I want to buy a reposessed property, HOW?

zedyy

I can't find anything in the West Midlands showing where reposessed properties are located, not even at any auctions, can someone help me out?

poppysarah

Look on rightmove.
Why do you want to buy a repo? They may not be cheaper than one of the 4 Ds will get you a better deal.

Repos - generally only one pictures, but tapes over bathroom sink/loo, notice in the window asking previous owner to remove their stuff.
Buy in your preferred location, at the right price - don't get hung up on the extra stress of a repo.

Repos need 28 day exchange which gets tricky if you have to organise a mortgage

zedyy

Thanks for the info.

what are the 4 D's?

charliee_3

why do they put tape on the loo, etc? ive noticed that on pictures...

googler

Generally, the repos will have all water tanks, heating systems etc drained down to remove risk of leaks and mishaps while they're empty.

Also, electricity and gas will be turned off.

Tapes are placed over all appliances, and anything which draws water, to say "Do not use without calling a qualified plumber/electrician/gas fitter" to reconnect and safety check it all

charliee_3

aaah... now i see!! i stupidly thought it was when the bathroom was brand new... duh!!!:rotfl:

poppysarah

zedyy wrote: »

Thanks for the info.

what are the 4 D's?

death
divorce
debt
dementia

plus some extras
desire
disablement
erm... sure there were more.

Anything that forces a sale - should get you as cheap if not cheaper than a repo. If you're serious about paying less look at auctions but be wary and do plenty of research