to good to be true.....0 -
Much to my surprise, being a Saturday, the Land Registry replied to an email sent this morning: "The property is an unregistered property which means that the deeds and documents in connection with the property have never been lodged at HMLR for us to create a registration for the property."0
-
Thanks Slithery, will bear that in mind.0
-
Check planning and building regs portal.
Is it empty how long?0 -
Thanks G_M, the gazumping is a worry unless I can find a no sale no fee solicitor but if the vendor will not take the property of the market I doubt a solicitor will offer a no fee agreement. Similar problem with house buyers insurance I suspect.
If it looks to good to be true.....
Never met a solicitor who has conditions like that attached to the no sale no fee. Its usually either they offer it, or they dont.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.4K Banking & Borrowing
- 252.9K Reduce Debt & Boost Income
- 453.3K Spending & Discounts
- 243.4K Work, Benefits & Business
- 597.9K Mortgages, Homes & Bills
- 176.6K Life & Family
- 256.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards