will a charging order affect the sale of my property?greenspun.com : LUSENET : Repossession : One Thread
I have accepted an offer on my house, however there is 2 charging orders on the house. There is more than enough equity in the property to pay this. Will this affect the sale of the house?
-- (firstname.lastname@example.org), October 20, 2004
What will happen is that any charges over the house, which will include the mortgage charge, will be taken from the proceeds of sale.
So work it out. Proceeds of sale less mortgage charge, less any other charges, less estate agents fees, less solicitors fees and disbursements = what you get - i.e. tha balance.
-- David J. Button (email@example.com), October 20, 2004.
will this have any affect on the person buying the property? Would a charging order put the buyer of purchasing the property?
-- (firstname.lastname@example.org), October 21, 2004.