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Ability to purchase BidX1 properties pre auction

  • 20-09-2021 7:57pm
    #1
    Registered Users Posts: 136 ✭✭ Blub123


    Is there any way to discuss the purchase of a property pre auction.

    The area I'm looking at purchasing has quite a few properties that I would think are suitable for a B2L however are mostly BidX1 properties and as I'm purchasing via a mortgage are not suitable.

    Thanks



Comments

  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 61,795 Mod ✭✭✭✭ L1011


    The properties have been put up for auction for a reason, so no - the vendors are generally not in a position to do a conventional sale (missing documentation, planning problems, etc that will rule out a mortgage purchase) or simply don't want to.



  • Registered Users Posts: 1,745 ✭✭✭ BronsonTB


    Those type properties are generally for cash buyers - Most have some sort of issue that causes problems with a mortgage. (Not all but most do!)

    Also the normally use AMV when advertising & it's usually way off the actual property value/selling price.

    BTB - Be sure to hit the 'Thanks' button please.



  • Registered Users Posts: 5,618 ✭✭✭ Claw Hammer


    There is no way the will accept a bid subject co loan. there is no way your solicitor would be happy with you signing a contract which is not subject to loan unless you are a cash purchaser. Your only chance with those properties is to see if they fail to sell at auction and are offered for sale by private treaty afterwards. There might be some possibility of negotiating the terms of the contract at that stage.



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