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House purchase

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  • 07-05-2020 10:04pm
    #1
    sohappy
    Registered Users Posts: 665 ✭✭✭


    In the process of buying a house, was given a closing date of 3 weeks ago, 4 weeks ago I signed the contract and transferred the full purchase price minus deposit which was paid to the agent at the time of agreeing to purchase,
    My solictor is saying that the seller is now holding up the sale as they have a bill of over 7k for non-payment of (nppr) and are trying to get this amount reduced,
    I appear to be over a barrel as I have paid in full for the house and cannot get possession of the property ,
    my solicitor has advised that if I decide to pull out of the sale I may lose my deposit,

    My question is is this normal practice?

    Any thoughts you may have would be greatly appreciated


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    #2
    Marcusm
    Registered Users Posts: 10,240 ✭✭✭✭Marcusm


    YOur solicior should still have your funds. Get them to return them to you if you are unhappy with the solicitor holding the funds. Alternatively, ask your solicitor to arrange for completion but hold back the amount of the outstanding/disputed NPPR pending issuance of the relevant clearance.


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    #3
    sohappy
    Registered Users Posts: 665 ✭✭✭sohappy


    Marcusm wrote: »
    YOur solicior should still have your funds. Get them to return them to you if you are unhappy with the solicitor holding the funds. Alternatively, ask your solicitor to arrange for completion but hold back the amount of the outstanding/disputed NPPR pending issuance of the relevant clearance.

    Thanks for the reply I have no problem with my solicitor holding the funds ,
    I should have said earlier that your solution was already put to the other side and they replied by saying they are working on a solution to lower their nppr tax bill,

    I just don't understand how I ended up in the position of signing contracts and now the other side hold the power to leave me in limbo, technically I could be in this position for the next 3 or 4 months,


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    #4
    sydthebeat
    Subscribers Posts: 41,353 ✭✭✭✭sydthebeat


    Who has your money?

    Your solicitor or the vendor?

    Because there's a major difference in the route you should take now depending on the answer


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    #5
    sohappy
    Registered Users Posts: 665 ✭✭✭sohappy


    sydthebeat wrote: »
    Who has your money?

    Your solicitor or the vendor?

    Because there's a major difference in the route you should take now depending on the answer

    My solicitor has the money but the vendors solicitor has the deposit


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    #6
    Victor
    Registered Users Posts: 78,352 ✭✭✭✭Victor


    If this goes on, realise that you may be paying interest on the mortgage.


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    #7
    Claw Hammer
    Registered Users Posts: 6,205 ✭✭✭Claw Hammer


    There are often delays with closing house sales. You can serve a completion notice on the owner giving him 28 days to complete. If he doesn't complete within that time you can pull out and get your money back.


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    #8
    Wildly Boaring
    Registered Users Posts: 3,636 ✭✭✭Wildly Boaring


    When I sold last year I also had a problem with NPPR.

    I got it sorted out prior the sale.

    But
    If I hadn't ourselves and purchaser had an agreement to proceed sale regardless.

    My solicitor gave a solicitors' undertaking to hold the €7200 from the sale to pay the NPPR should it be necessary.

    This is quite common apparently and their solicitor was in agreement.


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    #9
    sohappy
    Registered Users Posts: 665 ✭✭✭sohappy


    Claw Hammer wrote: »
    There are often delays with closing house sales. You can serve a completion notice on the owner giving him 28 days to complete. If he doesn't complete within that time you can pull out and get your money back.

    That would seem to be the perfect answer to the problem but thankfully the situtation has been resolved and we close next week,

    Thank to all,


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