ChatterBank4 mins ago
Charge on Property house not sold
I have a charge on someones property for a large outstanding debt. They put the house on the market themselves before repossession (which was not granted as mortgage arrears were repaid). House remains unsold and in my opinion it is on the market for an unrealistic sum. Can I as the second charge (mortgage company first) force the sale and get an independent valuer to price the property?
Answers
1 to 4 of 4
Best Answer
No best answer has yet been selected by Prizefool. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
The straightforward bit:
You have the right to apply to the Chancery Chambers at the Royal Courts of Justice (or through one of the ten Chancery district registries) for an 'order for sale'. The court would, unless there are exceptional circumstances, normally grant such an order.
Getting a bit more complicated:
Here's the standard format that such an order would take:
http://www.justice.go...f_eps/pd73_apdx_a.pdf
You'll see that the order defines a minimum figure at which the sale must be made, but not a maximum one. However, under Section 8, you'll note that you have the right to further apply for a variation of the order. Such a variation might include a requirement for an independent valuation but you might need a good lawyer to argue your case in that respect!
Chris
You have the right to apply to the Chancery Chambers at the Royal Courts of Justice (or through one of the ten Chancery district registries) for an 'order for sale'. The court would, unless there are exceptional circumstances, normally grant such an order.
Getting a bit more complicated:
Here's the standard format that such an order would take:
http://www.justice.go...f_eps/pd73_apdx_a.pdf
You'll see that the order defines a minimum figure at which the sale must be made, but not a maximum one. However, under Section 8, you'll note that you have the right to further apply for a variation of the order. Such a variation might include a requirement for an independent valuation but you might need a good lawyer to argue your case in that respect!
Chris
Thanks for your reply.
If the application was simply for a 'basic' order for sale, you might well be able to do it yourself. But, with the additional complication of requiring a variation from the standard order, it might be best to approach a solicitor.
(I'm an 'amateur' here in the legal section. I know the theory in such civil matters but I've no experience of the practice. However my feeling is that the property owner, or his solicitor, would seek to contest any form of wording which restricted the maximum sale price of the property. You'd probably need a skilled lawyer to suggest a form of wording which the court would accept).
Chris
PS: If Jenna1978 (a practising solicitor) or Barmaid (a practising barrister) post on this thread, their advice should definitely take precedence over mine!
If the application was simply for a 'basic' order for sale, you might well be able to do it yourself. But, with the additional complication of requiring a variation from the standard order, it might be best to approach a solicitor.
(I'm an 'amateur' here in the legal section. I know the theory in such civil matters but I've no experience of the practice. However my feeling is that the property owner, or his solicitor, would seek to contest any form of wording which restricted the maximum sale price of the property. You'd probably need a skilled lawyer to suggest a form of wording which the court would accept).
Chris
PS: If Jenna1978 (a practising solicitor) or Barmaid (a practising barrister) post on this thread, their advice should definitely take precedence over mine!
1 to 4 of 4
