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How do you find repossessed homes to buy
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#1
08-03-2007, 4:45 PM
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MoneySaving Convert
 Join Date: Mar 2007
Location: Leicestershire
Posts: 189
Thanked 215 Times in 79 Posts
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How do you find repossessed homes to buy
I have looked on the Internet and they seem to require a regular fee for me to view all properties in Leicestershire area that are coming up for auction. I would have thought it would have been more readily available especially when they say repossession of homes is on the increase. Does anyone know of a way to find out details of properties in your local area for free??? Your help would be most appreciated. |
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#2
08-03-2007, 10:32 PM
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MoneySaving Convert
Join Date: Mar 2005
Posts: 113
Thanked 63 Times in 41 Posts
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Google Propety Auctions..Savils,Alsops are just two of many.
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#3
08-03-2007, 10:32 PM
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MoneySaving Convert
Join Date: Mar 2005
Posts: 113
Thanked 63 Times in 41 Posts
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Google Property Auctions..Savils,Alsops are just two of many.
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#4
08-03-2007, 10:35 PM
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Fantastically Fervent MoneySaving Super Fan
 Join Date: Oct 2006
Location: Scotland
Posts: 2,221
Thanked 6,261 Times in 1,858 Posts
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Countrywide is another one.
4/4/07 NO more pies Club ~ no 58. Joined £2 savers club 11/10/06 ~ £60+ lost count now!
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#5
09-03-2007, 7:42 AM
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Fantastically Fervent MoneySaving Super Fan
Join Date: Mar 2004
Posts: 4,586
Thanked 12,006 Times in 3,091 Posts
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Not all repossessed homes go to auction. Get hold of the Mercury on houses night - you will see notification of offers on repos in the estate agent ads. Seems to be concentrated on just a few agents. Give them a ring and ask to be notified of all.
However, in my local area (not far from you) the repos don't seem to go for less than market value. A bit like houses needing renovation - people think they'll automatically get a bargain and seem to lose their heads a bit.  MFiTT2 No. 11 Start  , now £57409. 2010 Challenges - Weight Gold Medal Other incomeGold Medal Mortgage Reduction oops
 2010 A-Z Prizes CFJR “A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort.” |
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#6
15-03-2007, 12:21 AM
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MoneySaving Convert
Join Date: Jan 2007
Posts: 64
Thanked 25 Times in 15 Posts
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Nearly all repos go on via EA's long before they hit an auction.
If I have Offended you. Thats Great
 If I have Offended your Religion, Race, Sex, Country, Hair Cut and your taste in Biscuits.  Now Thats Bargain 
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#7
15-08-2007, 8:38 PM
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MoneySaving Newbie
Join Date: Aug 2007
Posts: 1
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Hi! you can get these repossessed houses. I had a website as well.I will dig it out and post it here for you to see asap. The deals were fantastic but i did'nt have enough cash for deposit.
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#8
15-08-2007, 8:49 PM
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Serious MoneySaving Fan
 Join Date: Jul 2006
Location: Midlands
Posts: 1,270
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Many repossesed house don't sell for much less than any other house that is on the market. Many that I have dealt with recently have actually been sold for OVER asking price, so don't assume you are going to get a bargain!
Whereabouts in Leicestershire are you looking? I may be able to help you. My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 16 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
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#9
08-10-2007, 11:28 PM
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MoneySaving Stalwart
 Join Date: Aug 2004
Location: London
Posts: 424
Thanked 35 Times in 34 Posts
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Website?
Quote:
The quickest way to double your money is to fold it in half and put it back in your pocket. :rolleyes:
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#10
07-09-2008, 1:27 PM
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MoneySaving Stalwart
Join Date: Jun 2008
Posts: 282
Thanked 31 Times in 26 Posts
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Does anyone know a website for repossessed houses which is free?
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#11
14-11-2008, 7:07 PM
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MoneySaving Newbie
Join Date: Nov 2006
Posts: 8
Thanked 3 Times in 1 Post
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Repo'd houses generally go to auction houses. Whether it's a bargain depends on how many people are bidding for it! There are what appears on the face of it to be some absolute bargains; but then they might have damp-rot or need underpinning or the roof might have collapsed last Tuesday - who knows.
Try for example www.barnardmarcusauctions.co.uk I'm not affiliated with them in anyway btw... |
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#12
14-11-2008, 7:20 PM
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Fantastically Fervent MoneySaving Super Fan
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Heres some auctioneers. Do remember what seems a "fantastic price" is only the guide price and they very often go for more.
http://www.wheresmyproperty.com/auctions/lo.htm |
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#13
06-12-2008, 5:28 PM
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Serious MoneySaving Fan
Join Date: Mar 2006
Posts: 816
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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.
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#14
14-03-2009, 3:26 PM
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MoneySaving Newbie
Join Date: Mar 2009
Posts: 1
Thanked 0 Times in 0 Posts
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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. |
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#15
14-03-2009, 5:11 PM
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MoneySaving Stalwart
Join Date: Dec 2007
Posts: 710
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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 one :confused: |
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#16
14-03-2009, 5:20 PM
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Fantastically Fervent MoneySaving Super Fan
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Quote:
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#17
14-03-2009, 5:33 PM
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MoneySaving Stalwart
Join Date: Dec 2007
Posts: 710
Thanked 419 Times in 302 Posts
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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! Last edited by m_13; 14-03-2009 at 6:44 PM. |
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#18
14-03-2009, 6:15 PM
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MoneySaving Convert
Join Date: Mar 2008
Posts: 26
Thanked 7 Times in 6 Posts
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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/
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#19
14-03-2009, 7:52 PM
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MoneySaving Convert
Join Date: Oct 2008
Posts: 163
Thanked 84 Times in 52 Posts
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#20
14-03-2009, 8:04 PM
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Fantastically Fervent MoneySaving Super Fan
Join Date: Mar 2007
Posts: 4,112
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Quote:
What about well priced non-repossessions not in your search? How much extra would you pay for one? |
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