owelly
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| posted on 17/6/10 at 09:47 AM |
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House buying laws????
A few months ago, I posted asking for suggestions on how to find the owners of a semi-derelict property. I manged to find enough enthusiasm to use
whatever means to find out the info.
I contacted the executor of the dead womans estate, including the house, and made him an offer. The estate had been left to several charities so he
put my offer to them and it was all overseen by the charities commission. The charities commision insisted on an auction and had three auctioneers
valued the place.
A few months later, the executor (who is also a solicitor) asked if my offer was still on the table. I told him it was. He said that they would accept
my offer as long as I could prove I had the funds available now, I'd take the property and contents as seen and I could complete within four
weeks.
I accepted the conditions, emailed him proof of funds and instructed my solicitor to get moving.
A couple of weeks passed and the other sides solicitor wasn't doing anything. My solicitor kept chasing him, without success, so I rung him.
The charities have now decided to advertise the property locally to see if they can get a better offer!!!
My solicitor has a contract but the other solicitor won't accept it until the advert has had a few weeks to gain interest.
So, having wasted a few grand on rented property, a solictor etc... Where does this leave me? My solicitor says the other side have no obligation to
sell ti me until they accept and sign the contract. Any advise?
TIA......x
http://www.ppcmag.co.uk
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tegwin
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| posted on 17/6/10 at 09:52 AM |
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Unless you had something in writing then you dont have a leg to stand on...
Even with a "normal" house purchase you can pay thousands to the solicitor/searches etc and still be dropped on your head the day before
completion..
I am just going through buying a house... Wont be able to sleep at night until the paperwork has been signed and the purchase can not be
"undone"...
Sounds like the charities are being a right royal PITA....
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Would the last person who leaves the country please switch off the lights and close the door!
www.verticalhorizonsmedia.tv
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fha772
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| posted on 17/6/10 at 10:18 AM |
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Do you want me and a few of the PPC lads* to have a quiet word, with him, in a dark alley?
(* me, TTW, BulletProofBob, and Jaffa-As a lookout, he's tall enough!!)
http://www.ppcmag.co.uk/forum/viewtopic.php?f=47&t=6743&start=105
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nick205
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| posted on 17/6/10 at 10:26 AM |
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You should have just moved in to the house as soon as you saw it - you'd be 9/10ths there already with squatters rights 
As above, not sure you have any grounds to pursue them on at present though.
Have you seen the advert? Do you know what sort of money they're asking or indeed what the auctioneers valued it at.
If you feel it's worth it a slightly higher offer may remove the obstacles.
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balidey
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| posted on 17/6/10 at 10:30 AM |
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Get a few of your mates to view the house and then offer waaaaay under their asking price. After a few they will probably come running to take your
original offer. You may even be able to offer them less.
Dutch bears have terrible skin due to their clogged paws
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scootz
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| posted on 17/6/10 at 10:32 AM |
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Symptomatic of the entire business world now... promises mean nothing!
It's Evolution Baby!
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mcerd1
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| posted on 17/6/10 at 11:24 AM |
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move to scotland - its a little better up here 
[Edited on 17/6/2010 by mcerd1]
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iank
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| posted on 17/6/10 at 11:36 AM |
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quote:
He said that they would accept my offer as long as I could prove I had the funds available now, I'd take the property and contents as
seen and I could complete within four weeks.
Could be taken as a contract but if it were verbal then you'd not have much chance. At best you'd get your solicitors fees back so
probably not worth the hassle and cost of recovery together with the risk of losing more.
Depending on how badly you want it you could drop your offer (by about the amount you feel you're out of pocket) if/when they come back to you
again.
They seem to be acting as if the property market is healthy, but bet the interest in derelict properties is pretty much on the floor at the moment.
--
Never argue with an idiot. They drag you down to their level, then beat you with experience.
Anonymous
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speedyxjs
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| posted on 17/6/10 at 12:04 PM |
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quote:
Originally posted by balidey
Get a few of your mates to view the house and then offer waaaaay under their asking price. After a few they will probably come running to take your
original offer. You may even be able to offer them less.
Id second that.
How long can i resist the temptation to drop a V8 in?
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skinned knuckles
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| posted on 17/6/10 at 12:45 PM |
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i'd let the vendors know that your offer drops be the ammount you have to pay in rent every month as this is an out of pocket expense caused by
their "flip flopping" on a verbal agreement. might speed them up a little. as said, the market for derelict properties is pretty crap as
no lenders are funding them at the mo.
A man isn't complete until he's married, then he's finished
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motorcycle_mayhem
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| posted on 17/6/10 at 12:51 PM |
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Unfortunately, I can't see you have any redress. The only hope you may have is that no other 'interest' is expressed by other
parties. It's a great game, GREED will ensure that your serious offer and wish to proceed is forgotten when less serious and 'more
substantial' offers are made by parties. These later unrealistic prospective dealings upon over valued assets will fall on barren ground.... so
eventually you *may* get the go ahead to purchase, but as the 'market' has 'risen' you'll be told then that 30% above
your current offer is the minimum that is now 'needed'.
I've been clobbered 3 times now, just before exchange the vendor 'needs' another 10% or so...
I rent.
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Ninehigh
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| posted on 18/6/10 at 07:05 AM |
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I could come down, offer way over the asking price and then give them my old number so there's no way of contacting me, so you can then lower
yours and tell them it's bad karma to waste people's time in the name of greed
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OX
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| posted on 18/6/10 at 10:34 AM |
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quote:
Originally posted by iank
quote:
but bet the interest in derelict properties is pretty much on the floor at the moment.
That's all me and my brother look for,,there going to get riped back to just the shell anyway and then its easier to start a fresh , done 2,3
bed roomed houses now ,each cost £10,000 to refurb,boarded and skimmed top to bottom and everything new . Can't find any in the area at the
moment tho that are affordable .
Fingers crossed for you owelly
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owelly
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| posted on 18/6/10 at 01:54 PM |
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Cheers for the replies folks, and for the offer of violence (I'll be in touch Frank....)
I did think of getting a few mates to put silly offers in but it's because of time wasters, the vendors think there'll be more interest in
the place, hence the marketing!!
A chum,who usef to workin a lawyers office, seems to recall that if you have an offer accepted with conditions, than it forms a contract. My lawyer
has had these conditions verified by the other solicitor so it's all on record. My lawyer also recalls something similar but isn't sure
what we would gain out of persuing it. We can't force the other side to sell to us if they have a better offer.
I suppose we'll just have to wait. If we do get the house, you're all invited to the house warming. Bring your own electricity......
http://www.ppcmag.co.uk
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RK
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| posted on 18/6/10 at 05:05 PM |
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Unless you really want it, i may just back out. You really have to have trust in the other side when dealing with large business transactions. There
is always another property, but things can get worse in this case, and it may end up costing a lot more, even if you are 100% correct morally and
legally.
Just remember, every time you talk to a solicitor, it costs you somewhere, even if he is telling you that you're right.
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robinj66
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| posted on 18/6/10 at 08:47 PM |
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Your solicitor should also know that you cannot dispose (buy/sell) land in England & Wales without a written contract. IE, a verbal contract has
no legal weight.
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