How important is it to buy a property with title deeds?
we have found a lovely property but unfortunately it hasn't got the title deeds
many thanks for any information on this
How important is it to buy a property with title deeds?
we have found a lovely property but unfortunately it hasn't got the title deeds
many thanks for any information on this
Unfortunately, whoever holds/own the land deeds, own the property. Many sad tales of deed holders selling the property from the building "owner", without recourse! Look for another lovely property without big problems. Land deeds should be available - not mortgaged to a bank, roads and amenities should be in place and paid for, Land registration certificate should be available and seen!
No deeds generally means encumberance(s) on the property .... IE property doesn't comply to planning permissions building permits outstanding mortgage loans building not complying to plans.
No deeds also means the property should be considerably cheaper but if the buyer doesn't or can't bring the property up to spec with permits alterations etc etc etc then on a future resale the same problem exists and you would be selling making it much harder to market it and sell
without deeds too.
The choice and risk is yours
There is a thread on buying without deeds . If you search for it you will find it
@fhaggerty many thanks for the info
@Toon hi many thanks for your reply we have decided against buying the property we are going to buy with title deeds too risky buying without don't want to take that risk
Good decision imo . I know many do buy with deeds but it's not for us.