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Offer to sell - time limit

I have made an offer to buy a property that happens to be a reposession. The seller has now came back after accepting my offer with a offer to sell the property for the price I offered but with a strict time limit (noon on the 24 June - entry date in July). I am comfortable with the entry date as it matches the exit date of the property I have sold, but the completion date worries me. I have yet to complete missives on my property and don't think I will until after the 24th. Is it possible for the completion date to be extended? I thought the seller had to place an advert in a local paper to advise that an offer had been made and invite and further offers. The seller doing this would probably give me enough time to push through the missives on my sale.

Asked on Jun 18 2010, General in Bathgate | Report content

Answers (1)

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  • A Public notice is often required when selling reposessed property, but a lot of lenders to not want attention drawen and the negative publicity that they have reposessed a house and will not put out a public notice. With regards to deadlines in my experience they try and stick to these and i have even had them pull out and refuse to deal with the buyer, but speak to them and ask the question,

    Answered on Jun 19 2010, Report content

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