How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Buachaill Your Own Question
Buachaill, Barrister
Category: Law
Satisfied Customers: 10527
Experience:  Barrister 17 years experience
Type Your Law Question Here...
Buachaill is online now

I want to purchase a property but it has a CPO on it can I

Resolved Question:

I want to purchase a property but it has a CPO on it can I still purchase it
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.
1. Dear Winston, you can still purchase a property on whcih there is a CPO in place. However, your ownership is only going to last until the CPO is finalised and the property appropriated at whatever price has been agreed. Accordingly, there is little point in purchasing a property subject to a CPO unless you are getting it for a price which is less than the CPO price, when transaction costs are added into the equation. Otherwise, you will only show a loss on the deal. Accordingly, I would only advise you to purchase the CPO property if you are happy with the property being immediately taken from you and if you will show a profit on the transaction. It is not possible to avoid the expropriation of the property by the CPO by you buying the property before the CPO becomes effective.
Expert:  Buachaill replied 1 year ago.
2. Please Rate the answer as unless you Rate the Answer your Expert will receive no payment for answering your Question.
Buachaill and 2 other Law Specialists are ready to help you

Related Law Questions