# In the middle of buying or at least we think we are0!!!!



## Huw (Jul 13, 2015)

We think we're in the middle of purchasing a property in Tavira. We have now discovered that its a bank repossession and have been told that there is no deposit needed as you pay the full price on completion. 
Is this the norm, as taking ages to process the offer seems to be!!!!


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## travelling-man (Jun 17, 2011)

What does your lawyer tell you about it?


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## Huw (Jul 13, 2015)

I was just trying to get the opinion of people that already been there and done it.


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## BodgieMcBodge (Mar 8, 2013)

Do you have/ will you have a promissory contract which both the vendor and buyer have signed stating exactly what you are buying/selling and prices/ dates etc? You may find that as a “bank reprosession” that the seller’s paperwork was not quite to the point of selling because - until a buyer was interested - it was not worth spending the time/money sorting it out and when they have sorted it out they want it gone asap hence the no deposit sale. Your lawyer should be advising you on the process and progress. For a fuller explanation of what may be happening contact one of the estate agents who deal with these sales as they far more experience them anyone else as they only get paid if a sale gets completed. I can PM you details of a British one if you need it?


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## Huw (Jul 13, 2015)

Thanks for that. Id appreciate the persons details, my email address is////SNIP//////


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## BodgieMcBodge (Mar 8, 2013)

Better not put your email address on a public forum. As you have 5+ postings i can "Private Message" the details to you.


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## TonyJ1 (May 20, 2014)

Have recently helped somebody go through this process - but banks are slow. If you have communication from the bank that they have accepted your offer (ensure that it is at least from a manager level), they will not go back on it - but best with a deposit.


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## Huw (Jul 13, 2015)

Believe it or not our solicitor has emailed this evening t say that the bank has accepted our offer. This one was an apartment that we're looking to let. We are however thinking of buying a place back from the coast with some land for us to retire to. 
Id appreciate any help with that
Regards
Huw


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