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| Krissi |
Posted - 10 May 2012 : 13:28:59
I’m sure everyone has heard of “professional shoppers” in the normal consumer industry; however, I am wondering if this is something that happens in bankruptcy.
To illustrate : if someone is made bankrupt (but not their partner) and they have assets held jointly with the non-bankrupt, i.e. property, and the 3-year period following the BO is nearing its end, is it possible that the OR/Trustee can arrange for someone to purchase the bankrupt’s property, without the need for Court intervention and without (obviously!) the bankrupt and partner actually knowing this?
There is finally a buyer for my property, but there are certain aspects of the sale which do not follow, what I would call, the “norm” and in my previous working experiences of both estate agency and conveyancing, there appear to be a number of inconsistencies, especially in relation to the usual matters regarding the buyer. It is these irregularities which lead me to wonder if a “professional shopper” has been brought in to assist in settling the matter before the end of the 3-year period.
I may, of course, be being incredibly stupid but would be interested to know if this is just such a practice.
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| 5 L A T E S T R E P L I E S (Newest First) |
| year 2029 |
Posted - 30 May 2012 : 16:12:56
Hi, can you say how this buyer came to hear of your property being for sale?
Were you actively advertising your property for sale?
As has been previously said, the OR/trustee would offer it to you first.
This was one of the first questions I asked OR?trustee, as I didn't want an unknown third party buyin the BI in my home.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
| Krissi |
Posted - 30 May 2012 : 16:08:52
I thought this one had "dropped off the system"! |
| Krissi |
Posted - 30 May 2012 : 16:03:44
The buyer, who does not live in the UK (no problem with that, I guess), is supposed to by buying the property for his brother, who does live here - well, I think he does anyway! The brother and his wife and his father came to visit the property earlier this year and it was some few weeks before they decided to make an offer which, when they did, was very low and which was unacceptable. However, some few weeks later, they made a revised offer and I was “advised” by the Trustee that we had to accept this.
Whilst all of this, in the main, is relatively straightforward, I am somewhat concerned (although perhaps I shouldn’t be!) and certainly surprised that it is now some six weeks or more since the offer was made and accepted and although Solicitors are now instructed, there has been no indication that the buyer will be arranging for a survey to be carried out. I am aware that although there is no legal requirement for a survey to be done out unless the property is being purchased with the assistance of a mortgage, I would have thought that even with private funding, a buyer would want to do this, in order to protect his own finances and assets, especially given that when the brother/wife/father came to view the property, the father was very critical of its condition and what would need to be done if they did decide to buy.
Also, in my experience, most prospective buyers would want to arrange to visit the property again – possibly more than once prior to completion – to see what they would personally want to do.
I’m not “getting” at anything and, of course, I could be making something out of nothing but, to me, it doesn’t make any sense for prospective buyers to make an offer and then do nothing. So far as the Trustee is concerned, he was aware that we were unable to buy my share back, so hence the reason we were “advised” to accept the offer.
Since putting the original post on here, we have received the Contract and Transfer for signing, although a completion date has yet to be agreed. And, to date, no suggestion of a survey being done!
As I’ve already said, I may be making more out of the whole situation, but I don’t want to feel I’ve been “stitched up” in order that the Trustee can offload what is, in the great scheme of things from their viewpoint, probably quite a trivial matter!
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| debtinfo |
Posted - 10 May 2012 : 14:39:05
I have no idea what your getting at but the trustee would normally offer it to the bankrupt at the full market value before considering other offers |
| Niobe |
Posted - 10 May 2012 : 14:18:47
I've never heard of this - what are the inconsistencies?
Follow through
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