buying a repossessed house

COUSCOUS_3

i was wandering if anyone could give me any advice. i have recently put an offer in on a reposessed house that has been accepted by the mortgage company. the estate agent told me that they would have to put a notice in the paper to see if they could get a higher offer but this would only be for a period of a week.
my week is due to end tomorrow but when driving past the house today i noticed there was another agencies board put up at the property. is it possible that the mortgage company is trying to get a higher offer through another agency as i wasnt even told this was an option and am getting very worried about losing the house.
i am selling my house aswell and dont want to be left in a position where i am left with nowhere to move at the last minute.
has anybody any experience of this process and if so have any advice for me.
thanks a lot

socrates

COUSCOUS wrote: »

i was wandering if anyone could give me any advice. i have recently put an offer in on a reposessed house that has been accepted by the mortgage company. the estate agent told me that they would have to put a notice in the paper to see if they could get a higher offer but this would only be for a period of a week.
my week is due to end tomorrow but when driving past the house today i noticed there was another agencies board put up at the property. is it possible that the mortgage company is trying to get a higher offer through another agency as i wasnt even told this was an option and am getting very worried about losing the house.
i am selling my house aswell and dont want to be left in a position where i am left with nowhere to move at the last minute.
has anybody any experience of this process and if so have any advice for me.
thanks a lot

Do a search on here first - there are at least 2 recent threads on this subject - please lets not have another one going over all the same points again

bomber2

COUSCOUS wrote: »

i was wandering if anyone could give me any advice. i have recently put an offer in on a reposessed house that has been accepted by the mortgage company. the estate agent told me that they would have to put a notice in the paper to see if they could get a higher offer but this would only be for a period of a week.
my week is due to end tomorrow but when driving past the house today i noticed there was another agencies board put up at the property. is it possible that the mortgage company is trying to get a higher offer through another agency as i wasnt even told this was an option and am getting very worried about losing the house.
i am selling my house aswell and dont want to be left in a position where i am left with nowhere to move at the last minute.
has anybody any experience of this process and if so have any advice for me.
thanks a lot

i bought a reposessed house just before xmas and was out the country from 27 dec until 21 jan,the actual transaction went through on the 18 jan(pre-aranged)the house was put on the internet about the 4 jan for one week for people to make any better offers,but if anybody had outbid me i would of had to match them and a the bidding would have escalated and had i lost and i would of had solicitors fees to pay,but luckily this did not happen but it is a worry,i think its the downside of getting a bargain,i think it being the xmas period was in my favour.best of luck

COUSCOUS_3

socrates wrote: »

Do a search on here first - there are at least 2 recent threads on this subject - please lets not have another one going over all the same points again

im sure theres no need to be rude. i do beg your pardon

socrates

COUSCOUS wrote: »

im sure theres no need to be rude. i do beg your pardon

Not being rude just stating a fact - its been done to death lately

poppysarah

socrates wrote: »

Not being rude just stating a fact - its been done to death lately

And it'll be done to death frequently for the next couple of years too.

Perhaps a sticky guide to buying a repo?