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House repossessed 2 years ago. It's still sitting there idle.

Hollister11 · 2017-01-28 23:37:47

My ex neighbours house was repossessed 2 years ago. It's been sitting there since. It hasn't been up on the market, or for auction. This is in Dublin and the house is worth circa 500K. The value when it was bought in 2006 was 650k. Why would the bank leave it there for 2 years to possibly fall into disrepair when they…

28-01-2017 11:37pm

#1

Hollister11

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My ex neighbours house was repossessed 2 years ago. It's been sitting there since. It hasn't been up on the market, or for auction. This is in Dublin and the house is worth circa 500K. The value when it was bought in 2006 was 650k.

Why would the bank leave it there for 2 years to possibly fall into disrepair when they could sell it, or if there hoping for higher prices, at least rent it out to a family who needs it.

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#2 28-01-2017 11:42pm

topmanamillion

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A whole hosts of reasons, if I was to pull the most likely out of thin air I`d say the previous owner is challenging the repossession.

The last I heard the O`Donnells are still battling for Gorse Hill 2 years after they were ordered to leave.

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