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Buying at auction

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  • 06-12-2014 1:40pm
    #1
    Jjax8
    Registered Users Posts: 6 ✭


    Hi Guys

    I know the title would suggest I should run a mile. But I am speculating without exact knowledge. Maybe someone could have a look and give an opinion. I intend seeking legal advice anyway.

    I am looking at this property up for auction to make my family home. cant post url its allsops lot 249 december 2014

    Basically I have a partner and children and currently rent. Good friend with cash has asked me to take a look at it with a view to him loaning me the money to buy it and fix it up. Further down the line the idea would be that I would mortgage it and repay them.

    However looking at the folios for this house it appears the gable end and the shed is on an unregistered piece of land that is not included in the sale. How very strange, and yet planning and retention were passed. There are a no of legal docs etc pon the allsops site that seem to suggest that the previous owner maintained some kind of squatters right to the strip of land.

    But if i went ahead and bought it, wouldnt it be impossible to mortgage in the future?

    I know the initial reaction is to run a mile...but perhaps it is more clear cut than i think? Otherwise how was it sold previously and planning obtained and retention received?

    Very curious


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