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Rights When Buying a House From a Receiver
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15-07-2014 9:01am#1Hi,
We recently viewed a house which turned out to be a house that a bank has taken over and is being sold by a Receiver through an Estate Agent. When we went to view the house it turned out there is no running water or electricity. We then asked could we get it turned on so as to check it's condition and were subsequently told that this cannot be done.
What are our rights in this case? As in can we pay the council to turn on the water (not too worried about the electricity) for an hour or so? The Estate Agent doesn't think so. We would like to turn it on and get a surveyor in prior to making another offer - the Estate agent has told us that with properties in receivership you buy as is.0
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I'm not too sure why the council would be involved. They wont cut off anyones water.
Surely the water is just turned off at the stop cock outside the house (or possibly, it could be in the house).0 -
You might indeed buy as is but your surveyor will still want to check them,out. Its not an auction, if he wants to sell he can make sure all is in,order0
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I'm not too sure why the council would be involved. They wont cut off anyones water.
Surely the water is just turned off at the stop cock outside the house (or possibly, it could be in the house).
No, you need the Council, or Irish Water now to turn on the water. I wouldn't think they would do so without the consent of the owner (and there is a cost to do so). Im afraid the EA is right, most receivership properties are bought as is, take it or leave it. However the house cost should reflect this.0 -
By the sounds of that, you would want to make sure you get a good surveyor/engineer at that.
Receivership sales are generally sold "as is" but that would read we are not doing any tidying up, painting, repairs to make the house look nice and presentable. If your surveyor finds any faults, the receiver won't help you out or sort it before you buy.
Would a house not have to be unoccupied for a good while to have electricity and water cut off?0 -
was in the same situation very recently.
- water was turned off at the stop cock under the sink.
- electricity turned off at fuse board.
- gas turned off at meter.
so in theory you, or your surveyor, could switch them back on to test (if your situation is the same as mine!)0 -
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I'm not too sure why the council would be involved. They wont cut off anyones water.
Surely the water is just turned off at the stop cock outside the house (or possibly, it could be in the house).
The house has been unoccupied for over a year.No, you need the Council, or Irish Water now to turn on the water. I wouldn't think they would do so without the consent of the owner (and there is a cost to do so). Im afraid the EA is right, most receivership properties are bought as is, take it or leave it. However the house cost should reflect this.
Was thinking that as the receiver would not pay for turning it back on.Sunny Dayz wrote: »By the sounds of that, you would want to make sure you get a good surveyor/engineer at that.
Receivership sales are generally sold "as is" but that would read we are not doing any tidying up, painting, repairs to make the house look nice and presentable. If your surveyor finds any faults, the receiver won't help you out or sort it before you buy.
Would a house not have to be unoccupied for a good while to have electricity and water cut off?
Unoccupied for over a year. Ye we would be getting a surveyor in regardless.was in the same situation very recently.
- water was turned off at the stop cock under the sink.
- electricity turned off at fuse board.
- gas turned off at meter.
so in theory you, or your surveyor, could switch them back on to test (if your situation is the same as mine!)
Not sure how the Estate Agent would feel about that but I might get a plumber friend of mine to check it out if the Agent would allow it.0 -
The services are turned off for a reason - to reduce the risks of flooding and fire. This is likely a condition of the insurance on the property.
Unless you plan on waiting until the water system fills with about 1,000 litres of water and then drains again over several hours, I imagine the owner and agent won't be impressed. If you do this without permission and there is a leak, you will have committed a fairly serious trespass.so in theory you, or your surveyor, could switch them back on to test (if your situation is the same as mine!)0 -
I enquired from a solicitor recently about how can you be sure , that you are getting good title in a receiver sale ,particularly where the previous names on the land registry documents won't sign anything.
and his answer was that he knows of a case where 4 months after purchase and into a refurb , the purchaser of this property was informed by a neighbour that he ( the neighbour) was in fact the owner and it is now going the long legal road with the receiver gone out of the picture with the money , so be warned, particularly if the receiver is appointed acrimoniously, the old owner might turn up or send in a heavy , afterwards.
