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House repossession

  • 12-06-2017 6:08pm
    #1
    Jo bloggs
    Registered Users, Registered Users 2 Posts: 1 ✭


    I'm renting a house that is being repossessed.can I buy the house without it going on the market ? I.e. Approach the bank ?


Comments

  • #2
    endacl
    Registered Users, Registered Users 2 Posts: 22,412 ✭✭✭✭endacl


    Try asking here: http://www.boards.ie/vbulletin/forumdisplay.php?f=38


  • #3
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    Moved to Accommodation & Property

    dudara


  • #4
    Peregrinus
    Registered Users, Registered Users 2 Posts: 26,998 ✭✭✭✭Peregrinus


    The bank has a duty (to the debtor) to sell for the best price they can get, and to demonstrate that they have sought to do that they will want the house to go to market , and probably to be offered for auction. You can approach the bank if you wish, but unless you make a stunningly good offer which their agent advises them (in writing) is certainly better than anything they might hope to get at auction or after open marketing, they are very unlikely to accept.


  • #5
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    As per the above- you'd have to beat the next best offer on the property- and be in a position to buy (mortgage cleared etc). Obviously you're not in a chain- which is a plus- however, next step- you'd need to ensure you have clean title to the property- which is very often the sticking point in receivership sales, issues with the titles.........

    I would have my solicitor make a formal offer to the receiver- and see what happens in your case.


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