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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11129
Experience:  30 years as a practising solicitor.
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My sons house has been repossessed on 12th february 2014, he

Resolved Question:

My sons house has been repossessed on 12th february 2014, he fell behind with payments due finacial problems.At prescent there has been a home report and it valued at 55thousand it now has been put on the market for offers over 45thousand my question is the halifax not legally bound to sell at the price of the home report.

Agnes walsh
Submitted: 3 years ago.
Category: Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

No, that is not correct. They are bound to market the property, advertising at least twice, and they have to achieve the best possible price. There is no law that says they have to sell at the price of the home report.

Happy to discuss further.

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