My husband and i went bankrupt on 20 July 09, we were contacted by the OR last month to see if we wished to purchase the BI in our home, if so to provide a valuation and mortgage statement.
This has been done and I have now received a letter (not my husband as yet) asking if I wished to proceed in buying the BI at £1 plus £211 by cheque (always thought this strange seeing as bankrupts aren't allowed cheque books lol)..which is fantastic and so quick too, less than 3 months into BR
My queries if anyone can advise are:-....the letter also asked me to send details of the solicitors who will act for me if not already provided???...is it because they are giving us the opportunity straight away to buy back the interest rather than a 3rd party?
Plus there is no where on the letter asking for a £1 cheque for my husband??
The £211 pays for the OR's solicitor not yours, it is not essential to have a solicitor but is helpfull, if you feel confident doing yourself you just send it back saying as much
Best to speak to the OR and get both yours and your husbands done at the same time then you only have to pay the £211 once
It is important to use a solicitor when purchasing a house to ensure that there aren't any suprises re the property - however in this peculiar circumstance you already live there, know all about it and had the relevant searches done when hyou purchased it origionally.
Save yourself some money and pay the £211 for the OR's legal costs and £1 each for the BI
Paul or anyone else with advice, does this apply to sole owners too? my partner is in the process of buying BI and is representing himself as no way could we afford a solicitor we had already scrounged the £465 for the BI from family. He's sent off the TR1 form and has received a letter asking if he is ready to complete as the OR has executed the deed but we havent done anything other than send the TR1 form back, is it just a case of replyng "yes I am ready to complete" or is there something else he should have done? he knows he has to inform the mortgage company and land registry but cant help thinking hes missing something as it has been straight forward up until now and was told it would be very complicated.thanks very much and sorry to hijack this topic.
Edited by - givemestrength on 09 October 2009 14:39:02
Thank you Paul........we took your advice, have sent the cheques off to the OR....................what happens next? Do I need to inform the Land Registry etc. Any advice gratefully received :-)
Letter to buy BI already :-) advice pls
Posted - 08 October 2009 : 18:44:51
