will we loose the house?

Shivivryan

so basically 7 months ago we put a deposit on our dream house..the couple selling had split up and the bank had gotten involved.so everthing was going ahead until about a month ago and we heard that there was boundary issues with the neighbour next door where a bit of the garage was built on his land. he is related to the man that is selling the house also, but he doesn't seem to want to resolve the issue. we are thinking now that the man doesn't really want to sell the house at all and is getting his uncle to dispute the boundary. could he be trying to get us to pull out so that he can get it again himself? also we have about 2 k spent on solicitor fees/engineers/valuation will we have to pay these? just feel we are being totally duped

Calahonda52

First up, the house is not yours to loose so title is misleading as it suggests foreclosure:(

All the rest is idle speculation, your lender, if you are borrowing will require clean title. I suspect your lawyer will require some payment, I wonder how you got to 2k: is that based on assuming deal closes.
Who found the boundary problem?

BryanF

Tell them you willWalk away unless this is resolved. Give them a deadline. Be prepared to walk away. This is a business transaction. its though but that's it.

Shivivryan

is there any way i can let the bank know what he is doing? very unfair that sellers can do this

freshpopcorn

I can't really offer you much advice. Your actually very lucky your finding out about this boundary issue now. To me it sounds like a messy situation.

SEPT 23 1989

You want to live next door to that?

Walk away

BryanF

Shivivryan wrote: »

is there any way i can let the bank know what he is doing? very unfair that sellers can do this

Good night

Sleeper12

Shivivryan wrote:

is there any way i can let the bank know what he is doing? very unfair that sellers can do this

What are they doing that is wrong?
Even if the neighbours were happy with things the way they are the banks surveyor would pick up on the issue and the bank wouldn't loan.

Shivivryan

he put the house up for sale just to please the banks..if he couldn't afford the mortgage he should loose his house..if the boundary issues were sorted out legally of course the bank would loan to us

Spanish Eyes

LOSE. not loose. Please, forever more. Thanks.

But I agree, walk away, sounds like a nightmare. There will be more dream properties out there without that sh!t really.

But it's up to you.

listermint

This is quite literally a no win situation.

Never I repeat never put yourself in between a fighting couple negative equity and as bank .

It's your furniture money your deposit and your solicitor fees your are pouring down the drain

nhunter100

How can you lose a house that is not yours?

liam7831

How do you know so much about the unfortunate couples personal situation? I dont blame the guy if he is trying to save his house.

Sleeper12

Shivivryan wrote:

he put the house up for sale just to please the banks..if he couldn't afford the mortgage he should loose his house..if the boundary issues were sorted out legally of course the bank would loan to us

But they are not sorted. There's only 2 ways to sort boundary issue like this afaik. One is demolish the illegal building that is on the neighbours land and the other is for the neighbours to sell that portion of land. Selling the land is messy and costs thousands. It has to go through the land registry etc. I don't believe there is a quick fix here. I think that you might be seeing a conspiracy that isn't there. I don't mean offense and I'm saying this only based on a few sentences I've read.

freshpopcorn

I'd bare in mind the house might be lovely but you might be moving in next to this man's family and a dream home is a lot more than a building.

Spanish Eyes

nhunter100 wrote: »

How can you lose a house that is not yours?

OMG you said LOSE. For that I love ya!