Buyer beware.0 -
I had the same situation. Water was just turned off at the stop cock and the main fuse was taken out of the fuse board.
We just turned on the water and waited half an hour and then turned on a few taps to check for leaks. We "acquired" a mains fuse to turn on the electricity for 5 minutes to check everything out as well.
I was dealing with an understanding EA who had to oddly pop back to the office for an hour while I checked the house out though!
My house was unoccupied for close to 7 months and there is no way I would have gone ahead without being able to check those things out.0 -
I had the same situation. Water was just turned off at the stop cock and the main fuse was taken out of the fuse board.
We just turned on the water and waited half an hour and then turned on a few taps to check for leaks. We "acquired" a mains fuse to turn on the electricity for 5 minutes to check everything out as well.
I was dealing with an understanding EA who had to oddly pop back to the office for an hour while I checked the house out though!
My house was unoccupied for close to 7 months and there is no way I would have gone ahead without being able to check those things out.
This.
I'd be highly surprised if Irish Water had gotten around to "cutting" water supplies off to units when they're busy metering.
One thing to keep in mind is if the power has been disconnect for a certain period of time, you'll be looking at a decent fee to have it reconnected0 -
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We bought our house without checking any of that. We were lucky I guess. It was unoccupied for 2+ years.
Took a few weeks to get the electricity turned on, which was a pain as we were living in it.0 -
Surely, if the conveyancing solicitor has done their job competently, then this won't arise? If it does, I guess in theory you can sue the solicitor ( I say in theory - as the deck is stacked against you in taking on a sol. in IRL).I enquired from a solicitor recently about how can you be sure , that you are getting good title in a receiver sale ,particularly where the previous names on the land registry documents won't sign anything.
and his answer was that he knows of a case where 4 months after purchase and into a refurb , the purchaser of this property was informed by a neighbour that he ( the neighbour) was in fact the owner
Can't you just go outside and turn it back on yourself?MouseTail wrote:No, you need the Council, or Irish Water now to turn on the water.
With regard to the electricity, be aware that IF it has been switched off for 24 months, then it will be treated as a new connection when it comes to getting it switched on again - and that comes with a princely price tag of €1800! Less than 24 months and its something like <€200.0 -
makeorbrake wrote: »
Can't you just go outside and turn it back on yourself?
With regard to the electricity, be aware that IF it has been switched off for 24 months, then it will be treated as a new connection when it comes to getting it switched on again - and that comes with a princely price tag of €1800! Less than 24 months and its something like <€200.
No, it needs to be turned on at the mains by Irish Water. Also, electricity will only be switched on if an Electrician certifies the electrics as safe.0 -
The services are turned off for a reason - to reduce the risks of flooding and fire. This is likely a condition of the insurance on the property.
Unless you plan on waiting until the water system fills with about 1,000 litres of water and then drains again over several hours, I imagine the owner and agent won't be impressed. If you do this without permission and there is a leak, you will have committed a fairly serious trespass.
Why would we even entertain the idea of doing this without permission?I had the same situation. Water was just turned off at the stop cock and the main fuse was taken out of the fuse board.
We just turned on the water and waited half an hour and then turned on a few taps to check for leaks. We "acquired" a mains fuse to turn on the electricity for 5 minutes to check everything out as well.
I was dealing with an understanding EA who had to oddly pop back to the office for an hour while I checked the house out though!
My house was unoccupied for close to 7 months and there is no way I would have gone ahead without being able to check those things out.
I am not sure how the EA would view this - he seems to not be open to getting it turned back on even though we would pay for everything.makeorbrake wrote: »Surely, if the conveyancing solicitor has done their job competently, then this won't arise? If it does, I guess in theory you can sue the solicitor ( I say in theory - as the deck is stacked against you in taking on a sol. in IRL).
Can't you just go outside and turn it back on yourself?
