Release of Deeds

Rothmans

Quick question re deeds for anyone in the know.

I've been sale agreed on a property for the last 7 weeks or so, and I'm still waiting for the bank on the other side to release the deeds. Was reading an article in the IT the other day where the author stated that she closed within 7 weeks, and the banks haven't even released the deeds yet in my case!

Is this normal? And how long more should I expect to wait?

heebusjeebus

I've heard that the old RBS were very slow in releasing the deeds.
I've been through the process recently and my solicitor had to hound AIB every day to get them to release them. Took 2 weeks I think.

Askthe EA

Im going through one with AIB now. Two weeks after request, still not released.

M.Cribben

Also takes about 7 - 8 weeks with KBC.
There really should be fines/penalties for the banks who needlessly delay this whole process.

LirW

We wanted a quick cash purchase, it took 11 weeks altogether, it took the bank 7 weeks to release the deeds.

Rothmans

Many thanks folks. Good to know that it's not unusual to be waiting this long.

annoyedgal

Bank of Ireland released ours pretty quickly. Had to pay a fee to release them. Was waiting ages for bank to release deeds for house we bought, not sure what bank it was but held things up considerably.

Rothmans

Update:

Bit of a strange one.

Received a call from the auctioneer today. He told me that the Original Title Deeds were lost by the bank, but that there are copies of same, and that the vendor's solicitor will issue contacts in the coming week. I emailed my solicitor informing him of same, but don't expect to hear back until next week.

The property is an older property (late 19th century), and is Registry of Deeds, as opposed to Land Register.

However, the question I have is how can contracts issue and the sale proceed if the original deeds are missing, and should I expect big delays now?

(Posted this in legal discussion too, but it doesn't seem to be a very busy forum)

Ineski

We are currently waiting for the vendors solicitor to get their title deeds as well.
We are only waiting about 2 weeks now but I'm just wondering would the wait be as long if the vendors mortgage was already paid off?

M.Cribben

Ineski wrote: »

We are currently waiting for the vendors solicitor to get their title deeds as well.
We are only waiting about 2 weeks now but I'm just wondering would the wait be as long if the vendors mortgage was already paid off?

Depends entirely if the bank still hold the deeds or not.

tuisginideach

There were all sorts of rumours post-crash that banks had no idea where the deeds of half the celtic tiger era purchase were - rumours, I admit ...

Homer

For some reason it’s one of the last things to get requested, when in fact it should be one of the first as it’s painfully slow!

evolving_doors

tuisginideach wrote: »

There were all sorts of rumours post-crash that banks had no idea where the deeds of half the celtic tiger era purchase were - rumours, I admit ...

Naw twas true, Jooooooooe Dufffaayyyy did a show on it.