Buyer Beware

[GhengEnWu]

Be very careful buying repossession property

Today 9/11/10 i went sign contract as arranged at 3pm.
Id paid deposit on 9/10/10 and done everything by book, had mortgage in place 12/10/10.


At 2.45 pm agent called to say they had recieved a higher offer and was i prepared to match it, reluctantly i agreed, went through formalities with solicitor paid invoice £1,220.46 and went home
At 5pm was informed they had recieved higher offer which i wasnt in position to match.
Ohh very sorry we will need accept higher offer, even though the repossession company solicitor had verbally agreed to exchange contracts i lost my fees

Reason for delay in sale was repossession companies solicitor was on holiday
So just be careful

As they say once bitten twice shy i certainly wont buy repossed porperty again its too risky for me