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How do you find repossessed homes to buy
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# 1
back2square1
Old 08-03-2007, 4:45 PM
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Question How do you find repossessed homes to buy

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.
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# 2
Wings
Old 08-03-2007, 10:32 PM
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Google Propety Auctions..Savils,Alsops are just two of many.
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# 3
Wings
Old 08-03-2007, 10:32 PM
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Google Property Auctions..Savils,Alsops are just two of many.
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# 4
alba37
Old 08-03-2007, 10:35 PM
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Countrywide is another one.
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# 5
gallygirl
Old 09-03-2007, 7:42 AM
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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.
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# 6
A Guard Swine
Old 15-03-2007, 12:21 AM
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Nearly all repos go on via EA's long before they hit an auction.
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If I have Offended your Religion, Race, Sex, Country, Hair Cut and your taste in Biscuits.
Now Thats Bargain
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# 7
ali111
Old 15-08-2007, 8:38 PM
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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
MissMotivation
Old 15-08-2007, 8:49 PM
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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 20 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
itgirlinuk
Old 08-10-2007, 11:28 PM
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Question Website?

Quote:
Originally Posted by ali111 View Post
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.
Do you have the website address? I am looking for a bargain buy, as the rest of the world!
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# 10
rob2360
Old 14-11-2008, 7:07 PM
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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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# 11
hethmar
Old 14-11-2008, 7:20 PM
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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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# 12
spuds
Old 06-12-2008, 5:28 PM
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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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# 13
andrew-hat
Old 14-03-2009, 3:26 PM
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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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# 14
m_13
Old 14-03-2009, 5:11 PM
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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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# 15
Running Horse
Old 14-03-2009, 5:20 PM
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Quote:
Originally Posted by m_13 View Post
By the way, why have you replied to this old thread instead of starting a new one :confused:
If only more people did the same instead of starting yet another discussion about "repossed" property. About time someone started a sticky.
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# 16
m_13
Old 14-03-2009, 5:33 PM
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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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# 17
Mapson
Old 14-03-2009, 6:15 PM
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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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# 18
sharpe106
Old 14-03-2009, 7:52 PM
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Quote:
Originally Posted by andrew-hat View Post
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 house
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# 19
Running Horse
Old 14-03-2009, 8:04 PM
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Quote:
Originally Posted by Mapson View Post
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/
You only want repossessions?

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

How much extra would you pay for one?
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# 20
besonders1
Old 14-03-2009, 8:09 PM
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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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