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What does a search lodged to protect a pending purchase mean?
eastereggs
Posts: 1 Newbie
I’ve received an alert via the HMRC portal regarding a property I am interested in buying. I have been in discussions with the owner for sometime and I was aware they had another buyer interested. The other buyer had offered to buy the property for cash and do the transaction in one day. The owner told me about this but hadn’t decided. I then received an alert saying application lodged in favour of ‘buyers name’ to protect a pending purchase. Does this mean the property has now been sold? Or is it just the other buyer trying to secure the purchase? Thank you for your responses
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Comments
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The latter. It's a preliminary step done in anticipation of a sale completing in order to protect against adverse things being registered against the title, it doesn't necessarily mean anything has been exchanged or completed. If you want to know what's going on, you'll need to ask the owner.
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