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Anyone bought a repo lately??
talullah
Posts: 53 Forumite
Hi was interested to hear how easy it is to buying a repossession house, an Estate Agent has approve me, doesn't know price yet, but it is coming up, it is currently being surveyed at the moment and may get a price this week.
Does anyone know how bank's take kindly on offers, (how much lower do you think they will accept from the survey price??)
Will they take into consideration that we would not need a morgage???
We could be in the property in 3-4 weeks???
Do you get a home information pack???
Just be very interested in any help or information anyone can give.
Look forward to hearing from anyone that can help
Thank you for reading this
Tal
Does anyone know how bank's take kindly on offers, (how much lower do you think they will accept from the survey price??)
Will they take into consideration that we would not need a morgage???
We could be in the property in 3-4 weeks???
Do you get a home information pack???
Just be very interested in any help or information anyone can give.
Look forward to hearing from anyone that can help
Thank you for reading this
Tal
0
Comments
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EA doesn't know price??? IS it being advertised?0
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Hi Poppysarah
As tried to explain, It will be going on with Estate Agent but it is in the process of being valued with the surveyors (from bank I assume), he is hoping to get the price on it for me this week.
So currently not being advertised yet, Estate Agent waiting to get price from surveyor in order to market the repo.
Estate Agent advised it was coming up as he knows I am looking for area.0 -
Hi was interested to hear how easy it is to buying a repossession house, an Estate Agent has approve me, doesn't know price yet, but it is coming up, it is currently being surveyed at the moment and may get a price this week.
<snip>Tal
We were lucky enough to find ourselves dealing with an EA who were proactively dealing with repos so their communication with the repossesser was excellent.
And they didn't have their heads in the clouds re a houses 'worth'.
The fact that you don't need a mortgage should be in your favour I would think as it means you can move fast and aren't going to fall at the first hurdle (the credit check).
Good luck!0 -
Re the Hips - my daughter was looking at a reposession property and did get a HIPs. It was very useful.0
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Lots of usefuil information on this site if you look for it:
http://forums.moneysavingexpert.com/showthread.html?p=20966321&highlight=#post20966321
Follow my links.Been away for a while.0
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