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Deed pending
Posted: 18 Mar 2024 01:31
by Irini
Hi everyone!
I recently saw a property listed that looked very interesting. However, the listing states:
The property doesn’t have a Title Deed yet and is expected to be issued in 2025
Does this mean I would be purchasing a property without a deed, or would I be protected in some way?
Thank you
Re: Deed pending
Posted: 18 Mar 2024 08:25
by Nigel Howarth
Hi Irini
Yes - you would be buying a property without its all-important Title Deed. You can't fully protect yourself but you could hold back a decent proportion of the sale price until a 'clean' Title Deed has been issued.
Do you know if the planning department has inspected the property and issued a 'Completion Certificate'. (This certificate confirms that the property was built according to the authorised plans, permits and permissions issued for its construction.) That would give you some protection.
Regards,
Re: Deed pending
Posted: 20 Mar 2024 00:14
by Irini
Nigel Howarth wrote: 18 Mar 2024 08:25
Hi Irini
Yes - you would be buying a property without its all-important Title Deed. You can't fully protect yourself but you could hold back a decent proportion of the sale price until a 'clean' Title Deed has been issued.
Do you know if the planning department has inspected the property and issued a 'Completion Certificate'. (This certificate confirms that the property was built according to the authorised plans, permits and permissions issued for its construction.) That would give you some protection.
Regards,
Thanks Nigel. Your feedback is very helpful and I didn't think such a property would be a safe bet. I do not know if a Completion Certificate has been issued. However, I'd rather avoid problems altogether (when I can).