IVA Final Payment Accepted but...?

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justinewool
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by justinewool » Sun May 27, 2018 6:38 pm
Hi,
My parents had their final payment accepted in February and had sent the cheque. They were told it would take up to 6 months to finalise. They wish to sell their property but can they start the ball rolling now prior to having the certificate so that it cuts the waiting time of finding a buyer?
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kallis3
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by kallis3 » Sun May 27, 2018 10:20 pm
Hi,

Make sure the restriction has been removed from the property, otherwise I don't see any problems.
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luluj
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by luluj » Sun May 27, 2018 11:50 pm
Until the iva certificate is issued in theory they are still bound by the terms of the iva- if it were me I would contact the IP and seek their support for conclusion as it is now hindering the sale of the property. The restriction to sell needs to be lifted at the same time the completion certificate is issued.
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Foggy
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by Foggy » Sun Jun 03, 2018 8:59 am
You can start the ball rolling but do not proceed with a transaction until you have the completion certificate and confirmation that any restriction has been lifted. With the restriction in place, potential purchasers could be scared off and you could have the embarrassment of having to explain the problem ( and the IVA).
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