Unexpected restriction on title
Hi,
Offer accepted on a house that had been on and off the market for 2 years in late February, seller was planning to find next property and do chain purchase, but offered to go chain free. I did my survey and solicitors raised enquiries. 9 weeks into the process the seller and their solicitor discovered a charge on the title that should’ve been removed many years ago. Before this came up, most enquiries were resolved and I thought exchange was imminent. The beneficiary of the charge is deceased and the charge must be removed before we can exchange.
The seller now has to apply for probate and then the solicitors can apply to the land registry to have the charge removed. My solicitor and the estate agent won’t provide an estimate for how long this will take. My mortgage offer (4.44%) expires in September and I have no idea if it’s likely to take that long to solve.
I don’t know if I should cut my losses and withdraw from the purchase or just wait
EDIT: a letter of administration is being applied for instead of a grant of probate