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How to buy a Property the banks have??

  • 06-03-2015 1:15pm
    #1
    Junior87
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi All,
    Myself and my wife have found a small cottage near us we would like to buy(with cash)
    However the property hasn't been used for a few years, we done a bit of research and were told the banks have it(apparently BOI)
    I have contacted the bank- however they say they don't sell property contact the estate agent.
    The property isn't listed by NAMA or any property site or local estate agents.

    Any advise on how to go about buying it- as it is sitting doing nothing??

    Regards
    Junior89
    Tagged:


Comments

  • #2
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    Junior87 wrote: »
    Hi All,
    Myself and my wife have found a small cottage near us we would like to buy(with cash)
    However the property hasn't been used for a few years, we done a bit of research and were told the banks have it(apparently BOI)
    I have contacted the bank- however they say they don't sell property contact the estate agent.
    The property isn't listed by NAMA or any property site or local estate agents.

    Any advise on how to go about buying it- as it is sitting doing nothing??

    Regards
    Junior89

    Im sorry but the banks only concern is to maximise their return or most likely minimise their losses on a repossessed property. They dont care you want to pay cash and will only use an agent to ensure they get the best price. Using an agent also ensures transparency.You will just have to wait for them to put it on the open market and they eventually will


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