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  • FIRST POST
    • back2square1
    • By back2square1 8th Mar 07, 4:45 PM
    • 218Posts
    • 1,469Thanks
    back2square1
    How do you find repossessed homes to buy
    • #1
    • 8th Mar 07, 4:45 PM
    How do you find repossessed homes to buy 8th Mar 07 at 4:45 PM
    Hello
    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.
Page 1
  • Wings
    • #2
    • 8th Mar 07, 10:32 PM
    • #2
    • 8th Mar 07, 10:32 PM
    Google Propety Auctions..Savils,Alsops are just two of many.
  • Wings
    • #3
    • 8th Mar 07, 10:32 PM
    • #3
    • 8th Mar 07, 10:32 PM
    Google Property Auctions..Savils,Alsops are just two of many.
    • alba37
    • By alba37 8th Mar 07, 10:35 PM
    • 2,234 Posts
    • 6,273 Thanks
    alba37
    • #4
    • 8th Mar 07, 10:35 PM
    • #4
    • 8th Mar 07, 10:35 PM
    Countrywide is another one.
    • gallygirl
    • By gallygirl 9th Mar 07, 7:42 AM
    • 15,667 Posts
    • 102,419 Thanks
    gallygirl
    • #5
    • 9th Mar 07, 7:42 AM
    • #5
    • 9th Mar 07, 7:42 AM
    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.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Interim target: 100k by Aug 13 - met Sept 13 Next: 50k by Sept 14 - met Aug 14 Final: 0 by 1/9/15, currently 24.4k 24.3k 22.6k 19.7k 15.7k
    "Do what others won't early in life so you can do what others can't later in life"
  • A Guard Swine
    • #6
    • 15th Mar 07, 12:21 AM
    • #6
    • 15th Mar 07, 12:21 AM
    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
  • ali111
    • #7
    • 15th Aug 07, 8:38 PM
    • #7
    • 15th Aug 07, 8:38 PM
    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.
    • MissMotivation
    • By MissMotivation 15th Aug 07, 8:49 PM
    • 1,674 Posts
    • 1,517 Thanks
    MissMotivation
    • #8
    • 15th Aug 07, 8:49 PM
    • #8
    • 15th Aug 07, 8:49 PM
    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 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
    Ignore......check!
  • itgirlinuk
    • #9
    • 8th Oct 07, 11:28 PM
    Website?
    • #9
    • 8th Oct 07, 11:28 PM
    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.
    Originally posted by ali111
    Do you have the website address? I am looking for a bargain buy, as the rest of the world!
    The quickest way to double your money is to fold it in half and put it back in your pocket. :rolleyes:
  • rob2360
    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...
    • hethmar
    • By hethmar 14th Nov 08, 7:20 PM
    • 10,397 Posts
    • 9,828 Thanks
    hethmar
    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
  • spuds
    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.
  • andrew-hat
    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.
    • m_13
    • By m_13 14th Mar 09, 5:11 PM
    • 972 Posts
    • 616 Thanks
    m_13
    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:
    • Running Horse
    • By Running Horse 14th Mar 09, 5:20 PM
    • 9,000 Posts
    • 15,237 Thanks
    Running Horse
    By the way, why have you replied to this old thread instead of starting a new one :confused:
    Originally posted by m_13
    If only more people did the same instead of starting yet another discussion about "repossed" property. About time someone started a sticky.
    • m_13
    • By m_13 14th Mar 09, 5:33 PM
    • 972 Posts
    • 616 Thanks
    m_13
    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.
  • Mapson
    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/
    • sharpe106
    • By sharpe106 14th Mar 09, 7:52 PM
    • 276 Posts
    • 157 Thanks
    sharpe106
    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.
    Originally posted by andrew-hat
    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 house
    • Running Horse
    • By Running Horse 14th Mar 09, 8:04 PM
    • 9,000 Posts
    • 15,237 Thanks
    Running Horse
    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/
    Originally posted by Mapson
    You only want repossessions?

    What about well priced non-repossessions not in your search?

    How much extra would you pay for one?
    • besonders1
    • By besonders1 14th Mar 09, 8:09 PM
    • 562 Posts
    • 500 Thanks
    besonders1
    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.
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