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Legal charge on house purchase not declared
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No solicitor0
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This is not an issue with your solicitor, it is an issue with the seller's solicitor. They should have checked early on that the seller was aware of the charge on the property and able to repay this on completion. I am assuming that the issue is that the seller did not realise this and now can't afford to proceed?0
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Why didn't you yourself get copies of deeds online - takes only 5 minutes, was £3, now £7?? When I was buying property (now 77, winding down now..) over the years I'd do that before even engaging solicitors. Knowing what land registry says on charges and plan can be most illuminating for merely small-change.kinger101 said:The vendor is required to tell you if you ask. Not sure the EA would be required to disclose where they're aware as it's not really a material fact.
Why couldn't the purchase proceed?
It just means there's debt secured against the property. Presumably the owner of that debt is keen for a sale.1 -
Like I said originally, the fact there's a charge isn't interesting or problematic. The problem is that the seller (apparently) can't afford to discharge it, which isn't something you can find out by looking at the registers.theartfullodger said:
Knowing what land registry says on charges and plan can be most illuminating for merely small-change.kinger101 said:The vendor is required to tell you if you ask. Not sure the EA would be required to disclose where they're aware as it's not really a material fact.
Why couldn't the purchase proceed?
It just means there's debt secured against the property. Presumably the owner of that debt is keen for a sale.0 -
I wonder if this was actually a local land charge which wouldn't necessarily show on the LR. A relative managed to sell their mother's house without discharging a council debt that accrued when the council installed adaptations to the house. It wasn't picked up by anyone until after the sale the council came asking why the disabled facilities grant hadn't been paid back. The relative did pay it and assist in the discharge of the LLC but the new owners could have been left in a sticky situation if they had refused.0
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