Conveyancing Questions

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Non-Refundable deposit for Auction Property by croboy Started by croboy, 31-03-2020, 13:20 PM	8 responses 76 views 0 likes	Last Post by Lawcruncher 03-04-2020, 08:58 AM
Current Sales (In Progress but not Exchanged) by Claymore Started by Claymore, 31-03-2020, 13:12 PM	1 response 39 views 0 likes	Last Post by jpucng62 01-04-2020, 14:48 PM
What's the worse that could happen? by SomeGuyNamedDave Started by SomeGuyNamedDave, 18-03-2020, 21:45 PM	6 responses 121 views 0 likes	Last Post by pilman 29-03-2020, 17:46 PM
Purchasing property that is tenanted by mhuk01 Started by mhuk01, 25-03-2020, 16:06 PM	2 responses 37 views 0 likes	Last Post by theartfullodger 26-03-2020, 08:38 AM
Selling of freehold, shareholder refusal by debzb Started by debzb, 28-02-2020, 17:12 PM	2 responses 62 views 0 likes	Last Post by Lawcruncher 23-03-2020, 23:31 PM
Freehold title by propertyboy Started by propertyboy, 07-03-2020, 23:14 PM	8 responses 136 views 0 likes	Last Post by propertyboy 18-03-2020, 22:19 PM
Please help me identify if this is a problem by propertyboy Started by propertyboy, 07-03-2020, 22:57 PM	18 responses 179 views 0 likes	Last Post by propertyboy 13-03-2020, 17:18 PM
Common Area Transfer - Not completed on an Apartment Block by Kevin5017 Started by Kevin5017, 10-03-2020, 16:48 PM	0 responses 20 views 0 likes	Last Post by Kevin5017 10-03-2020, 16:48 PM
Seller-Tenant Notice Issues by ak90 Started by ak90, 06-03-2020, 19:39 PM	15 responses 140 views 0 likes	Last Post by Mrs Mug 07-03-2020, 18:48 PM
Loss of sale following unreasonable fees request from new freeholder by seagull Started by seagull, 28-02-2020, 14:03 PM	3 responses 167 views 0 likes	Last Post by ATC 29-02-2020, 09:26 AM

Reply to Non-Refundable deposit for Auction Property

by Lawcruncher

There are two ways in which the OP can be bound:

One is that the OP did not attend the auction room personally, but submitted a bid which was not bettered in the auction room. In that case the contract was made on the fall of the hammer. A sale by public auction is one of the exceptions...
- Channel: Conveyancing Questions
03-04-2020, 08:58 AM
Non-Refundable deposit for Auction Property

by croboy

Hi,

We purchased a property under auction conditions (we didn't buy it at the auction but because we had seen it while 'under auction'we had to purchase it under auction conditions and pay a £3000 'non refundable deposit/fee' along with a premium to auction house

long story...
- Channel: Conveyancing Questions
31-03-2020, 13:20 PM
Reply to Non-Refundable deposit for Auction Property

by ATC

it was probably a combination of fee payable by the buyer and deposit on a small lot size property. Very unlikely to see any money back if not proceeding. I cant see that the auctioneer would have collected 3000 pounds on any other basis. They are approachable people, talk to them
- Channel: Conveyancing Questions
03-04-2020, 06:06 AM
Reply to Non-Refundable deposit for Auction Property

by Stew

I think what the OP means is that he effectively made a bid on a property under "modern auction" conditions, whether at the auction of via a different route. You will probably find out that in some of your communications there were terms and conditions associated with making your offer on...
- Channel: Conveyancing Questions
02-04-2020, 20:34 PM
Current Sales (In Progress but not Exchanged)

by Claymore

Hi

Is there anyone on here who has actual experience of what is going on with current sales? IE, if you are ready to exchange and complete in about 7 days. Are Solicitors actively making checks to find out if a transaction 'can not' be temporarily delayed? Or are some Solicitors allowing...
- Channel: Conveyancing Questions
31-03-2020, 13:12 PM
Reply to Current Sales (In Progress but not Exchanged)

by jpucng62

I think one of the big problems is removals. I read online about one company who would still do removals but only in a short chain. I think if you can show that you can arrange removals and all parties are willing you could possibly still move, with all parties agreement - but its a bit risky.
...
- Channel: Conveyancing Questions
01-04-2020, 14:48 PM
Reply to Non-Refundable deposit for Auction Property

by Lawcruncher

"We purchased a property under auction conditions"

"We hadn't exchanged contracts or got very far"

The two above statements are incompatible. Please confirm exactly what happened. Did you sign anything?...
- Channel: Conveyancing Questions
31-03-2020, 21:53 PM
Reply to Non-Refundable deposit for Auction Property

by AndrewDod

What exactly is the point of a deposit if you don't lose it if you don't proceed. That is the entire point....
- Channel: Conveyancing Questions
31-03-2020, 18:21 PM
Reply to Non-Refundable deposit for Auction Property

by royw

Really? I've never heard of that.
I don't think you'll get any of your deposit back....
- Channel: Conveyancing Questions
31-03-2020, 17:22 PM
Reply to Non-Refundable deposit for Auction Property

by AndrewDod

As Claymore says. Yes it could be sold, but now at a lower price and with expenditure of effort and with delay.

Nothing "immoral" about wanting contracts to be ... well contracts....
- Channel: Conveyancing Questions
31-03-2020, 17:16 PM

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