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bankrupt Seller Effecting house, Need HELP

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  • bankrupt Seller Effecting house, Need HELP

    Hello

    I received some money after a bereavement, so with this I thought about buying another property, I Currently live in a 1 Bedroom flat and after looking around I found a nice one bedroom house, which would be a massive upgrade for me and I could buy with cash, then rent out my flat. which is mortgage free also.

    I viewed the house a few times, before putting in an offer, and the lady owner excepted, then contacted a Solicitor and gave him all the information, a little while later I received a letter from them saying the house was co-owned and the second party had been made bankrupt and they couldn't continue, until this was resolved. - The Deed were in two peoples names -

    I contacted the house seller, which she explained that she and her Ex, were both on the mortgage, but he was made bankrupt and she bought him out a year ago after they split up, but there seems to be a small issue that she need too sort out..

    Its now been about 6 weeks I have phoned a few times and asked if things have been sorted, and she keeps saying any time soon, she is just waiting for him to sign something, and the mortgage people to transfer everything over to here.

    This all seems very confusing, is this house a No go- ? or should I Wait..

  • #2
    Re: bankrupt Seller Effecting house, Need HELP

    I'm not experienced in this, but certainly can understand why you are so concerned about the dangers. If the property is co-owned with the name of the person who has just been declared bankrupt, wouldn't that mean a third party creditor now has a claim on it?

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