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what happens if vendor passes away during sale?

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  • 22-06-2015 10:40pm
    #1
    jayjay2010
    Registered Users Posts: 505 ✭✭✭


    What happens if the vendor passes away after contracts signed but still waiting for negative equity consent from bank letter to come?

    I'm seriously not having fun in this buying process.............


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    #2
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    jayjay2010 wrote: »
    What happens if the vendor passes away after contracts signed but still waiting for negative equity consent from bank letter to come?

    I'm seriously not having fun in this buying process.............

    If there is no will then it goes to probate and thereafter the vendors estate. The sale progresses but it takes longer.


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    #3
    MouseTail
    Registered Users Posts: 1,663 ✭✭✭MouseTail


    Goodness, speak to your solicitor. I imagine NE is no longer a concern as mortgage assurance kicks in, but I have no idea if the contract with a deceased person is enforceable, or when it becomes part of the Estate for the Executor to deal with. What a difficult situation for you.


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    #4
    MAJJ
    Registered Users Posts: 1,679 ✭✭✭MAJJ


    MouseTail wrote: »
    Goodness, speak to your solicitor. I imagine NE is no longer a concern as mortgage assurance kicks in, but I have no idea if the contract with a deceased person is enforceable, or when it becomes part of the Estate for the Executor to deal with. What a difficult situation for you.

    I believe it's the executors decision and good point above on mortgage assurance. OP Good luck with it and hope it goes well for you


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    #5
    L1011
    Registered Users Posts: 68,919 ✭✭✭✭L1011


    You'll be another year plus in even the quickest circumstances - I'd just walk away


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    #6
    Riskymove
    Registered Users Posts: 10,888 ✭✭✭✭Riskymove


    L1011 wrote: »
    You'll be another year plus in even the quickest circumstances - I'd just walk away

    it depends

    if the vendor is married it may simply pass to spouse with no serious delay.


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