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Closing date on repossession sale

  • 26-09-2018 6:37pm
    #1
    Aimsha11
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi I'm wondering if anyone has had a similar situation when buying a house that was repossessed. My fiance and I made an offer on a repossed house in april, we eventually went sale agreed on the property at the end of June. We had to wait 8 weeks for the bank to formally except our offer but eventually we got there .
    We then signed contracts at the end of July which were sent back to the vendor . The contracts stated the closing date would be 15th of August and here we are at the end of September still waiting to get the contracts back from the vendor. We have hounded our solicitor and the only response we get is "we expect them in the coming days" We are so fed up waiting and wondering if we pulled out could we lose our deposit or if anyone has any advice on how to move things along ?


Comments

  • #2
    th283
    Registered Users, Registered Users 2 Posts: 286 ✭✭th283


    Aimsha11 wrote: »
    Hi I'm wondering if anyone has had a similar situation when buying a house that was repossessed. My fiance and I made an offer on a repossed house in april, we eventually went sale agreed on the property at the end of June. We had to wait 8 weeks for the bank to formally except our offer but eventually we got there .
    We then signed contracts at the end of July which were sent back to the vendor . The contracts stated the closing date would be 15th of August and here we are at the end of September still waiting to get the contracts back from the vendor. We have hounded our solicitor and the only response we get is "we expect them in the coming days" We are so fed up waiting and wondering if we pulled out could we lose our deposit or if anyone has any advice on how to move things along ?
    I was in a similar situation, went sale agreed in early December last year but only got the keys mid July, I totally understand how fed up and frustrated you must be. As far as I know as long as the vendor hasn’t signed the contract you can get your deposit back. If they have signed the contracts the only way I could find to pull out of the was to ask the solicitor to issue an order of completion, which means they have 28 days to complete the sale or you can pull out without penalty. With the seller I was dealing with house sales had to be signed off by their board which only met once a month and if they ran out of time, the contacts would roll over to the following months meeting. My advice would be hound the estate agent rather than your solicitor, the estate agent will have more direct contact with seller


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