Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
We are currently looking to invest in our first BTL and are considering purchasing via auction a leasehold house (992 years to run) via auction.
The property has been repossessed and is being sold by the receiver without any “Guarantee of Title” I have been advised that this is not unusual for a repossessed property but can anyone advise as to the possible implications of this. The property also comes without any search reports (with insusfficient time until Auction to compete them) and with a stipulation to complete within 14 days of the hammer fall.
We are currently taking legal advice but have to make a decision soon and legal wheels can turn quite slowly, therefore any additional info/comments would be helpful and appreciated.
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