With regard to the electricity, be aware that IF it has been switched off for 24 months, then it will be treated as a new connection when it comes to getting it switched on again - and that comes with a princely price tag of €1800! Less than 24 months and its something like <€200.
Ye we will check everything with the solicitor. I'd say it could be around 24 months - I will check with him today.0 -
It would seem reasonable that if u have sale agreed and getting a report done, all items that can be tested should be available e.g. Water. Would u buy a house without all taps etc tested?0
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makeorbrake wrote: »Surely, if the conveyancing solicitor has done their job competently, then this won't arise? If it does, I guess in theory you can sue the solicitor ( I say in theory - as the deck is stacked against you in taking on a sol. in IRL).
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Receivers insert special conditions in the contract for sale limiting their liability for any problems with the title and making it clear that they will answer any questions with regard to any litigation concerning the property or boundary disputes and it is up to the purchaser to take it or leave it. Effectively it's pay your money and take your chances. The solicitor for the purchaser can do no more than take what he is given and explain the risks to his client. It constantly amazes me that people who will only get the card serviced by a main dealer will buy a property from a receiver.0 -
Ok, now you've got my interest. Do you (or anyone here) have an example of such a clause?Claw Hammer wrote: »Receivers insert special conditions in the contract for sale limiting their liability for any problems with the title and making it clear that they will answer any questions with regard to any litigation concerning the property or boundary disputes and it is up to the purchaser to take it or leave it.
Surely its a case of leave it! Presumably, there's no need to input such a clause unless there's a real tangible issue?Claw Hammer wrote: »Effectively it's pay your money and take your chances.0 -
It would seem reasonable that if u have sale agreed and getting a report done, all items that can be tested should be available e.g. Water. Would u buy a house without all taps etc tested?
That was my assumption too until I put it to the EA and he said that we would be buying as is and that they may not allow turning on of water/electricity and if there was anything wrong they wouldn't fix it - although I'd say he was BSing us. Although if we found any problems prior to signing the contract we wouldn't proceed.0 -
Claw Hammer wrote: »Receivers insert special conditions in the contract for sale limiting their liability for any problems with the title and making it clear that they will answer any questions with regard to any litigation concerning the property or boundary disputes and it is up to the purchaser to take it or leave it. Effectively it's pay your money and take your chances. The solicitor for the purchaser can do no more than take what he is given and explain the risks to his client. It constantly amazes me that people who will only get the card serviced by a main dealer will buy a property from a receiver.
But should the solicitor not gather all this information prior to signing of the contract and make it obvious to the purchaser that there are problems with the title, property etc?0 -
I'd be keen to know more on this. I was aware that it's not at all unusual to have issues with the title when it comes to receivership properties. However, I assumed that no sale would go through without any fundamental flaw in this regard remaining unresolved.But should the solicitor not gather all this information prior to signing of the contract and make it obvious to the purchaser that there are problems with the title, property etc?
I'd be keen to know more about this if anyone has more info on specifically what these clauses are.0 -
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The services are turned off for a reason - to reduce the risks of flooding and fire. This is likely a condition of the insurance on the property.
Unless you plan on waiting until the water system fills with about 1,000 litres of water and then drains again over several hours, I imagine the owner and agent won't be impressed. If you do this without permission and there is a leak, you will have committed a fairly serious trespass.
I can't see how turning on a stop cock is any worse than turning on a tap?
if it's not locked.
I mean, I'd turn off a stopcock to make sure it stops the mains flow.
