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Should I make an offer with incomplete information?
euanovsky
Posts: 51 Forumite
I viewed a flat recently. I've got most of the basic information (e.g. lease remaining, ground rent, service charge etc). However I don't know if the lease of the apartment has a doubling ground rent clause which may make it difficult for me to obtain a mortgage. The estate agent doesn't have that info and says they will reach out to the seller. It's been a while. Should I make an offer subject to there being no such clauses or should I hold fire till I get the confirmation?
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You can order a copy of the lease from HM Land Registry, by filling in form OC2 and paying the fee of £7 here https://eservices.landregistry.gov.uk/eservices/FindAProperty/view/QuickEnquiryInit.do2
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Any offer you make is not actually binding until you exchange contracts
I am not a cat (But my friend is)1 -
euanovsky said:.... Should I make an offer subject to there being no such clauses or should I hold fire till I get the confirmation?All offers are subject to contract so adding another 'subject to..' is pointess. Make your offer and see if it's accepted. If it is, and the ground rent turns out to be unacceptable to you, you can withdraw.Meanwhile as Tiglet2 says, use OC2. Will take a while tocome but quicker/cheaper than waiting for your solicitor to get the lease.1
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That's why there's a legal process. No one is going to spend hours of their time answering questions if you aren't a committed buyer.1
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Thank you all. It's not a process I'm familiar with so all very helpful!0
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You have no reason to blink! If the EA wanted to flog it they would have been in touch. It wouldn't harm to call them to remind them of your interest (if you are genuinely interested).euanovsky said:I viewed a flat recently. I've got most of the basic information (e.g. lease remaining, ground rent, service charge etc). However I don't know if the lease of the apartment has a doubling ground rent clause which may make it difficult for me to obtain a mortgage. The estate agent doesn't have that info and says they will reach out to the seller. It's been a while. Should I make an offer subject to there being no such clauses or should I hold fire till I get the confirmation?No man is worth crawling on this earth.
So much to read, so little time.0 -
The issue would affect any potential buyer with a mortgage so I wouldn’t worry about progressing with your offer straight away. Perhaps try and find the answer before spending money on searches / legal fees though.0
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What sort of committed seller doesn't have answers to this sort of basic stuff readily to hand?Thrugelmir said:That's why there's a legal process. No one is going to spend hours of their time answering questions if you aren't a committed buyer.0
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