I have agreed to sell my property to a couple who are selling their property to down size. They had their own building company that has now folded and I have found out that they are owed a considerable amount of money, hence the close of business.
To cut a long story short they are now asking a friend to take out a buy to let mortgage to make up the short fall on our asking price. My estate agent believes this is perfectly okay as the buyers will in 8-10 months have the money to purchase the house off their friend when administrators have paid them the money they are owed.
My question is should i be concerned? I have informed my solicitor of the situation and am awaiting her advice too.
I am also nearing completion on purchasing my new house and am getting worried that all will fall through and I'll be left out of pocket after all the searches etc.
Any advice will be welcome
To cut a long story short they are now asking a friend to take out a buy to let mortgage to make up the short fall on our asking price. My estate agent believes this is perfectly okay as the buyers will in 8-10 months have the money to purchase the house off their friend when administrators have paid them the money they are owed.
My question is should i be concerned? I have informed my solicitor of the situation and am awaiting her advice too.
I am also nearing completion on purchasing my new house and am getting worried that all will fall through and I'll be left out of pocket after all the searches etc.
Any advice will be welcome
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