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

dbfisokay

There’s only a tenuous moral issue here. The house is up for sale via legal processes. You need a house and this one is in the area which minimises disruption. The house will be sold regardless of whether it is to you or to another party and thus the opportunity will be gone if you do not take it. The intuitive problem is can you live in the house knowing that neighbours will likely be aware of how you came to buy it? The immoral thing here would be to deprive yourself of an opportunity through people pleasing

Redundancy is a potentiality for all who work and whilst catastrophic to the redundee , his redundancy is not a significantly relevant factor in the decision of another human being to buy his house. Houses are sold for reasons far more morally important than redundancy e.g. terminal illness and bereavement. The repossession is done and it is in no way your fault. With this in mind the only significant factor in your decision is whether or not your neighbours have more of a say in your life than you do. If they do that is morally concerning as you are putting their value systems above your own concerns.

Trigger_2

Given the chance I'd buy it off them and then rent it back to them.

beverley1296

Of course I would, once it'srepossessed someone is gonna buy it, so why not it be me, and at least I would know some riff raff or property developer who would stick anything in it for rent cheques is not gonna lower the tone and house prices in my street. :beer:

paulswife

No-if you anticipate your circumstances are likely to stay the same moneywise. There will be plenty bigger bargains in the coming years. Yes- if applying for a mortgage may be a problem in the future-ie, shaky job,more kids to come etc. As has been said, the house is for sale so someone will buy it.

diamonds

stephb34 wrote: »

My poor friend is having to sell her house due to her husband running off with another woman (using the term woman loosely dont know if im allowed to put slapper). She can't afford all the mortgage on her own and he's refusing to pay his half or support his child so her only option is to sell or have it repossed, so we're thinking of buying her house off her and letting her rent it back so she still has somewhere nice to live, but this is pulling with my conscience, feel like we're profitting out of her misery, but then think at least she's still able to live in the lovely house she's had nearly 20 years.
By the way she's been to court he's signed to pay but is now refusing she cant physically extract the money out of him how does that work, she cant afford to go to court again or pay anymore solicitors fees, im gutted for her.

Why blame the other party & name call ? its him thats done the deed regardless - paying his half for house & child can be done through court, why go to the extreme of selling ? If he is refusing to pay its a criminal act not to abide by civil court order, her lawyer should telling his so....further non compliance will result in contacting the police to have him arrested for
" contempt of court "....im sure one little letter stating that will make him realise the situation - he could lose his new partner, job & liberty , if she instructs lawyer to do so HE has to. cost of 1 letter may resolve the whole thing .

gymtime

Yes. I would also attempt to approach the neighbours to explain what we were doing. No secrets no surprises. Our first car was purchased from a chap (work colleague) who needed the money for his divorce - he was happy with the deal as we were.

nee-naw

Without a doubt YES ... someone has to buy it!! I would probably doing them a favour rather than having an agent who'd buy it (at a measly cash sum) and rent it out!!! At least I would be competition to keep the price up.

nee-naw

diamonds wrote: »

Why blame the other party & name call ? its him thats done the deed regardless - paying his half for house & child can be done through court, why go to the extreme of selling ? If he is refusing to pay its a criminal act not to abide by civil court order, her lawyer should telling his so....further non compliance will result in contacting the police to have him arrested for
" contempt of court "....im sure one little letter stating that will make him realise the situation - he could lose his new partner, job & liberty , if she instructs lawyer to do so HE has to. cost of 1 letter may resolve the whole thing .

Great post diamonds!!:T

pineapple

Yes - what's the problem? I am not depriving them of their house. It's a done deed. I'm assuming here that there are reasons I would want their house over mine - and that I would be able to sell or rent mine. I might feel a bit differently if it was pure property speculation (but I haven't the cash for that anyway )

silver.squirrell

100% Yes! The property has to be sold for the highest possible price. If you are the highest bidder, then its only right that you buy it.

In the end by paying the most for it you are helping the last owners as they will have a few more £ in their pocket (or have a smaller debt), than they would have done had you not bid or bought the property.

Its as simple at that!