Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Buyer wants our Mortgage Redemption figures...is this right?

  • 17-07-2015 5:26pm
    #1
    PigeonPie
    Registered Users Posts: 83 ✭✭


    Hi all,

    In process of selling our house. Just at the stage of finalising contracts. The buyers solicitor has just requested that they need to know how much we have left to pay off our mortgage. Just seems a bit of an unusual request. Why would they need this? I am reluctant to give them such information as I feel it's none of their business. Is it right that they are asking for this? Surely what size of a mortgage we have, if any at all is nothing to do with them?

    tia
    PP


Comments

  • #2
    Sleepy
    Registered Users Posts: 24,140 ✭✭✭✭Sleepy


    Looking to ensure you're not in a position of negative equity where the bank will turn around and delay/prevent the sale?

    If you could confirm this with them it should just be a matter of getting your bank to issue a letter stating that this isn't the case.


  • #3
    PigeonPie
    Registered Users Posts: 83 ✭✭PigeonPie


    Thanks Sleepy, So a letter confirming we're not in negative equity would suffice then I suppose?

    They're being so nit-picky about the strangest of things, thought this was another one of their strange requests. ;-) Taking forever to close the sale.


  • #4
    Taxburden carrier
    Registered Users Posts: 551 ✭✭✭Taxburden carrier


    None of their business.


  • #5
    wowy
    Registered Users Posts: 709 ✭✭✭wowy


    Maybe they're trying to pull a fast one on you and see how much you'll have left once the mortgage is paid, so that they'll then try to reduce their offer just before contract?


  • #6
    PigeonPie
    Registered Users Posts: 83 ✭✭PigeonPie


    Taxburden carrier wrote: »
    None of their business.

    Thought so myself


  • Advertisement
  • #7
    PigeonPie
    Registered Users Posts: 83 ✭✭PigeonPie


    wowy wrote: »
    Maybe they're trying to pull a fast one on you and see how much you'll have left once the mortgage is paid, so that they'll then try to reduce their offer just before contract?

    God I hope not. I know they want to be in asap but they're looking for so many niggly little things that's delaying everything. Going on so long now. Just want to be at the other end of it. :(


  • #8
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    wowy wrote: »
    Maybe they're trying to pull a fast one on you and see how much you'll have left once the mortgage is paid, so that they'll then try to reduce their offer just before contract?

    I doubt it. I thought MR figure was a fairly standard request.


  • #9
    TheDriver
    Registered Users Posts: 12,386 ✭✭✭✭TheDriver


    Fairly standard question to make sure its not a stumbling block. Your solicitor confirms to theirs that it will be cleared with funds from sale usually suffices.


  • #10
    [Deleted User]
    Posts: 0 ✭[Deleted User]


    Standard request. Buyer wants to know that all loans on the property will be cleared. I'm surprised that your solicitor got back to you on this. The exact amount should not matter.


Advertisement