Selling a property to avoid repossession
Mr R was made redundant and ran into financial difficulties. Because he was unable to pay his mortgage, his lender instigated court proceedings to repossess his home, then just before the final court hearing Mr R found a buyer for his property.
What we did
We issued a contract for the sale of the property to the buyer's solicitor via email within three hours of being instructed by Mr R. We then dealt with all matters proactively, mainly by email, to ensure that we proceeded as quickly as possible. We exchanged contracts within four working days, and Mr R's mortgage lender allowed the sale to proceed to the buyer and stopped the repossession.
How did it help?
Because we avoided the repossession of the property, Mr R managed to obtain a better price for his property, he avoided having court action against him, and if the lender had sold the property this may have been at a lesser price, meaning Mr R would still have owed them the shortfall.
Who handled the case?
This case was handled by partner Karen Stewart, who deals with a wide range of conveyancing matters, dealing with transactional sale and purchase matters of both leasehold and freehold property matters.
Client testimonial
"Without Access Legal from Shoosmiths acting so quickly and proactively I'd have ended up facing the financial issues for years to come. Thank you for your personal attention to this and for all the help you gave me."
