What issues to expect if buying house from a conman?

gaillimheach

So here's the story:

Friend of mine wants to buy a house. There is one snag: the person who owns the house is a conman, although not a violent or agressive one.

The friend has set his heart on buying this house, but first wants to know what kinds of stunts the vendor might pull during the sale of the house.

Are there any particular clauses he should insert in the sales contract? Any sort of inspections that should be done on the day the key is handed over? Is there any way of withholding the money from the vendor until such a time as the key has been received and all is in order in the house without fixtures and fittings being pulled out?

Anything in particular to watch out for in relation to title deeds, etc?

old_aussie

Usually conmen don't actually own what their selling, otherwise the would be a genuine seller.

alie

We were interested in a house a few years ago, it was a private sale, our offer was accepted but when our solicitor tried to start the legal side of things, she found that there was no 14 day cooling off period, this allows the buyer to back out if any problems are found with the house, she said we were better off pulling out before the legalities started.

silja

Take photos at the viewing and make sure the contract says that everything that was in the house at the viewing is included, otherwise your friend might find the pretty fireplace and the cast iron bath are gone.

Seller might delay sale because he cannot move, but if he got some more money, he could move quicker....

A second potential buyer might crop up, who is bidding more.

Make sure the land boundaries are what the seller says they are, especialy if there are no clear fences.

PCPhoto

how do you know the seller is a conman ? ...does he have convictions or is it just local stories of him getting good deals at someone elses expense ?

Do you personally know of anyone that he has conned ?

he could simply be "A cute hoor" ...as they say in rural parts of Ireland and if this is the case - have the solicitor look over every aspect of the documents, if he/she points out something which they thing is suspicious ...be prepared to take their advice.

take your (friends) time with the sale ...no need to rush into purchase straight away, the general public are not purchasing at the moment so prices are still dropping, if you give it a month, 3months, even 6 months...tell your friend to go off and think about it....if the other side are pushing for a quick sale...there is usually a reason behind it !!

Bigcheeze

alie wrote: »

We were interested in a house a few years ago, it was a private sale, our offer was accepted but when our solicitor tried to start the legal side of things, she found that there was no 14 day cooling off period, this allows the buyer to back out if any problems are found with the house, she said we were better off pulling out before the legalities started.

Wha?

There's no cooling off period in house sales. Do you think people can move in for 2 weeks and then decide to back out ?

the_syco

Conman, eh? Check if it's the house you are buying, and not a house with the same number on it a few doors down...

alie

Bigcheeze wrote: »

alie wrote: »

We were interested in a house a few years ago, it was a private sale, our offer was accepted but when our solicitor tried to start the legal side of things, she found that there was no 14 day cooling off period, this allows the buyer to back out if any problems are found with the house, she said we were better off pulling out before the legalities started.

Wha?

There's no cooling off period in house sales. Do you think people can move in for 2 weeks and then decide to back out ?

You don't move in , its before all that,

John Mason

alie wrote: »

We were interested in a house a few years ago, it was a private sale, our offer was accepted but when our solicitor tried to start the legal side of things, she found that there was no 14 day cooling off period, this allows the buyer to back out if any problems are found with the house, she said we were better off pulling out before the legalities started.

LOL, you are a tad confused there - i think you mean subject to the Contract/Contract Denied

alie

It's before contracts are signed ,

alie

irishbird wrote: »

alie wrote: »

We were interested in a house a few years ago, it was a private sale, our offer was accepted but when our solicitor tried to start the legal side of things, she found that there was no 14 day cooling off period, this allows the buyer to back out if any problems are found with the house, she said we were better off pulling out before the legalities started.

LOL, you are a tad confused there - i think you mean subject to the Contract/Contract Denied

I am not confused at all, it happened before contracts were signed, you normally have a 10 to 14 days to back out. We bought our house 14 years ago as cash buyers. Looked at loads of houses , you get very knowledgeable after viewing so many houses,

antoinolachtnai

Tell your solicitor your concerns. You could put your concerns in writing if you wanted. It is his job to make sure nothing really bad happens. You will also have to take sensible precautions as detailed above. Ask the solicitor if it's possible to carry out a final inspection on the morning of the closing day.

Change the locks when you move in. (I didn't do this, and had a bit of messing around as a consequence, but it just wasn't worth following up on).