rockinrev

things have panned out fine. i have bought the repossession house and i get the keys on friday. the bank / sellers extended the 28 day period ,and gave me another week to complete which was a good job as the other house i was selling was holding up the payment as i was in a chain of 7 people and believe me to get seven people all ready to move with all the correct checks beforehand in is some feat in it self . it has been a nightmare selling one house and buying 2 ,one a repo which was not the easiest way to go about things .ive learnt a lot ! but has eventually panned out with a lot of prayer !!!! the bank was happy to extend the payment date as long as i could give them a firm future date and the certainty of payment forthcoming. the solicitor nogotiating with them helped. thanks for all who wrote in. i never lost my deposit or any of the other scare stories ive heard . happy ending

yes i had read them articles and yes ive got conveyancer quotes all lined up but just asking the question what if ? if i go over the 28 days ?

maybe readers have mis interpreted my post I have 28 days to pay. I have just won the bid and am about to get a conveyance. I haven't run out of time or anything. im asking is it enough time to get sorted with conveyance and releasing the money within the 28 days if not then ........ is there leneincy or strictly 28 days and no more how do the banks usually play it ? I have sold a large house bought myself a 3 bed and as it is still about 25 - 28 days before I get all moved in .and meanwhile have used extra money coming from this sale to also win a repo bid. which will need the money released within 28 days ! phew !! so its a close call. I have not signed or seen a contract as of yet for the house I have won bid on . they still advertise for 7 days as a rule.even though im told my bids the winner ?

maybe readers have mis interpreted my post I have 28 days to pay. I have just won the bid and am about to get a conveyance. I haven't run out of time or anything. im asking is it enough time to get sorted with conveyance and releasing the money within the 28 days if not then ........ is there leneincy or strictly 28 days and no more how do the banks usually play it ? I have sold a large house bought myself a 3 bed and as it is still about 25 - 28 days before I get all moved in .and meanwhile have used extra money coming from this sale to also win a repo bid. which will need the money released within 28 days ! phew !! so its a close call. I have not signed or seen a contract as of yet for the house I have won bid on . they still advertise for 7 days as a rule.even though im told my bids the winner ?

well maybe but I am at were I am so criticism won`t help or change the situation . some information on how banks work with this would help and how lenient or not they are from anyone with past experience would be more helpful than criticism!!

I have won a reposesion bid and have 28 days to pay and im about to get conveyancing done. 1. when does the[] 28 days ]the bank states to complete start .from ? is it upon me winning the bid? 2. after the seven days after my bid they advertise it what if it has not been completed by conveyance within these 28 days ?

THANKS DEMOCLES my thinking is to buy a house for my son (he has a place then for my grand children) i would not need a deposit and any rent would`nt be enough to worry the tax man .last thing i want would be to get chased from the taxman ;-)

thats not really an answer

my question is ,is it illegal to not take a deposit or use a depos scheme if you choose to rent a house out to your son or daughter? will the rules still apply? im thinking of buying a house (cash) and my son will rent it off me . also can i set the amount of rent i wish him to pay ? maybe just a ppepercorn rent .