Repossessed Houses For Sale

Pac2015

What sites would you look on to see houses that have been repossessed and are up for sale?
I have looked on the NAMA & Allsop sites but to be honest they are really confusing sites and I have seen 2 x properties on daft.ie that I know are repossessed house and are selling for basically half the price.

Balmed Out

Repossessed houses don't sell for half price unless there's a reason. Could be planning issues, stripped interior etc etc. No specific site advertising repossessed houses just keep eye on my home and daft.

NIMAN

Remember that they may also be up for auction, and the price you are seeing is a reserve price.

I followed a couple of the Allsop auctions and houses regularly go for a lot more than the reserve.

shugy

Pac2015 wrote: »

What sites would you look on to see houses that have been repossessed and are up for sale?
I have looked on the NAMA & Allsop sites but to be honest they are really confusing sites and I have seen 2 x properties on daft.ie that I know are repossessed house and are selling for basically half the price.

the day of half price houses are over im afraid, more like 3/4 the price if your lucky

Pac2015

One was a bank repossession last week starting price was 145K for a 3 bed semi in Old Bawn within 2 days it had gone up by 65K the EA was emailing saying come see it so I said no thanks I am not getting into games with prices going up that much in two days plus we were not 100% on location in Old Bawn.

joe_six_cans

NIMAN wrote: »

Remember that they may also be up for auction, and the price you are seeing is a reserve price.

I followed a couple of the Allsop auctions and houses regularly go for a lot more than the reserve.

around 30% more unless its in the back of beyond , been to several allsop auctions , value is rarely any better than in a private sale IMO

myshirt

A lot of these properties sell for less than the build cost, or previous purchase price (whatever the scenario), because of a variety of reasons.

The general market, of course; increased onerous tax regime on property owners; the beneficial CGT scheme at the moment;etc etc, but I'll draw your attention to these:

These properties are typically sold warts and all. Receivers or banks generally know very little about these properties, their tax history, encumbrances to title that may emerge, or anything else. They'll give you what they do have, but nothing is warranted.

These properties are typically only available to cash buyers. Without complicating it, put simply banks are reluctant to lend on a warts and all property, particularly now that they've sharpened up their lending practices. You'd want to have a nice chunk of change. I'm very surprised with the amount of cash buyers there are though there are a significant amount of wealthy people in this country.

TLDR My view is you are about 4 years too late for the real bargains, at a minimum 2 years late.

riclad

If a house is empty ,little or no furniture , no tv, that could be a sign its
repossessed , and theres no one living there .
Banks put those houses on daft.ie , myhome.ie or the local estate agents website .
most houses in rural area,s outside dublin,
are 50 per cent of the price they were in 2007 ,before the crash .
i know someone bought an apartment 140k,
now valued at 60k.
in westmeath.
To build a house now 3bed it costs 150k approx.
IN this case the bank will have the deeds ,if its a repossessed house.
You,ll never see an ad repossessed house for sale .
That would put off some potential buyers .

rossj

Hi all,,,, what is the story viewing reposessed houses now in feb 2021???

really eager to up my knowledge on this before deciding on a mortgage or a cah buy..

thanks

Baby01032012

rossj wrote: »

Hi all,,,, what is the story viewing reposessed houses now in feb 2021???

really eager to up my knowledge on this before deciding on a mortgage or a cah buy..

thanks

No different to viewing any other house in Feb 2021...you can’t!

Only online viewings are permitted until at least 5 March unless you are sale agreed and contracts of sale have drafted.

rossj

No but I mean where are reposessed or bank-owned houses advertised for sale or how do I get to see if there are any in a location I would be interested in buying

Thank you

Caranica

rossj wrote: »

No but I mean where are reposessed or bank-owned houses advertised for sale or how do I get to see if there are any in a location I would be interested in buying

Thank you

Houses for sale are houses for sale. They are all for sale in the same places, there are no separate listings.

Snotty

Houses sell for market prices, if a bank repossessed a house worth €500k, they will advertise it for €500k or whatever the EA values it at, the fact its repossessed has no bering on the advertised price.