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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.How do you find repossessed homes to buy
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Many repossessed houses go through estate agents first. They rarely say repossessed - just vacant possession, or no chain. As others have said, auction properties often go for way over the guide price and many are sold for what they would fetch on the open market anyway. The Edward Mellor EA's site had a good guide to buying properties at auction. Hope this helps.0
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hi everyone theirs a house been repossed near me & a estate agent has it up for sale,is their anyway i can find out which bank/building society is owed the money.
thanks andy.0 -
If you buy a copy of the title from the land registry then it should show what is secured on it. If you use Land Registry line then it costs around £3.
By the way, why have you replied to this old thread instead of starting a new one0 -
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Were the OP and the new poster asking the same thing then I have no issue with posts being merged. However, the original post is 'how can I find a repossession to buy' and the new post is 'I've seen a repossession for sale, how can I find out who the mortgage lender is'. They are totally unrelated questions apart from the fact they both have the word 'repossession' in them.
If all posts with the same keyword in were merged then the board would be even more confusing!
However, I do agree; a sticky on buying a repossessed property would be good although whether people would read it before posting is another matter!0 -
I use Globrix and filter on keywords 'no chain' which helps to identify a lot of repossessions in my area http://www.globrix.com/property/buy/0
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andrew-hat wrote: »hi everyone theirs a house been repossed near me & a estate agent has it up for sale,is their anyway i can find out which bank/building society is owed the money.
thanks andy.
It makes no real difference which bank is owed the money as all the bank will do is sub contract it to somebody, for example if Halifax were owed the mortage they would not be listing the house and you would not be making a offer to Halifax but to another company that they would employ to deal with the house0 -
I use Globrix and filter on keywords 'no chain' which helps to identify a lot of repossessions in my area http://www.globrix.com/property/buy/
What about well priced non-repossessions not in your search?
How much extra would you pay for one?Been away for a while.0 -
I agree, what makes you think that you will get a bargain with a repossession? Why not try bereavement/forced sales offered through estate agents and buy the conventional way, they seem to sell eventually for less. I imagine you are looking to buy a house that you can renovate and do up.0
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Quite often repossessed places end up with an estate agent that is owned by or connected in some way to the lender.
Good way to tell if a property is a repo is look at the pics of the kitchen and bathroom on rightmove and see if there is tape over the loo, sink, boiler, appliances etc saying 'DO NOT USE'
As others have said though a repo will not always be underpriced, if its a good property the lender will want the best price.0
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