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House purchase & trustee in bankruptcy

  • Easteregg
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20 Sep 12 #356988 by Easteregg
Topic started by Easteregg
Please can anyone advise me. I am currently purhasing a house alone, I have had it surveyed and the surveyor found a problem with damp. He advised me to get quotes, and then ask the vendor to reduce the purchase price to an agreeable amount between us. I have done this and await a response. In the meantime I have contacted my solicitor who is dealing with the house purchase regarding some internal alterations which have been done. She has replied stating that she will ask the vendors'' solicitors the questions, but doubts she will get a good response as the vendor is selling as a trustee in bankruptcy. What does this mean, and what does it mean to me as a buyer? Thank you so much in advance for any help given. :unsure:

  • LittleMrMike
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21 Sep 12 #357039 by LittleMrMike
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Well, I suppose it could mean one of two things.

Either that the trustee personally does not know the property and therefore can''t answer the questions.

Or it could just mean that the trustee, as the seller, doesn''t want to reduce the price.

LMM

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21 Sep 12 #357041 by Easteregg
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Thank you so much, so does that mean that the lady living in the house doesn''t now own it, that it is part of her bankruptcy, and therefore the court dealing with that will not reduce the price. She is offering to get her family members who she claims are builders to do some of the work, but I was wary of that as there are builders, and there are builders if you see what I mean. I want this work doing correctly with a guarantee.

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21 Sep 12 #357047 by LittleMrMike
Reply from LittleMrMike
The point is, as I think you recognise, that if the owner of the house ( whoever it happens to be ) is bankrupt, then the seller is the trustee and not the person who happens to live there. So any negotiations must be with the trustee, not with the occupier.

LMM

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21 Sep 12 #357242 by Easteregg
Reply from Easteregg
Thank you so much for your advice, it is very much appreciated.

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