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Sellers Got a Unilateral Notice on Property!

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  • oldMcDonald
    oldMcDonald Posts: 1,945 Forumite
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    ts_aly2000 wrote: »
    Well if anything has come out of this, it's being able to rub your hands together while looking at how the other half live.

    A SIGNIFICANT number of these people out there who appear to be loaded, are up to their eyeballs in debt. In contrast I live moderately, I don't owe any money, I have one CC, I have money in the bank, and nothing other than green 0's on my CRF.

    It makes me miserable wishing that I could afford all of these gizmos and new cars that people have. The reality being that they can't afford them either!!! :) They're all up to their eyeballs in debt.

    Don't worry OP. You have your sanity and your solvency. Which you will always have. And that is a great comfort.

    Whats the saying? You can see what a person owns, but not what they owe.

    OP, I hope it gets sorted out for you soon. As Silvercar cays, I think that you are probably in a good position to buy if it is repossesed - surely the lender would want their money back ASAP.

    Good Luck
  • Millionaire
    Millionaire Posts: 3,748 Forumite
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    Just to update.

    I have decided to pull out of the purchase, instead of hanging around to see if the vendors manages to come to some kind of agreement with their creditors.

    Think I'll wait now and see which way the house prices go over the next week months.

    Thanks to everyone that offered their advice.
  • space_rider
    space_rider Posts: 1,741 Forumite
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    I bought a house with a charge on it. I got it for over £40,000 less than they bought it for 2 years ago. The solicitor did tell me about it quite early on but said nothing to worry about and it would be discharged as soon as the funds were transferred.

    I would keep an eye out though to see if it does get repossed, at least you`ve already had the searches done and if its not too long ago you could still use them.

    I did initally go for a repossessed house but I couldnt buy it quick enough due to my buyer messing me about. The house went for £10,000 less than I was going to buy it for.

    In any event you may find that withdrawing from the sale could be a blessing in disguise.
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