Bank owned property. Not flexible for deals or?

ShadowHearth

Hey again gang. I need some opinion on the house I was checking out.

I got prepared for playing cat and mouse while checking houses, but it all felt apart on first viewing lol.

We checked a house which was repossessed by bank and priced for sale 80k. We really loved it, but misses was jumping around like lunatic, she just gave away our " play cool " bit... Damn woman

He suggested giving an offer to bank 75k. As ut would be good deal for bank, knowing we already approved for mortgage.

He came back to me and said bank wants 80k. End of story...

Are banks really so hard to deal with or is it just an attempt at chancing us?

House is lovely and is 80k is okay price for us, but that 5k would be great for us.


So anyway, any point in waiting? Or bank will just roll a hard ball?

Tigger

offer 70k and wait they'll come round buy the end of the month

monkeybutter

Play hard ball, it's probably the biggest financial deal you will ever be part of and each 5 k could mean 10k saved over the life of the mortage

Offer 70.

They are a bank though, not an actual person who really needs to sell, so they may not respond at all to your hard balling. The person who the estate agent is dealing with will still get paid either way, and it's not as if they actually need the cash any more and if they make a loss, we'll bail em out.

ShadowHearth

cheers lads. That estate agent was pret good, specially after reading thread here about them... on 95k property, he just told that offers of 70 will take it, witouth me even trying to make any offers, and do a bull**** dance.

He was prety sure that bank will go for this deal on monday, and today he got a reply that 80k and thats it.

So are banks really that hard balling now as they are soulless mashines, or there is something not right, as they turn down the offer 5k less with morgage approved?

i really do like that property, but i got anather one to look at. i arranged him to go again to two those properties and have a vgood look at it seriuoslly.

i dont know if i want to see ather properties, becouse these 2 are just plain perfect for us, unfortunatly estate agent knows that too

Tigger

he works for the bank right....

offer 70 and wait

Dymo

Banks don't care, your not dealing with an owner in the real sense, they have a bottom figure and are answerable to nobody.So I could see them holding out, whats another couple of months to them

Aprilmay

Dymo wrote: »

Banks don't care, your not dealing with an owner in the real sense, they have a bottom figure and are answerable to nobody.So I could see them holding out, whats another couple of months to them

Exactly and if the OP thinks its value and is holding out for a few months in the hope that the bank will take 10k off-if someone else comes in and buys it his wife will be doing a different kind of dance. In your words "We really loved it"!There's something to think about!

DublinDilbert

If you really want it, see if they would meet half way on the price, the saving would cover your solicitor fee's etc...

I know it's tempting to hold out, but just don't hold out too long, if it's the right place & location, probably worth the extra 5k.

ShadowHearth

Cheers lads. You proved wat I was thinking. Bank is souless machine and dealing with it hard.

Even estate agent was droping prices of houses from 95k to 70k, but when it was coming to bank property: no go.

Plan is: we got two properties.

I have arranged meeting On tue, to check those two again. Have a notebook and check everything and what spending properties involve.

I like that 80k one, but I am kind of upset bank did not Even droped 5k...

Btw I think only reason that property did not sell yet, because add is horrible. Pictures are just awefull, because when we walked in To property we were: woooow.

Duckjob

Hey again gang. I need some opinion on the house I was checking out.

I got prepared for playing cat and mouse while checking houses, but it all felt apart on first viewing lol.

We checked a house which was repossessed by bank and priced for sale 80k. We really loved it, but misses was jumping around like lunatic, she just gave away our " play cool " bit... Damn woman

He suggested giving an offer to bank 75k. As ut would be good deal for bank, knowing we already approved for mortgage.

He came back to me and said bank wants 80k. End of story...

Are banks really so hard to deal with or is it just an attempt at chancing us?

House is lovely and is 80k is okay price for us, but that 5k would be great for us.


So anyway, any point in waiting? Or bank will just roll a hard ball?

The solution here is quite simple - Shoot the missus.

Seriously, if these guys get a sniff of you getting emotionally attached to the property they'll take you for every extra euro they can wring out of you - I wouldn't be surprised if Mr P.Hantom turns up here with a last minute bid of €90k.

ShadowHearth

well. i was out of town for bank holidays, when i checked now, the add is gone and marked as sold in favorites...

weird, as me and estate agent arranged on friday to have a second look at that property... if he sold it, i presume he would atleast contact me :rolleyes:


anyway will have a look at ather property tuesday now.

Aprilmay

ShadowHearth wrote: »

well. i was out of town for bank holidays, when i checked now, the add is gone and marked as sold in favorites...

weird, as me and estate agent arranged on friday to have a second look at that property... if he sold it, i presume he would atleast contact me :rolleyes:


anyway will have a look at ather property tuesday now.

Estate agent has no loyalty to you and you made an offer 5K under the price he probably told the next viewers who were equally impressed and may have really loved it too about your offer and they offered the full amount. I think the lesson is you can wait but if you really love something 5k shouldn't hold you back- hopefully you find something equally as good and the missus doesn't give you too much grief over losing it.

Duckjob

ShadowHearth wrote: »

well. i was out of town for bank holidays, when i checked now, the add is gone and marked as sold in favorites...

weird, as me and estate agent arranged on friday to have a second look at that property... if he sold it, i presume he would atleast contact me :rolleyes:


anyway will have a look at ather property tuesday now.

Try not to worry. If the other buyer is borrowing to buy, there's a very reasonable chance they'll hit a financing problem with their lender and the house will go back for sale.

Even if they don't and the house goes - just remember, the next perfect house is always waiting just around the corner.

Best of luck with it.

ShadowHearth

Thanks lads. Misses is okay with it, not the end of the world. There are more houses out there.

We got time, so maybe we will find something even better.

There are 2 houses, but they are a bit further away (20 km ) from work, it's not bad, i know people driving 70km++ to work, but problem is I will need to sell my cars and buy something sensible, as good part of the road is not main road. Houses are lovely thought, Cousy old cotages with enough land even for a racing track...

Anyway going Tuesday to see anather 2 houses. Will see how it will go.

The Good Agent

How have you gotten on since ShadowHearth, I'm eagerly awaiting an update on the situation.

www.thegoodagent.ie

ShadowHearth

The Good Agent wrote: »

How have you gotten on since ShadowHearth, I'm eagerly awaiting an update on the situation.

www.thegoodagent.ie

actuolly very well m8. i payed deposit today for our home!

the fella who was our estate agent in fact had to be same person who deos evaluation. So he did it for free!

got all documantation, insurance, soliciters details, evaluation report to bank today too! ( damn busy day )

Got very lucky with Estate agent and bank. very helpfull from bouth sides, and really really went in to alot of hassel to make it as best as possible.

so far estate agent and bank gets huge thumbs up from me. When its all over and if there wount be any feck ups, i will have a bottle of hennesy for estate agent and a hamper for a lady in bank.