Ihave been lead to believe that the sellers solicitor would have been aware of the 2nd charge and he should have notified mine is this not correct
2006-08-21 17:07:04 · 5 answers · asked by mary b 1 in Business & Finance ➔ Renting & Real Estate
If your solicitor has made enquiries for financial disclosure, (and this should have shown up pre-exchange, ) and the other solicitor or the vendor witheld this information then, fair enough, it's the vendors fault...
Ultimately though a thorough check should have shown this up. I used to be an estate agent and we would disclose any charges or covenants that we were aware of prior even to offer.
2006-08-21 18:04:51 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes that is correct, however this would show up on the title search done by your lawyer prior to closing. Not sure where you are in this transaction but the bottom line is the Vendor owes the $ -not you Good Luck
2006-08-22 21:55:08 · answer #2 · answered by nature4me 3 · 0⤊ 0⤋
A second charge is an additional mortgage or secured loan. Its means if the property is repossessed the first charge (mortgage) gets paid off first and the second (if there is any money left) gets paid off second. Charges are notifications of loans and mortgages secured on the property.
2006-08-21 22:50:39 · answer #3 · answered by MSMORTGAGE 3 · 0⤊ 0⤋
Lawyers will tell u that u didn't get hurt . then they'll tell u to move on with your life, then they have covered their butts. Then they r free to take your money if you want them to take your case.
I know what u r going thru it happened to me in 2003. Then the houses relly took off. I had sold my house and since I had know house I lost out, and still suffer for it.
GOOD LUCK
2006-08-21 18:54:51 · answer #4 · answered by mannmk7 2 · 0⤊ 0⤋
what exactly is a 2nd charge - not joking I really like to know?
2006-08-21 17:14:21 · answer #5 · answered by me 5 · 0⤊ 0⤋