Photos and updates of the work we have put in to developing our Victorian home

Tuesday, April 26, 2005

The latest...

Since agreeing to proceed with the sale with the land behind the property being unfettered, the TP1 is being drafted in accordance with what we have agreed. This hasn't been a smooth process because the vendor's solicitor didn't tell my solicitor the her plans for the land at the beginning. Instead, they were uncommunicative almost to the point of being obstructive and my solicitor has had to try and draft this form in the dark. He has done it on a trial and error basis, submitting the form and waiting for it to be returned to ammend it. As a result, its' drafting has taken longer than he had expected. If the vendor's solicitors had given my solicitors a copy of the TP1 form that they had drafted for the retained land, we would have been so much more informed as to what rights to place on the TP1 form for our land.
Because of all of this, there has been another delay.

As a result the vendor has said that if the sale doesn't go through before the end of April, she will be looking to me to reimburse her for next months mortgage repayment and also the increase in her soilicitors fees.

As you can imagine, after everything, i would rather pull out of the sale than give her more money.

Fortunately, my solicitor has called me to say that he has completed the TP1 form and that is has been approved by the vendor's solicitors, so all that needs to happen now is for me to sign and exchange and for them to 'draw down' my mortgage loan from my lender ready for completion.

0 Comments:

Post a Comment

<< Home