If there's leaks in a house plumbing, is this any worse than checking if the overflows in sinks are connected correctly?
as others have mentioned, you'ld want a steep discount to take on the risk of the house being a crock.0 -
The house price is still going up so we've decided its not worth the hassle with the additional issues a house in receivership brings. Plus the house is only a couple of grand less than what other houses went for in the estate a few months ago - and they were completely finished this one needs tiles, kitchen counter top, floors upstairs & downstairs and a full paint job (inside and outside). And as the house has been vacant for more than 24 months you can add another €1,800 to reconnect the electricity.0
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We are eyeing up a receiver sale too and indeed attractive low price is only a starter. Also found condition requires a lot of money for cosmetic items tiles, kitchen etc. Don't believe about buyer beware etc-its not an auction so engineer and solicitor should do their jobs. Fair enough problems might not be fixed but title should be verified0
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To anyone buying a house in receivership, make sure you have a good solicitor.
There was a lot of hold ups on our purchase with the receiver's solicitor not wanting to do any work at all, kept saying we don't know, we don't have anything about that etc etc. Our solicitor wanted to make sure every i was dotted and every t was crossed and in fairness to him and the hours he put it, he kept on at them for months until he was satisfied with the information he had. The selling solicitor had repeatedly tried to fob us off with excuses but eventually provided all the documentation needed in the end.
The fact our solicitor went through so much to complete the sale to his satisfaction is great piece of mind for us.0 -
Sunny Dayz wrote: »To anyone buying a house in receivership, make sure you have a good solicitor.
There was a lot of hold ups on our purchase with the receiver's solicitor not wanting to do any work at all, kept saying we don't know, we don't have anything about that etc etc. Our solicitor wanted to make sure every i was dotted and every t was crossed and in fairness to him and the hours he put it, he kept on at them for months until he was satisfied with the information he had. The selling solicitor had repeatedly tried to fob us off with excuses but eventually provided all the documentation needed in the end.
The fact our solicitor went through so much to complete the sale to his satisfaction is great piece of mind for us.
Just to second this, a good solicitor will strongly advise proceeding with the purchase unless they are completely happy with all the legal "mumbo-jumbo". I gave my solicitor a hard time about the length of time it took to complete the sale but it was worth it for the piece of mind.0 -
@Sunny Dayz & Darklighter: Did either of you - in purchasing receivership properties - come across what Claw Hammer referred to? i.e. the following;Claw Hammer wrote:Receivers insert special conditions in the contract for sale limiting their liability for any problems with the title0
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makeorbrake wrote: »Ok, now you've got my interest. Do you (or anyone here) have an example of such a clause?
Surely its a case of leave it! Presumably, there's no need to input such a clause unless there's a real tangible issue?
SPECIAL CONDITIONS
1. Save where the context otherwise requires or implies or the text hereof expresses to the contrary, the definitions and provisions as to interpretation set forth in the within General Conditions shall be applied for the purposes of these Special Conditions.
2. The said General Conditions shall:
2.1 apply to the sale in so far as the same are not hereby altered or varied, and these Special Conditions shall prevail in case of any conflict between them and the General Conditions;
2.2 be read and construed without regard to any amendment therein, unless such amendment shall be referred to specifically in these Special Conditions.
3. VAT
3.1 This condition has been deleted in its entirety.
4. Title
4.1 Title to the premises in sale shall consist of the documents of title set forth in the Documents Schedule hereto and no objection or requisition or enquiry shall be made in this regard or in relation to any prior title.
4.2 Copies of the documents referred to in the Documents Schedule have been made available for inspection by the Purchaser or the Purchaser's solicitors prior to the Date of Sale and the Purchaser, whether availing of such opportunity of inspection or not, shall be deemed to have purchased the Subject Property with full knowledge of the contents of the documents furnished. The Purchaser shall not call for any other documents whether appearing by recital or otherwise. Where any document is described in the Documents Schedule as being a "copy" (or any derivative of that expression), that document will be furnished on completion in accordance with its description in the Documents Schedule and the Purchaser shall not seek any further or better copies of any such document nor shall the Purchaser call for production of the original thereof or the originals of deeds where the Purchaser is in possession only of counterparts thereof or require an explanation for the non-production of the original thereof and the Purchaser shall raise no objection, requisition or enquiry in this regard. The Subject Property is believed by the Vendor to be and shall be taken as being correctly described as to quantity and otherwise and any minor error, misstatement or omission in the filed plan or other plan in the Documents of Title of this Contract shall not annul this Contract or be a ground for the abatement or compensation of either party to this Contract.
