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

Rights When Buying a House From a Receiver

Options
13»

Comments

  • Options
    #62
    drunkmonkey
    Registered Users Posts: 28,192 ✭✭✭✭drunkmonkey


    Dolbhad wrote: »
    The law society issues practice notes for solicitors on their website. If you search law society of Ireland and receiver sales you see the issues the law society flag about the contracts. Generally advice I would say is don’t buy. Maybe in 2013 it was a bargain but not now. Long delays in closing it with every restrictive condition in place to ensure no comeback with receiver and extra legal costs and engineer costs on you to certify it’s in some order. In addition I’m sure your solicitor would have to raise it with the bank giving you a mortgage of the restrictions and bank could say no.

    I can see what's wrong, i'll have to have an engineer look but rented a house pretty much the same for a few years so i'm used to them. Could see where the ceiling was repaired from where the shower leaked upstairs that kind of thing.
    The receiver would put a lot of people off i'd imagine, if I got 20/25% off i'd go a cash deal on it. I'm just wondering how low the receiver could possible go for an easier sale rather than mess around with someone buying with a loan.


  • Options
    #63
    Bigus
    Registered Users Posts: 4,942 ✭✭✭Bigus


    drunkmonkey wrote: »
    I can see what's wrong, i'll have to have an engineer look but rented a house pretty much the same for a few years so i'm used to them. Could see where the ceiling was repaired from where the shower leaked upstairs that kind of thing.
    The receiver would put a lot of people off i'd imagine, if I got 20/25% off i'd go a cash deal on it. I'm just wondering how low the receiver could possible go for an easier sale rather than mess around with someone buying with a loan.

    It's also important to ascertain how the receiver got their hands on the house. I.E. was it amicable or aggressive on behalf or the previous occupiers or owners and are they likely to interfere in future or cause nightmares and also are they heavies or lightweights. Often with bidx1 you can determine from the legals how the house was handed back or indeed seized , which has a major bearing imho, on whether to purchase or not.


  • Options
    #64
    Claw Hammer
    Registered Users Posts: 6,236 ✭✭✭Claw Hammer


    drunkmonkey wrote: »
    I can see what's wrong, i'll have to have an engineer look but rented a house pretty much the same for a few years so i'm used to them. Could see where the ceiling was repaired from where the shower leaked upstairs that kind of thing.
    The receiver would put a lot of people off i'd imagine, if I got 20/25% off i'd go a cash deal on it. I'm just wondering how low the receiver could possible go for an easier sale rather than mess around with someone buying with a loan.

    There can be all kinds of problems other than the need for repair. For example, there may be an issue with a Family Home Declaration Act certification. The Receiver won't know whether or not the property was ever a family home within the meaning of the Act and whether or not the appropriate written consents were given. There may also be boundary issues with the neighbours, among many other possible issues.


  • Options
    #65
    happyfriday74
    Registered Users Posts: 194 ✭✭happyfriday74


    [QUOTEas 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!)][/QUOTE]

    Receivers maintenance crews will have done a draindown and knocked off the utilities when they were appointed over the house.


  • Options
    #66
    Claw Hammer
    Registered Users Posts: 6,236 ✭✭✭Claw Hammer


    happyfriday74 wrote: »
    [QUOTEas 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!)]

    Receivers maintenance crews will have done a draindown and knocked off the utilities when they were appointed over the house.[/QUOTE]

    Those are structural/utility issues. What about title issues?


  • Advertisement
  • Options
    #67
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,218 Mod ✭✭✭✭godtabh


    hadoken13 wrote: »
    Hi,

    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.

    We bought a house like this but it was an 'power of attorney' sale. The person selling it was a ward of court. It was sold as seen with no come back. The contract stated the same.

    There were issues over planning, water, gas, electricity, keys missing, planning history missing.

    Sought independent advice and made a decision based on that.


Advertisement