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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10527
Experience:  Barrister 17 years experience
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I want to purchase a property but it has a CPO on it can I

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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.
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