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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Selling land: Buyer pays 95% now balance over five years. Legal situation
aardvark56
Posts: 16 Forumite
I am considering selling my land so the buyer pays 95% now and balance over 5 years. I want some advice please as to how this can be set up legally.
0
Comments
-
You sell 100% on completion, and take a legal charge over the property until such time as the balance is paid? Sounds kind of fiddly though for what is presumably a small amount.2
-
It doesn't seem wise to have agreed to it before taking legal advice.
0 -
Not agreed. I'm asking advice here before approaching solicitor.Mojisola said:It doesn't seem wise to have agreed to it before taking legal advice.
0 -
It would be simpler for buyer to finance the 5%. Or you may as well just right it off and take a chance. If he pays, it's a bonus.1
-
What are you proposing to do if the buyer:_DiesCannot payRuns offLooses their jobRefuses to payand such likeTo me it sounds like a very bad idea.Breast Cancer Now 100 miles October 2022 100/100miles
D- Day 80km June 2024 80/80km (10.06.24 all done)
Diabetic UK 1 million steps July 2024 to complete by end Sept 2024. 1,001,066/ 1,000,000 (20.09.24)
Breast Cancer Now 100 miles 1st May 2025 (18.05.25)
Diabetic UK 1 million steps July 2025 to complete by end Sept 2025. 1,006,489 / 1,000,000 (10.09.25)
Breast Cancer Now 100 miles 1st October 2025 100/100 (12.10.25 all done)
Tommy 10,000 steps challenge. 1st Nov 25 for 30 days .Sun, Sea1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards