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Queries on a property bought at auction! HELP??

  • 07-08-2012 04:12PM
    #1
    dougal321
    Registered Users, Registered Users 2 Posts: 3 ✭


    Hi i'm new on this site and im hoping someone can help me!

    I bought a HOLIDAY HOME from a receiver a few months ago at auction(so i signed the contract there and then) where a closing date was agreed for July. It has also been agreed that i can move in this coming September. If i missed the closing date there was a high penalty but the receiver asked for the closing date to be delayed to the 10th of July (therefore I am not liable to pay any penalty). I agreed to the change of date though its August so, clearly, still waiting to finalise. My solicitor was still trying to retrieve more information from
    the receiver about the property though they are still not disclosing enough information about the management company or when they expect to close aka sign deeds and what not! So I have come on here to see if any one has any insight into the following questions.......

    1. Can my solicitor impose a penalty on the receiver for not finalising on the agreed date?
    2. Can i still move in on the agreed date ( In September) even though we have not finalised?
    3. If I cant move in in September is the receiver liable to pay for my alternative accommodation?
    4. Is it only on closing (again aka signing the deeds) that I become a member of the management company or is it when I signed the contract at auction?

    P.S I do have a solicitor but things are so slow as it was an auction buy so I am trying to grasp some sense of it myself!


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