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

storminbalder

Certainly not.

No matter how cheap, it is still unwise to buy in a market that's collapsing.

RobberRob_2

The home is already 'repossed' so it is the Bank selling, not the neighbour.
Drive a hard bargain with the 'institution' selling, BUT:- be generous when buying the 'fixtures and fittings' which will probably also be for sale.
Rob.

manhater

My neighbours brother bought my house (whom i knew very well) he didnt put in an offer when up for sale instead he waited for 'the bargain' obviously preying on my personal situation. He knew what mortgage i had left to pay but still put an offer in 70 thousand less than the asking price when it went for repossession leaving me with 20 thousand shortfall. Morally i think this was wrong! though i do now have a smile on my face when he told me how many things had gone wrong with the house and the expense he has shed out, also with the current house price drop

yellowsmiles

im afraid i'd buy it. like everyone else is saying. if i didnt buy it someone else would. and id miss out on a good bargain.

x

Skiptonman

So, the dilemma is would I do it? The answer is only "yes" IF I could afford to do it without having to sell my own. Why, becasue then I would work out a deal with the guy so he could stay in it. Otherwise, "NO".

saveroo_2

This is a difficult one because they would be doomed to have somebody else living there anyway. The world is a cruel place sometimes, but this makes you think about how it would make you feel in the same circumstances! It would be much better if they were allowed to live there until their financial situation improved, but life is not like that. I don't see the point of throwing householders out onto the street - everybody needs to live somewhere! However, having said that I would definitely consider buying it!:cool:

rothiequine

Yes I would buy their house guilt free. It's not my fault he was made redundant and couldn't pay the mortgage.

Miss_Liquorice

Like many people before me, yes I would if I could afford to. I was obviously in that area for some reason, and to get the bigger house I wanted on a street I wanted to live on so much I settled for a smaller place would be a great opportunity. Someone's got to live there.

Sami_Bee

YES!!
Its not my fault they had an unfortunate time of it, I never miss a bargain :cool:
Plus they may actually prefer to know that "their" house is in good hands with a nice new owner who will look after it

Sami_Bee

manhater wrote: »

My neighbours brother bought my house (whom i knew very well) he didnt put in an offer when up for sale instead he waited for 'the bargain' obviously preying on my personal situation. He knew what mortgage i had left to pay but still put an offer in 70 thousand less than the asking price when it went for repossession leaving me with 20 thousand shortfall. Morally i think this was wrong! though i do now have a smile on my face when he told me how many things had gone wrong with the house and the expense he has shed out, also with the current house price drop

That what i call Karma :A