MONEY MORAL DILEMMA: Would you buy your neighbours’ repossessed house?

MSE_Jenny

Here's this week's hypothetical situation for you to cogitate on:

Would you buy your neighbours’ repossessed house?

The house of a neighbour a few doors down has been repossessed after the husband was made redundant, and they struggled to keep their head above water. The creditors are now selling it off at a knock-down price. You’ve been after bigger place for a while, and this would be perfect. Yet part of you feels bad about cashing in on your neighbours’ bad luck. You know them to say hello to, but aren’t good friends.

Click reply to have your say

Previous MMDs:

Would you ask for a tip back?
Would you pay for a no-show?


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Thunderbird_2

I don't know! May be yes, may be no! I honestly don't know! This is a tough one for me!

Kavanne

Yes.
........

DCLane

Yes - because even if I didn't, someone else would.

elcoline

Yes and conscience-free. They are on nodding terms; not friends or family.

Also, it will only be sold to you if you offer the best price/deal.

IWasWondering...

It's for sale. What's the problem?
If you don't buy it someone else will.

jumbojuice

id go for it - like it was said already, they arent family -- just people you nod at!

WelshGandalf

Go for it.

Better someone they vaguely know than a random person.

Even if I knew them better I still don't think I would have any qualms. It's going to get sold to someone at some price - it may as well be you.

redmandarin

Financial and family circumstances have prevented me from buying property - so I continue to live in poorly maintained (insecure) private rented accommodation - on a rolling 12 month let.

During the 10 years we've been together, my partner and I wanted to buy our own house, but prices kept increasing so much, and so quickly that all but the tiniest of properties were out of our price range - even though we had two incomes. During the last few years, we felt that the market could crash any time and so it never seemed the right time to buy!

Now it is too late for us, prices are falling, but they are still way too high. We have been good and tried to not run up big debts and have worked hard to save what money we could for a deposit, but now our deposit is not enough and our meagre savings are receiving minimal interest (so that taking inflation into account, they are dripping away)! And we are not getting any younger!

So, yes I would buy the house!

But it would have to be at a reasonable price!

crystal_clear

Yes i would buy the house if I was in the market to buy regardless of who it belonged to friend family etc etc ....... Thats only because if I didnt someone else would and if it did belong to family or close friend and i was in the position I could maybe rent it back to them or rent my house to them and that way everyone would be happy....

Crystal

zeeboears

Yes..you have to buythe house..... You are not responsible for getting your neighbour to this position, someone will buy it why not you?...the neighbour may actually be pleased that someone they know is going to live there.....tell them and be honest though!