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Posted: Sat Apr 12, 2014 11:11 am
by tracyh
Our IVA was settled last Sept in a variation meeting that agreed on payments to date.
I am still waiting for completion certificate and want to sell the house as it has no equity and we can't afford it.
How do I go about selling it if I don't have the completion cert?
Thanks
Posted: Sat Apr 12, 2014 4:49 pm
by Michael Peoples
You can sell but ensure your IP removes any restriction against the property. Do it quickly though as if there is a shortfall after the sale it could be included within the IVA.
Posted: Sat Apr 12, 2014 5:18 pm
by Adam Davies
Hi
Great advice by Michael
Regards
Posted: Mon Apr 14, 2014 12:23 am
by MelanieGiles
And that would cause extreme difficulties for your IP and potentially yourself, if there were to be a shortfall included in the IVA - as presumably all funds have now been distributed? You would find that you would have to pay more money into the IVA to deal with that debt.
Is selling the right solution, or could you try and negotiate a reduction in mortgage payments with the lender? Is your mortgage interest only, or repayment?