L
lela
Guest
Hello Everyone,
My husband and I have put a booking deposit only for a two-beds apartment in Dublin west in October 2005.
The estate agent told us that someone tried to purchase the same place before, but wouldn't close the contract due to financial issue. They didn't give us any details and we didn't realise at that time to ask more information about first purchaser.
In early December 2005, our solicitor contacted us to sign the exchange contract. We saw a small paragraph on the contract that mentioned previous purchaser. Basicly saying that previous purchaser failed to close the contract and they were told the propery has gone back onto the market. Previous purchaser's solicitor has threaten the vender that they will take legal action to agaist vender's decision. However, there is no any legal action has been taken as far as our solicitor aware.
We didn't sign the contract and we ask our solicitor to find out more information about previous purchaser and see if vender can take back the original contract. About one month later, our solicitor told us that vender has no interested in previous purchaser, as far as they see, it is over with them. This is mentioned in the current contract.
In the meantime, our solicitor has advised us to tell our lender about the risk involved, as the previous purchaser has right to claim this apartment back within 6 years by law. so they may take back this apartment from us and our bank will lose money if the vender run out business.
The bank informed our solicitor that they too want to be included, speciaficially by name, under the indennity clause; however, the vender's solicitor has refused this request.
Since then, our solicitor has pleaded with both parties to reconsider their dicisions on this matter - the result has remained a stalemate for almost 2 months.
Now the advise from friends and colleagues is to walk away.
But, the price and location are ideally for us. We have been waiting for almost 7 months since the booking depost and always have been able to well-afford the 10% .
the results are now is;
1 property prices have increased
2 ECB rates have increased
3 Our salaries have not increased in relation to property prices
4 We missed any chance to buy a place with less complex legal issue
Basicly we have suffered.
Any advise appreciated
My husband and I have put a booking deposit only for a two-beds apartment in Dublin west in October 2005.
The estate agent told us that someone tried to purchase the same place before, but wouldn't close the contract due to financial issue. They didn't give us any details and we didn't realise at that time to ask more information about first purchaser.
In early December 2005, our solicitor contacted us to sign the exchange contract. We saw a small paragraph on the contract that mentioned previous purchaser. Basicly saying that previous purchaser failed to close the contract and they were told the propery has gone back onto the market. Previous purchaser's solicitor has threaten the vender that they will take legal action to agaist vender's decision. However, there is no any legal action has been taken as far as our solicitor aware.
We didn't sign the contract and we ask our solicitor to find out more information about previous purchaser and see if vender can take back the original contract. About one month later, our solicitor told us that vender has no interested in previous purchaser, as far as they see, it is over with them. This is mentioned in the current contract.
In the meantime, our solicitor has advised us to tell our lender about the risk involved, as the previous purchaser has right to claim this apartment back within 6 years by law. so they may take back this apartment from us and our bank will lose money if the vender run out business.
The bank informed our solicitor that they too want to be included, speciaficially by name, under the indennity clause; however, the vender's solicitor has refused this request.
Since then, our solicitor has pleaded with both parties to reconsider their dicisions on this matter - the result has remained a stalemate for almost 2 months.
Now the advise from friends and colleagues is to walk away.
But, the price and location are ideally for us. We have been waiting for almost 7 months since the booking depost and always have been able to well-afford the 10% .
the results are now is;
1 property prices have increased
2 ECB rates have increased
3 Our salaries have not increased in relation to property prices
4 We missed any chance to buy a place with less complex legal issue
Basicly we have suffered.
Any advise appreciated