4.3 The Purchaser is deemed to purchase the Subject Property with full knowledge and notice of the actual state and condition of the Subject Property and to take it as it stands subject to all rights of way, water, light, drainage and other easements, rights, privileges and liabilities.
5. Bank's Liability
5.1 The Purchaser hereby expressly acknowledges that the Bank is executing this Contract in its capacity as mortgagee in possession of the Subject Property only and for the sole purpose of facilitating the acquisition of the Subject Property by the Purchaser.
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6. Variation to General Conditions
6.1 The Purchaser acknowledges and accepts that the Bank has very limited knowledge as to the affairs of the Mortgagor and the Subject Property prior to taking possession of the Subject Property. The Purchaser further acknowledges and accepts that any warranties, statements, representations, replies to requisitions / rejoinders on title, affidavits and declarations are or will be given by the Bank to the best of it's knowledge, information and belief, albeit limited as aforesaid. The Bank shall not be liable for any breach of warranty, or any misstatement or misrepresentation unless the facts surrounding such are shown to have been in the Bank’s actual knowledge at the relevant time. Without prejudice to the generality of the foregoing, the Purchaser shall conclusively accept the following:-
6.1.1 Declarations - The Bank’s obligations (if any) (including those contained in General Conditions 10(b)(iii) and 13(d)) to verify certain facts by way of Statutory Declarations to be completed by a competent person shall be satisfied by providing a Statutory Declaration of the Bank in capacity as mortgagee in possession verifying such facts to the best of his knowledge, information and belief from such documents and records as may be available to him.
6.1.2 Identity – The Purchaser shall accept such evidence of identity as may be gathered from the description in the copy documents specified in the Documents Schedule. The Certificate of Identity set out in Section 1 of the Documents Schedule hereto is being furnished to the Purchaser on a without prejudice basis and the Purchaser shall not be entitled to raise any objection, requisition or enquiry in relation thereto. The Purchaser will not be furnished with any further documentation as to identity and shall raise no objection, requisition or enquiry in this regard. General Condition 14 is hereby deleted.
6.1.3 Boundaries – The Subject Property is believed to be and shall be taken as being correctly described as to quantity and otherwise and any error, misstatement or omission in any plan contained in the Documents Schedule of this Contract shall not annul this Contract or be a ground for the abatement or compensation of either party to this Contract. The Purchaser shall not require the Vendor to produce any explanations or otherwise as to the boundaries, fences or walls. The Purchaser is deemed to have inspected the Subject Property and to be familiar with its boundaries, fences and walls and the Vendor give no warranty and make no representation as to:
(a) the area or the boundaries of the Subject Property;
(b) the coincidence of actual boundaries in the vicinity of the Subject Property and the boundaries of the Subject Property shown by the title furnished;
(c) encroachments made by the Vendor on property adjoining the Subject Property in conjunction with the use of the Subject Property; and
(d) the Purchaser is placed on its own enquiry in these respects and shall not require the Vendor to produce any declarations of identity or explanation to the said boundaries, walls or otherwise.
6.1.4 Roads & Services – The purchaser shall accept the document listed at 10 of the documents schedule as evidence of the position in relation to roads and services. No objection, requisition or enquiry shall be raised by the Purchaser in relation thereto and the Receiver shall furnish no further documents in that regard.
6.1.5 Rights, Liabilities and Conditions – General Condition 15 is hereby deleted and General Condition 16 shall be read as if the words “Subject to Condition 15” had been deleted
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therefrom. The Bank shall only be obliged to disclose such easements, rights, privileges and liabilities not already known to the Purchaser or apparent from inspection which have come to the Bank’s actual attention prior to the date thereof. The Purchaser shall satisfy itself in relation to any other easements, rights, privileges or liabilities affecting the Subject Property or likely to affect it.
6.1.6 Disclosure of Notices – General Condition 35 shall not apply to this sale. None of the orders or notices referred to therein have come to the Bank’s actual attention prior the date hereof, save those (if any) disclosed in the Documents Schedule hereto.
6.1.7 Development – General Condition 36 is hereby deleted and the following provisions shall apply:
(a) The Bank does not warrant that planning permission or building bye-law approval has been obtained for any development that may have taken place on the Subject Property or, when any planning permission or bye-law approval has been obtained, that the development has been carried out in compliance with such planning permission and / or building bye-law approval. The Bank does not warrant the compliance of the Subject Property with the Building Control Acts 1990 and 2007 or any regulations made thereunder and / or with Fire Officers requirements. In particular the Bank shall be under no obligation to explain any acts appearing on planning searches or discharge any enforcement notices appearing on the planning register in relation to the Subject Property.
(b) Without prejudice to the foregoing the Purchaser is furnished with the documents listed at Section 2 of the Documents Schedule which relate to the Subject Property. The Bank has no further, other or better documents relating to the planning status of the Subject Property and none will be requested by the Purchaser.
(c) The Purchaser shall raise no objections, requisition or enquiry in relation to the existence or absence or adequacy of any planning permission and / or building bye-law approval or the compliance or non-compliance of the Subject Property with same and / or with the Building Control Acts 1990 and 2007 and / or with Fire Officer's requirements (including the conditions thereof) and shall not require the Bank to furnish any certificates in relation thereto.
7. Deed of Assurance to the Purchaser
7.1 Subject to the provisions which hereinafter appear, the Vendor will deliver a Deed of Assurance in respect of the Subject Property on the Closing Date from the Bank as holder of the Mortgage a first ranking security in respect of the Subject Property as mortgagee in possession of the Subject Property and execute the Deed of Assurance to the Purchaser pursuant to its statutory powers and its powers conferred by the Mortgage and Charge. In the event of the Vendor exercising this right:
7.1.1 The Bank will assure the Subject Property to the Purchaser in accordance with its statutory powers and in accordance with the Mortgage;
7.1.2 The Bank shall not be obliged to explain or discharge any acts appearing on searches made at the closing of this sale relating to the Bank;
7.1.3 The Bank will not furnish any company incorporation documents or company secretary certificates, nor will it furnish replies to requisition 18 in relation to a body corporate vendor.
8. Family Home Protection Act
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8.1 No family home declaration will be provided from the Bank in accordance with the Law Society Practice Direction dated 1 September 1989.
9. Non-Title Information Sheet
9.1 The non-title information sheet will not be completed. No objection, requisition or enquiry will be raised in this regard.
10. Environmental
10.1 No warranty or otherwise is being given or shall be given by the Vendor in relation to compliance with any law relating to environmental issues whether Irish law, European Community law, any common or customary law legislation and / or any order, rule or regulation, directive, statutory instrument, bye-law or any legislative measure thereunder and it shall be a matter for the Purchaser to satisfy itself in this regard. No objection, requisition or enquiry shall be raised in relation thereto.
10.2 For the purposes of this special condition "Environmental Laws" means all laws (whether criminal, civil or administrative) including common law, statutes, regulations, statutory instruments, directives, bye-laws orders, codes and judgments having the force of law in Ireland concerning environmental matters and protection of the environment and all regulations, bye-laws, orders, and codes made thereunder.
11. Outgoings
11.1 For the purposes of this Special Condition, "Outgoings" shall mean all rates, taxes and charges (including service charges) of any description (whether or not of a capital or non-recurring nature) which may at any time be payable in respect of the Subject Property and the utilities enjoyed in connection therewith, including the supply of water, drainage of soil and surface water, electricity, gas, oil, telephone, power, fire and security alarm systems, telecommunications, computer linking and other services of whatsoever nature and kind.
11.2 The Vendor shall not be obliged on the Closing Date to furnish evidence that all Outgoings have been discharged in full save those for which the Bank has a statutory obligation to discharge The Purchaser expressly acknowledges that any outstanding charges in respect of Outgoings are a matter for him and he shall not seek evidence of discharge of same from the Vendor.
12. Severability
12.1 If any term, provision, clause or sub-clause of this Contract shall in whole or in part be held by a Court to be unlawful, void or unenforceable, under any enactment or rule of law, this term, provision, clause or sub-clause or part thereof shall to the required extent by severed from and deemed not to form part of this Contract and the validity and enforceability of the remainder of this Contract shall not be thereby adversely affected.
13. Notices
13.1 Any notices to be given to or served on the Bank on foot of the Conditions shall only be given in accordance with General Condition 49(b)(iv) or General Condition 49(c) and General Condition 49 is amended accordingly.
14. Tax Number & Stamp Duty
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14.1 The Bank's tax number and tax type will be furnished on closing, to be used by the Purchaser to stamp the deed of assurance. No further information shall be furnished in this regard.
15. Entire Agreement and Representations
15.1 The Purchaser agrees and accepts that no statement or measurement contained in any brochure advertisement issued by the Bank or any agent on behalf of the Bank relating to the Subject Property shall constitute a representation inducing the Purchaser to enter into the sale or any warranty forming part of this Contract.
15.2 Any statement, description of measurement contained in any such particulars or in any verbal form given by or on behalf of the Bank are for illustration purposes only and are not to be taken as matters of fact.
15.3 Any misstatement, misdescription or incorrect measurement given verbally or in form of any printed particulars or any person on the Bank’s behalf shall not give rise to any cause of action claim or compensation or to any right of rescission under this Contract.
15.4 The Purchaser shall have no right of action against any agent, employee or any person whatsoever connected directly or indirectly with the Bank whereby any mistake, omission, discrepancy, inaccuracy, misstatement or misrepresentation may have been published or communicated to the Purchaser during the course of any representation or negotiation leading up to the sale.
15.5 This Contract constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes and extinguishes any representation or warranties (if any) previously given or made accepting those contained in this Contract and no variation shall be effective unless agreed and signed by the parties or by some person duly authorised by each of them.
15.6 The Purchaser agrees and accepts that no information, statement, description, quantity or measurement contained in any advertisements or given orally or contained in any brochure, catalogue, letter, report, docket or hand out issued by or on behalf of the Vendors or any agent acting on behalf of the Vendors in respect of the Subject Property (whether or not in the course of any representation or negotiations leading to the Sale) shall constitute a representation inducing the Purchaser to enter into the Sale or a condition or warranty forming part of this Contract. Any information, statement, description, quantity or measurements so given or contained in any such advertisement, brochure, catalogue, letter, report or hand out issued by or on behalf of the Vendors or any agent on its behalf are for illustration purposes only and are not to be taken as matters of fact and that any mistake, omission, inaccuracy or mis-description given orally or in the form of any advertisement, brochure, catalogue, letter, report or hand out issued by or on behalf of the Vendor or any of its agents (whether or not in the course of any representation or negotiations leading to the Sale) shall not give rise to any right of action, claim, entitlement or compensation against or from the Vendor or any of its agents under this agreement or otherwise or any right of residue of termination. The within Contract comprises the entire of the Contract between the Vendor and the Purchaser and supersedes any other alleged contract between the parties in relation to the Subject Property. For the avoidance of doubt, the parties hereby acknowledge that any previous agreement which may have been entered into by the Vendor and Purchaser relating to the Subject Property is hereby rescinded. Any statement, representation or warranty whatsoever made by the Vendor, agent or employees during the course of negotiations leading to the Sale which are not herein contained and setforth are hereby treated as having been withdrawn and will have no force or effect at law whatsoever. General Condition 33 shall be read subject to this Special Condition.
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16. Condition
16.1 The Purchaser is deemed to purchase the Subject Property with full notice of the actual state and condition of the Subject Property.
17. Management Company
17.1 The Vendor shall not be obliged to reply to Requisition 37 in relation to managed properties.
17.2 The Vendor shall pay on or before completion any unpaid sums due in respect of the service charge for the Subject Property up to the date of closing, failing which there shall be an apportionment in accordance with General Condition 27.
18. Completion
18.1 Completion shall take place at the office of the Bank's Solicitors. On closing the Purchaser's solicitors will require that all purchase monies furnished are by way of cleared funds by way of electronic transfer to ByrneWallace Client account (with Bank of Ireland, College Green, Dublin 2, Account Name: <snip> Client Account, Account No: <snip>, Sort Code: <snip>). It shall be the responsibility of the Purchaser to ensure it has all the relevant account details for the purposes of closing.
19. Closing Date
19.1 The Closing Date shall be the date that is three (3) weeks from the date of this Contract PROVIDED THAT on that date the Bank is in possession of certificates of discharge / exemption / waiver from NPPR and / or Household Charge (where applicable) in respect of the Subject Property (the “Certificates of Discharge / Exemption / Waiver”). In the event that the Bank is not in receipt of required Certificates of Discharge / Exemption / Waiver on that date then in such event the Closing Date shall be the date that is five (5) working days after the date that the Bank notifies the Purchaser that he is in receipt of the required Certificates of Discharge / Exemption / Waiver.
20. No Assignment
20.1 The Purchaser its successors and assigns shall not be at liberty to assign or sub sell or otherwise alienate or dispose of its interest in the Subject Property or this Contract or the benefit of this Contract to any party. The Vendor shall only be required to execute the Deed of Assurance in favour of the Purchaser and not in favour of any other person or body.
21. Local Property Tax, NPPR & Household Charge
21.1 The Vendor shall discharge all Local Property Tax ("LPT") relating to the Subject Property in advance of the completion of the Sale and shall furnish the Purchaser with confirmation of payment on completion of the Sale by way of a copy of the LPT Return. The amount paid by the Vendor in respect of LPT relating to the Subject Property shall be apportioned as between the Vendor and the Purchaser in accordance with General Condition 27. General Conditions 8 (c) and 27 are amended accordingly.
21.2 The Purchaser will be furnished on or before closing with the certificate for the payment of the Non Principal Private Residence Tax ("NPPR"). The Purchaser shall accept this as conclusive evidence that all NPPR relative to the Subject Property has been discharged and shall raise no further enquiry, objection or requisition in relation thereto.
7463278.1
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21.3 The Purchaser will be furnished on or before closing with the certificate for the payment of the Household Charge relative to the Subject Property. The Purchaser shall accept this as conclusive evidence that the Household Charge relative to the Subject Property has been discharged and shall raise no further enquiry, objection or requisition in relation thereto.
22. Deposit
22.1 <snip - estate agent> or the Vendor's Solicitor will hold the deposit as agent for the Vendor and not as stakeholder and General Condition 4(d) is hereby deleted.0 -
That post gave me a headache! Surely if there is a receiver then there must be legal judgement giving them ownership of the property to sell it....0
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Claw Hammer wrote: »SPECIAL CONDITIONS
1. Save ....
Good god man - can you summarise? That is too boring to read.0 -
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Most important as I can see
The Purchaser acknowledges and accepts that the Bank has very limited knowledge as to the affairs of the Mortgagor and the Subject Property prior to taking possession of the Subject Property. The Purchaser further acknowledges and accepts that any warranties, statements, representations, replies to requisitions/rejoinders on title, affidavits and declarations are or will be given by the Bank to the best of it's knowledge, information and belief, albeit limited as aforesaid. The Bank shall not be liable for any breach of warranty, or any misstatement or misrepresentation unless the facts surrounding such are shown to have been in the Bank’s actual knowledge at the relevant time.
Caveat Emptor
The vast majority of the time, everything is absolutely fine, but there is no comeback to the vendor if it is not.0
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