Comments on: Buying Repossessed Houses

By: Zoe

Zoe — Tue, 28 Jun 2011 13:12:55 +0000

Hi guys

A little help is needed I feel so I hope you have the time to put hand to board??

I have found a repo and offered the full asking price which has not been accepted? But was told by the estate agent to complete searches and valuation which we have now payed for. It was only tonight that I was told that the full advert and price for the house will be in tommorrows paper. I understand that they have to be seen to get the best price for the property but why am I being told to put things in place when my offer has not even been offered to the bank?

By: Amy Judson

Amy Judson — Sat, 18 Jun 2011 05:04:45 +0000

I’ve just had an awful time trying to buy a repossession. I’ve now had to pull out as the parties involved were so difficult to deal with and were unable to provide simple information about this 3 yr old property. Beware – the legal aspect of buying a repo can be complex and expensive.

By: sarah

sarah — Sun, 12 Jun 2011 01:05:30 +0000

I have just bought a reposession and the bank has said they have no intention on moving any of the previous owners stuff. Do i own everything in that house and can get rid as i am a bit dubious about where i stand? The estate agents said i can get rid but i’m still unsure.

By: Simon

Simon — Thu, 17 Feb 2011 05:37:59 +0000

If you looking to purchase an investment property, fill in this form:

http://houserepossession.co.uk/auction-properties-list

I am looking for a below market value property (BMV) investment.

I got a call 1 day after filling in the form and the property investment specialist was able to show me some terrific BMV properties.

It looks like I will be purchasing 1 of these properties and the search for a great property investment is over.

By: Ceire

Ceire — Mon, 31 Jan 2011 13:07:23 +0000

I am looking to sell my house, and might end up buying a repo, how long do i have to complete/buy the house, incase my other house doesnt sell in time. I hope this makes sense.

Ceire

By: Eddie

Eddie — Tue, 27 Apr 2010 18:50:25 +0000

I have just viewed a property that has been repossessed. When we went inside the previous owner has left numerous items behind, furniture, rcords and musical instruments, he has also left his car behind on the drive, it doesn’t appear to have been used.

The repossession company have told me that they have no intention of moving it and it will be up to the purchaser to get rid of it. I am a bit concerned about the legality of any prospective purchaser getting rid of these items. Where would we stand if the owner came back to claim the property and his car?

By: Neil

Neil — Mon, 19 Apr 2010 13:05:20 +0000

Tina,

The repo company are duty bound to obtain the best possible price for the property – so i would say that they are not honouring this duty…. bear in mind that the person who has been repossesed could potentially sue the repo company if they did not get the highest possible price, as it would leave them having to pay back more debt than would have been expected if they took your offer.

By: TINA

TINA — Thu, 04 Mar 2010 19:27:49 +0000

hi i have put an offer in for a property for the asking price and it as been declined, however they have accepted a lower offer from the first people whom viewed, are the repossion company allowed to do this.

By: Michael Simpson

Michael Simpson — Fri, 11 Dec 2009 18:08:02 +0000

I just found a terrific discussion on repossessed houses for sale:

http://forums.moneysavingexpert.com/showthread.html?t=396185

By: Housing Market Opportunities

Housing Market Opportunities — Wed, 28 Oct 2009 12:40:01 +0000

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