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

House Purchase Woes

Options
  • 02-06-2016 3:51pm
    #1
    linda_mjb
    Registered Users Posts: 8 ✭


    Hi everyone

    I am seeking some advice on my situation. In October 2015, I went sale agreed on a property paid deposit etc. The house had been empty since February 2015. Contract were exchanged and signed the second week of December with intention of drawing down funds before Christmas to avail of the bank offer of paying €2,000 towards legal fees. At the last minute the vendors were unable to furnish a certificate of compliance for a drive way that been installed in 1968 so we could not close. I should mention this is a family home up for sale with 4 kids (adults) as beneficiaries. There has been some sort of fall out as the vendors side of the sale have 2 solicitors,one in Dublin and one in Louth. One of the solicitors only work 3 mornings a week so I understand it is really hard to get hold of her.

    My solicitor then gave a close date of the end of February after probate was granted and this happened in February. As far as she was concerned we were ready to go so we drew down the funds. So we did...

    Roll on to present day. I am paying a mortgage on a house we still have not closed on. Each and every time I contact my solicitor I am made aware of issues that in my opinion should have been resolved before any draw down. The current one is that my solicitor in error over looked the freehold/lease status of the property. The vendors have not purchased the freehold so DCC needed to give permission for the sale. The forms had to be signed by all parties, one of the vendors is now in Australia and we are currently waiting for these documents to be returned. I was told that they were 100% going to arrive last Thursday and we would close Tuesday 31st May. It has been 2 weeks since I heard from my solicitor I sent her a few emails and rang but getting no response. The last time we spoke she suggested returning the funds to the bank as they have been sitting in her account since February 2016. I am not sure what will happen in this case. Does anyone know?

    Suffice to say my patience have gone. Any advice would be greatly appreciated.


Comments

  • Options
    #2
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Advice for anyone sale agreed on a property - ignore it and keep looking. The Sale Agreed status in Ireland has absolutely no binding effect on anyone.

    That aside it's very difficult to advise you without straying into the realms of legal advice. I would personally contact another solicitor and get them to advise. Mortgages, generally, shouldn't be drawn down in this manner. A blind eye is turned to the odd day or week (AFAIK) but funds should be returned if closing isn't forthcoming. I'm open to correction there, I'm sure it depends on the T&Cs of the mortgage provider hence why a second solicitor might be the order of the day.

    The issue there is, if your solicitor has messed up, they're going to do one of two things. Focus the mind and get things moved on, assuming the vendors are still willing to go ahead, or pull the plug entirely and return the funds to the bank.

    As a purchaser you really need to be in a position to walk away, I'd consult with the bank on getting approval again and get into a position where you can walk away from this purchase and start looking again. If things turn out okay on this property - great - but in my limited experience vendors won't do anything unless forced.

    On the leasehold/Freehold thing - it's only vendors that hold that up, it's not something major a solicitor would get too worried about. DCC are unusually efficient at getting that done.

    Edit: Sorry reread your post, yep your solicitor looks to be circling the wagons. I'd get on to you bank and start looking at alternatives; the issue there does that put them on notice of anything they're not aware of? If contracts have been signed at the very least I'd be looking to get any deposits back as a sign you're about to pull out at the very least. I believe a 28 day notice has to be issued. The problem is will your solicitor do this as a tactic? Another option would be attempting to force completion but you're looking at the guts of €20K in legal fees there.


Advertisement