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Conveyancing Challenges. Short Lease Hold. Sales by Receiver.

by Aug 26, 2019News, News, Real Life Stories0 comments

We find that our commercial clients have a more risk taking character and can see the bargain in a deal. Unfortunately when it comes to a bargain in conveyancing terms it generally means that there is a sting in the tail.

At Griffins however we like a challenge and the more convoluted the title issue or the problem the more intrigued we become.

In a recent incidence a purchaser was getting a great price for a property, however the property only had thirty-five years left to run on its Lease and the lending institution from which they were getting funds were refusing to lend money to purchase. Our Client, having worked with us for years committed to the purchase anyway and then turned to us to fix the problem! Not recommended indeed but Griffins were in a position to provide a legal opinion to the bank’s Solicitors to reassure that our Client had the ability to acquire the freehold interest by way of court application and submit all relevant proofs so that the Banks Solicitors could be reassured and transaction could proceed. Our application is pending before the Circuit Court and should be dealt with before the end of the year. Our Client secured a great bargain with regards to the acquisition of the property and the title will be rectified within a period of six months.

Sales by Receivers or Banks are also more challenging as the Banks solicitors do not have as much knowledge about the property as an owner would and therefore cannot provide as much assistance in the sale process and present the title to a purchaser on the basis of “you take it warts and all”. This process results in the purchaser and their solicitor having to carry out investigations on behalf of the client over and above what would be the norm in a regular property transaction. This is further amplified when the transaction is place on a online auction platform such as Bidx when the time for your solicitor is further shortened by a looming auction date. Here at Griffins we have seen, and been in a position to find solutions, for most conveyancing problems and allow the Client to go forth and bid in confidence having been advised on the risks being bought into, the manner in which the issues will be tended to post completion and most importantly the costs of carrying out the remedial works needed. It is this forward thinking that has the Conveyancing Department at Griffin Solicitors growing in their client base daily.

Should you like to discuss any problem titles please do not hesitate to give us at Griffin Solicitors a call.

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