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Issue with a property title

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  • 25-10-2017 6:37pm
    #1
    WonderWhy
    Registered Users Posts: 2 ✭


    Hi, Hoping that someone can share his thoughts or possible came across similar situation. Im trying to buy a duplex which appearently have issues with the title. On the title there is a Management Company which however never existed. Looks like developer went into bankruptcy straight away. My Solicitor received all documents from the Vendor he needed. Now my Solicitor will try to reach out to the bank to accept the qualification on the title but as advised to me its a purely commercial decision of the bank's laywers if they will consider this as a marketable title. It can take few months for this to be decided. Now, my concern is- realistically what are the chances for this to go through. I could happily wait if only knew they the bank will accept it but ive no idea and my Solicitor is not giving any suggestions either. I wouldnt like to waste another few months to get to know it has failed. Anyone had similar experience please? Thank you


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    #2
    VonBeanie
    Registered Users Posts: 101 ✭✭VonBeanie


    Personally, I would not touch a property which has a questionable title. Even if the bank allow it, it is a massive problem which will impact you if you ever need to sell. I believe the bank will not be able to get past it anyway. Sorry .....


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