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Problem Closing Part 2

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  • 17-04-2007 3:16pm
    #1
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,205 Mod ✭✭✭✭


    Found out that I couldn't close on my apartment because the builder hand paid his contributions to the local authority.

    Is this common?

    80% of the development is occupied all ready?

    Any one have this happen to them before?


Comments

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    #2
    De Deraco
    Registered Users Posts: 441 ✭✭De Deraco


    this is a very common problem these days.

    who exatly is refusing to close? i.e. the bank/your solicitor/ or seller.


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    #3
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,205 Mod ✭✭✭✭godtabh


    De Deraco wrote:
    this is a very common problem these days.

    who exatly is refusing to close? i.e. the bank/your solicitor/ or seller.


    Seller cant close as he hasnt paid is contributions to the county council.


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    #4
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    If YOU can pull out of it at all do it


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    #5
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,205 Mod ✭✭✭✭godtabh


    Deleted User wrote:
    If YOU can pull out of it at all do it


    Why?

    That would be a fairly big decision to make with out anything to back it up


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    #6
    De Deraco
    Registered Users Posts: 441 ✭✭De Deraco


    Deleted User wrote:
    If YOU can pull out of it at all do it


    Thats crazy talk. the only thing wrong with the property is that it doesnt have a certificate of copliance with planning permission. not because the building is shody simply because the council haven't got there money yet.

    it is not really "good marketable title". however sometimes the council wait to issue it till after a development is finished or the developer can't pay them off till he has sold all the houses.

    Try to get the seller to give you a"best endevours letter" and that should satisfy your solicitor and the bank should except the quilifacation on title.

    and find out how the other people on the development got their sales closed.


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    #7
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,205 Mod ✭✭✭✭godtabh


    De Deraco wrote:

    Try to get the seller to give you a"best endevours letter" and that should satisfy your solicitor and the bank should except the quilifacation on title.


    My solicitor is trying to get a letter of intent as he called it so that I could close. I'm just wonderig is this a smoke screen though if 80% of the rest of the development has people living in it.

    I'm also worried that it took 8 weeks for them to tell us this is why its taking so long to close.


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    #8
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,205 Mod ✭✭✭✭godtabh


    This keeps getting better and better.

    Got mortgage payment taken out of my account again. I rang the bank who said the money hadn't been returned.

    I rang my solicitor who said the money had been returned.

    So now that we are ready to close the money has gone missing.


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