• No Deeds On Repossessed House

    By Guest on 16th Apr 2019

    I am considering purchasing a house through a estate agent. The house is owned by a bank who are selling the house. There are no deeds to the house. The house sold and then the sale fell through as another lender said they had partial claim to the house. This was resolved by the bank and they once again put it up for sale. This is the house I am considering. Naturally it is well below market value. Am I wise buying this or just risking heartache. I have heard of indemnity insurance and the 12 year rule where a possessory deed may become a full deed. Could solicitor conveyancing fees be huge for this sale? This is a cash sale. No mortgage.

  • 1 Answers

    By Guest on 17/04/2019

    Our legal fee would be £950 inc VAT. I can't say what other firms might charge.

    Yes, there is a potential risk of someone with title to the property stepping in but it depends on what the situation is; perhaps the lender has fully resolved the issue. Our number is 03333 122 221.

    www.notaryexpress.co.uk

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