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Surrendering of home

  • 30-08-2012 1:13pm
    #1
    al-pal
    Registered Users Posts: 70 ✭✭


    Hi there,

    I hope I am in the right place.

    Currently in the process of surrendering a house to the bank, breakdown of relationship with co signer or mortgage and inability to continue making repayments is the reason.

    A lot of the things put into the house at the time of build were paid for by either myself, family or previous partner. Kitchen, roll top bath, walk in wardrobes amongst others.
    I would class these as personal property as they were not paid for with Mortgage, purely used for land and the build and plaster on walls etc.

    is there limitations on what i can remove prior to surrendering the house.

    Not trying to pull a fast one. we have had 3 attempts to sell the house blocked by the bank due to sale value approx 20k under mortgage amount.

    Hope someone can assist.

    thanks for reading


Comments

  • #2
    ResearchWill
    Closed Accounts Posts: 4,111 ✭✭✭ResearchWill


    If you take any advice from anyone on a Internet forum in relation to your question you could get in to the height of trouble.

    Talk to a solicitor.

    Also just as an aside, removing stuff will further devalue the house, and therefore leave a larger deficit.


  • #3
    Procrastastudy
    Closed Accounts Posts: 6,224 ✭✭✭Procrastastudy


    +1 there are all sorts of convoluted rules about how something attached to the property becomes part of it. I know about 0.00000001% of what I'd need to know to give you any sort of advice so just here to echo the comment of go to a solicitor or google FLAC if you're really stuck in regards money.

    Good Luck OP.


  • #4
    al-pal
    Registered Users Posts: 70 ✭✭al-pal


    Hey Procrastastudy and ResearchWill.

    Thanks for that, will have to try and go to a solicitor about it. I know it will lower value, but the cost of what was put in from my own pocket, isnt reflected in the value re offers. and the bank will probably sell for less.. Thanks for the advise guys.


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