So, me and my fiance have been purchasing his fathers house, as a gift of deed, for less than a third of the property price! (Lucky we know)! Basically its £170k and we're buying it for £50k, because he doesn't want it no more and cant afford the upkeep, and as my fiance is the only child, we said we'd take it off his hands for some cash.
Anyways we've been going through the motions for 18months and its a joke now. The valuer came around and told the mortgage company to put a rentention on the figure of 10k until both me and my partner got some odd jobs sorted out.
My question is this. How can a rentention be put in force against the seller, if it is us that are getting the work done? Surely it can only be put in place if we were getting it remortgaged? They're gonna keep 10k from the 50k until we've fixed it up! Its worth 3x the amount anyways!!!! Someone PLEASE PLEASE help us cos we're going out of our minds!!!!!
2007-12-29
01:52:35
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6 answers
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asked by
pinkangel
2
in
Renting & Real Estate