After F & F offer accepted it now appears we may have equity. Will they be entitled to any ?

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AmyW128

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Post by AmyW128 » Tue Jun 23, 2015 4:34 pm
We made a full and final settlement offer and it was accepted and the money cleared on 15 June. It now appears that we may need to sell our house if we have any equity in the property will they be entitled to any of this money?
 
 

Foggy

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Post by Foggy » Tue Jun 23, 2015 4:48 pm
If the sale completes before you get the completion certificate they could be entitled to the proceeds as many full and final settlements are not final, but are merely a suspension of payments pending completion.

Hopefully you are with one of the firms that issue certificates promptly.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Thu Jun 25, 2015 9:26 am
Not if you can hang on until after Completion as Foggy says. At the moment they have accepted your offer but if you sell the house before you get your hands on the CC it changes everything...Keep the pressure on your IP to close quickly.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Adam Davies

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Post by Adam Davies » Thu Jun 25, 2015 11:13 am
Hi
Try to hang on, as others have said, until you receive your completion certificate. Until then you are obliged to inform your IP of any windfalls

Regards
Andam Davies
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