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Can they lie about repo property?

formulaonefan · 2008-12-16 07:27:22

Hello, We viewed a property last week and we have been told by the EA that the property is part-exchanged and owned by a relocation company. But I have feeling it is a repo property. How can I find whether it is repo or not? I paid £3 and bought land registry details. In 2002 it was bought by the owners and belonged to…

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besonders1 Posts: 582 Forumite

16 December 2008 at 1:40PM

All our estate agents usually tell you when you go to view or phone up about a property that it is a repossession, or the first paragraph on the leaflets, its says "acting on behalf of the mortgage company we offer for sale this...."
I have heard that many mortgage companies are ditching the "offer in the paper" thing in favour of auctioning the property if the offers are not good enough.

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