Repossessed House Anyone buy one?

lbyrne121

Anyone out there buy or know anyone who has successfully bought a repossessed house? (in receivership/owned by banks)

:-)

smelly sock

lbyrne121 wrote: »

Anyone out there buy or know anyone who has successfully bought a repossessed house? (in receivership/owned by banks)

:-)

Don't touch it.

Depending where it is neighbours might look to kindly on it.

If your sister/Brother or family member were evicted from a house would you buy that one?

knucklehead6

If it's in the right location and right price for you, go for it.

pilly

smelly sock wrote: »

Don't touch it.

Depending where it is neighbours might look to kindly on it.

If your sister/Brother or family member were evicted from a house would you buy that one?

Someone has to buy the house. It's already been re-possessed.

But apart from that OP I've only heard bad things about banks being slow during the process. Someone who's been through might give you more info.

smelly sock

smelly sock wrote: »

Don't touch it.

Depending where it is neighbours might look to kindly on it.

If your sister/Brother or family member were evicted from a house would you buy that one?

Nonsense, if house is what you want and the price is the right buy it. It wouldn't bother me in the least if it was previously repossessed.

lbyrne121

The house has never been lived in by the original owner it was always rented out it has been sitting idol for 6 months now and it is in bad need to TLC.  So I don't think the neighbours would be too bothered with me taking on a hosue that is just sitting there..

That aside my question is in relation to anyone out there who knows of OR has bought a repossessed house from a receiver through the banks?  I have read nothing but bad stories in relation to lengthily process or the banks pulling the sale etc.. Has anyone got any positive stories?

yosser hughes

Celia Wrong Corner wrote: »

Nonsense, if house is what you want and the price is the right buy it. It wounds bother me in the least if it was previously repossessed.

How would you know if a house was repossessed unless it was for sale in one of those special Allsop auctions?

yosser hughes

yosser hughes wrote: »

How would you know if a house was repossessed unless it was for sale in one of those special Allsop auctions?

In the case above the ad will start 'On the instructions of the receiver...'

kodak

lbyrne121 wrote: »

The house has never been lived in by the original owner it was always rented out it has been sitting idol for 6 months now and it is in bad need to TLC.  So I don't think the neighbours would be too bothered with me taking on a hosue that is just sitting there..

That aside my question is in relation to anyone out there who knows of OR has bought a repossessed house from a receiver through the banks?  I have read nothing but bad stories in relation to lengthily process or the banks pulling the sale etc.. Has anyone got any positive stories?

Hi,

About 9 months for completion from when we agreed a price.

Pm me if you want any other info

lbyrne121

The EA has said a receiver has been appointed by the banks that is how I know.

smelly sock

lbyrne121 wrote: »

The house has never been lived in by the original owner it was always rented out it has been sitting idol for 6 months now and it is in bad need to TLC. So I don't think the neighbours would be too bothered with me taking on a hosue that is just sitting there..

That aside my question is in relation to anyone out there who knows of OR has bought a repossessed house from a receiver through the banks? I have read nothing but bad stories in relation to lengthily process or the banks pulling the sale etc.. Has anyone got any positive stories?

Ah well that's a bit different. I was of the thinking that it was some poor family turfed out.

Go for it then and best of luck.

smelly sock

smelly sock wrote: »

Ah well that's a bit different. I was of the thinking that it was some poor family turfed out.

If they aren't paying their mortgage why should they be allowed stay in the house. In this country if your house is repossessed you are a bad case and paying nothing for a very long time.

I don't see why you would have an issue buying a house that has become available because a bank has repossessed it as the previous owners were not paying for it.

If its a good deal for you buy it, leave emotion and sentiment out of it.

athtrasna

Mod note
OP you have already been discussing this in at least two other threads and you know there is a megathread for bank sale discussion. No need for a separate thread.