Missing title deeds

Farranm

I've recently gone sale agreed on house that's being sold by a bank.

There are some title deeds missing , ie The planning permission, The certificate of compliance and a few other documents.

My solicitor is the solicitor for the Building company who built the development approx 20 years ago. She has copies of the missing documents.

My question is will these copies be accepted for mortgage purposes

L1011

If your solicitor has the docs to the same standard as another property, there shouldn't be any issue.

However, in bank sales, there's lots of other issues with title that may be more complicated - is the bank registered as the clear owner, mainly?

Farranm

Yes the bank is the registered owner.

L1011

If your solicitor is advising that its all good, you have little choice but to trust them - particularly as it sounds like another solicitor may not have the docs. Don't spend any significant sums until you get full and final approval (preferably don't spend any significant sums til you have the keys!)

asdfg87

Have you paid and got a receipt for 10% of the full purchase price?

Farranm

I have full mortgage approval from The credit union. Their solicitor has sent documents back to local branch saying that the decision is up to them , which I am taking as a good sign.

I am only borrowing a small amount from them . I have the valuation done and an independent engineers inspection.

My solicitor has explained the situation to them, saying she is the one who made the 1st copy of the deeds and she will stand by them.

I am willing to have the deeds reconstituted if needed but I'd rather not be under pressure to do so

L1011

Deed reconstitution refers to when there is no registered title and no old fashioned deeds - in this case where the bank has actual title that wouldn't apply. The title is registered, the other docs are not actually part of the traditional deeds

You may have got the bargain of the year if you create a more easily mortgageable title for someone else here; as a bank sale with any missing docs should be priced to reflect that.

Irrelevant now that you have them; but planning docs being missing is usually just a relatively cheap fix (the docs will be available from the council unless lost); compliance cert can be a lot more problematic particular on a very new property.

Farranm

No only 5k booking deposit paid so far

Farranm

Property is over 20 years old . Development of 50 houses

asdfg87

https://www.boards.ie/discussion/comment/119421356#Comment_119421356

Just let your solicitor handle it as booking deposit means nothing, AFAIK if we pay and have receipt for 10% it is a contract regardless.

Stick with it and hopefully be ok. Your very lucky your solicitor knows history as big advantage.

Dav010

https://www.boards.ie/discussion/comment/119421459#Comment_119421459

Where did you read that?

A booking deposit is refundable, even if it is 10%. The contract of sale does not exist until the buyer signs it.

Claw Hammer

https://www.boards.ie/discussion/comment/119421459#Comment_119421459

Rubbish, there is no contract until the vendor signs.

Farranm

• Spoke with the Credit union today . Their solicitor has given the green light ( Being as he knows my solicitors personally) and has said he is happy with copies of the document and has sent the papers back to the Credit union, meeting is Tomorrow to decide my faith but I think it's looking positive for me

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asdfg87

https://www.boards.ie/discussion/comment/119424430#Comment_119424430

I am pretty confident that if a buyer gives an Estate 10% of the agreed purchase price paid and receipted, this is a contract.

You check it out, it happened to me and i was the buyer, it may be the law changed but i think i would have heard.

Anything bought at on-line auction is contracted immediately on the basis of the deposit laid down by the rules of the online auction house even though the deposit less than 10% of market value...

The agent is working for the vendor so if they accept and receipt deposit thje deal is done...

Dav010

https://www.boards.ie/discussion/comment/119425751#Comment_119425751

Please stop, this is rubbish.

Booking deposits are refundable until written contracts are signed.

Auction sales differ greatly from private treaty sales, look them up.

L1011

https://www.boards.ie/discussion/comment/119425751#Comment_119425751

Only an actual signed contract is a contract. Whatever you have in your head here is wildly wrong.

What happens in an auction has nothing to do with this.

asdfg87

https://www.boards.ie/discussion/comment/119425803#Comment_119425803

Ok if if i go to an estate agent and i am asked say €250k for a property the agent cannot sell if i say i am happy to pay this amount?

What agent would work like this?

Dav010

https://www.boards.ie/discussion/comment/119425838#Comment_119425838

All agents, because it is not their property to sell.

You are perhaps confusing consumer law where contracts can be verbal or written and deposits form part of the payment, with property law where contracts must be written. A booking deposit is fully refundable, whether it is €2 or €200k until the contract of sale is signed. You might also be thinking of the contract deposit, which is typically 10% and handed over when the contracts are signed, the op has confirmed that only a booking deposit has been paid.

asdfg87

Abooking deposit used to be 5k, likely more now, basically an expression of interest and refundable.

10% paid is binding unless the rules changed...

Dav010

Rinse and repeat.

asdfg87

https://www.boards.ie/discussion/comment/119425853#Comment_119425853

So you are basicallhy saying agents cannot sell properthy on behalf of a client, it seems like an unprofessional business if they cannot sell a property... What is their purpose?

If the agent accepts 10% deposit that is a contract... check it out?

asdfg87

https://www.boards.ie/discussion/comment/119425880#Comment_119425880

Its taking you a while . i expect your doing HIGHLIGHTS?

L1011

https://www.boards.ie/discussion/comment/119425874#Comment_119425874

It isn't binding unless contracts are signed. You're wrong (go - "check it out" as you suggest to others. The signing of the contracts is what makes them binding, not some magic financial %), and you're bringing this thread ridiculously off topic.

Do not post in this thread again. Do not reply to this post.

Marcusm

Too many inspecifities here; a contract may generally be oral or written or evidenced by conduct. However, a contract for the sale if an estate or interest in land must be in writing and, so far as Ireland is concerned, that has been the case since the feast day of St John the Baptist in 1696 as determined by the Statute of Frauds 1695 ( yea, 1695 not 1965).

an estate agent is not embued with such agency to form a contract for the sale of property in any event such that even if one took a 100% deposit no one would be bound to complete the sale.

Farranm

Just to get back to the original post. I received news today that the copy deeds will be accepted. I sign contract and pay 10% early next week, which according to my solicitor is then legally binding.

Thans for the advice