You mean for sale or rent? If for sale how does this work if you don't yet own it!?Due for completion in April 08. Have had it on the market for past 6 months with no interest.
Trying to sell before I take possession. The Dublin agent I purchased through arranged for an estate agent in Liverpool to put it on the market for sale. However, the stipulation is that I cannot sell it below £195,000 which is a ridiculous price in a depressed market. Everything is in the developer's favour. When I put the deposit down 4 years ago, the agent informed me it would get £750 per week in rental income. The reality will be more in the region of £495.
Did you get any independent advice on this issue?Trying to sell before I take possession. The Dublin agent I purchased through arranged for an estate agent in Liverpool to put it on the market for sale. However, the stipulation is that I cannot sell it below £195,000 which is a ridiculous price in a depressed market. Everything is in the developer's favour. When I put the deposit down 4 years ago, the agent informed me it would get £750 per week in rental income. The reality will be more in the region of £495.
If the solicitor came on the suggestion of the selling agent then I would wonder. In theory they should always adhere to the standards of the professional and act on the ultimate client's behalf but if they/their practice are also acting for the seller in some capacity then there could be a conflict of interests. In my opinion it rarely makes sense to engage a solicitor on the recommendation of the selling party.Do you think this solicitor will not be totally independent?
You really need to talk to a good/reliable solicitor about the ins and outs and implications of the legalities.I pulled out the legal documents and the Report on the Title Deed refers to the money paid as a deposit (not a stage payment). I can't find anything about the implications of me not completing the purchase. It only refers to delayed completion where the developer can charge interest.
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