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Posted: Tue Aug 19, 2014 5:01 pm
by kayleigh
I am with GT and understand that if I sell my property before the CC is issued that any equity is classed as windfall and included in the IVA. I have been told that my CC is due to be issued late October, therefore is it possible to put the house on the market and wait for the CC before exchanging contracts.
Posted: Tue Aug 19, 2014 5:23 pm
by Foggy
I don't see any reason why not. However, some potential buyers will get skittish if you delay, and if they get as far as searches (which they will do before Exchange) the restriction will show up and their solicitors will get jumpy too.
Posted: Tue Aug 19, 2014 6:40 pm
by Adam Davies
Hi
Can't see a problem as long as there is no delay in receiving completion certificate or GT removing the restriction at the land registry
Good Luck
Regards
Posted: Wed Aug 20, 2014 5:25 am
by luluj
How longs a piece of string ? Is is fair to keep your buyers waiting when it is unknown how long it will be before your certificate is received ... how would you feel if you were kept waiting ... buying a house is one of the most stressful times for people and I personally would wait until certificate received before selling.
Also if you require a mortgage for your next property you may find it difficult to source one whilst the iva remains on record.
This is just my opinion though !