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Repo's?
Comments
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poppysarah wrote: »Are you buying by area or just don't care where it is as long as it's a repo??
We've got certain area's we want to stay in, but not one in particular. And i just thought it might be worth looking at repo's cos i thought they were cheaper, but it doesnt have to be a repoMay: Camping set for 4, 2 books.0 -
Not always cheaper. Maybe more open to offers but not always cheaper.
One of our local EAs has coded their site so the repos have code REP at the start of the reference number. It's very handy once you've noticed it.
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You need to be a bit more resourceful in your searching Googling is the way forward. 0
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Hi there, one EA has said most repo's won't have pictures on the inside. So if you come across houses on Rightmove without any pics on the inside, it could be a repo.0
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Hi there, one EA has said most repo's won't have pictures on the inside. So if you come across houses on Rightmove without any pics on the inside, it could be a repo.
Or a lazy agent?
Repos will only have no pictures inside if they are in such a poor state that it would be detrimental to the marketing of the property.
From my experience, when it became known that a property was a repo then the competition between competing buyers thinking that they were getting a good deal would usually push the price above market value.
The interest in repos seems to date back to when the lender only had to sell the property for enough to cover the outstanding loan however for at least the last 20 years all lenders have a duty of care to acheive the best price possible.0 -
Are there any good websites where you can view repossessed houses to buy please?
Thanks in advanceCozworth806 wrote: »Got any links for the main ones?
For the main auctioneers try these sites:
http://www.wheresmyproperty.com/auctions/index.htm
http://www.ukauctionguides.co.uk/areaprot/property.htm
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