House Purchase Problem - Contracts Signed

tommyh1977

Hi, already posted in property about a month ago re a property we were running late on closing purchase, however things have taken a very unusual turn and I now feel its more legal than anything else. Apologies Mods if breaking rules.

Basically we have exchanged contracts on the purchase of a court order receiver sale of an investment property which went wrong for a developer. This is one of many properties which were taken posession of under the order. We are in funds, albeit 3 weeks after contracts date of closure. The 3 week delay was a result of a clerical error and the receiver didn't push us hard once we promised to have money this week, which we have. However on the same day as coming into funds we find out through the auctioneer that he was contacted by the receivers solicitor to inform him that the original developers wife is now contesting the court order and seeking an injunction on sales of any properties. He also informed the auctioneer this could delay the closing of our house by months. My solicitor is as dismayed at this as we are, I mean we are hours away from completing sale, however he has heard nothing from the receivers solicitor. Any ideas or opinions? Are we likely to be at a substantial loss if receiver pulls the pin? Can he pull the pin?

Reloc8

This may sound harsh and obvious but you're going to get much more reliable advice from your instructed solicitor that you are on this internet website.

Hope it works out ok for you.

tommyh1977

Nothing at all harsh about it, i'd like to think I would have the common sense to take my solicitors advice over an internet forum.;);)

godtabh

tommyh1977 wrote: »

Nothing at all harsh about it, i'd like to think I would have the common sense to take my solicitors advice over an internet forum.;);)

Then close this thread and speak to him

tommyh1977

godtabh wrote: »

Then close this thread and speak to him

Thread Closed