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Buying a Repo
kibs88
Posts: 86 Forumite
Hi,
I thought I would start this as a way to vent my feelings through this frustrating time.
A bit about my situation:
1. I am buying a house with my OH been together 3years with 25% deposit.
2. Im a student so the mortgage will be in his name, I will pay for all furnishings etc.
We have been through this process before....found a repo....fell in love....went to sealed bids and lost out
this was back in Feb (the first house we looked at)
We have found another house (also a repo) and again have fallen in love...bigger than the other, an extra bedroom, semi det rather than terraced, only 2years old.
The house has been on the market for 5months and no offers have gone in....its on the market for £85,500 and we have put an offer in for £80k, will go up in £1k increments if offer refused.
This is my story...any one else please feel free to share your experience or offer me any advice, I would really appreciate it :rolleyes:
I thought I would start this as a way to vent my feelings through this frustrating time.
A bit about my situation:
1. I am buying a house with my OH been together 3years with 25% deposit.
2. Im a student so the mortgage will be in his name, I will pay for all furnishings etc.
We have been through this process before....found a repo....fell in love....went to sealed bids and lost out
this was back in Feb (the first house we looked at)We have found another house (also a repo) and again have fallen in love...bigger than the other, an extra bedroom, semi det rather than terraced, only 2years old.
The house has been on the market for 5months and no offers have gone in....its on the market for £85,500 and we have put an offer in for £80k, will go up in £1k increments if offer refused.
This is my story...any one else please feel free to share your experience or offer me any advice, I would really appreciate it :rolleyes:
0
Comments
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Why have you offered so much?No reliance should be placed on the above! Absolutely none, do you hear?0
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Hi,
I thought I would start this as a way to vent my feelings through this frustrating time.
A bit about my situation:
1. I am buying a house with my OH been together 3years with 25% deposit.
2. Im a student so the mortgage will be in his name, I will pay for all furnishings etc.
We have been through this process before....found a repo....fell in love....went to sealed bids and lost out this was back in Feb (the first house we looked at)
We have found another house (also a repo) and again have fallen in love...bigger than the other, an extra bedroom, semi det rather than terraced, only 2years old.
The house has been on the market for 5months and no offers have gone in....its on the market for £85,500 and we have put an offer in for £80k, will go up in £1k increments if offer refused.
This is my story...any one else please feel free to share your experience or offer me any advice, I would really appreciate it :rolleyes:Why have you offered so much?
Maybe because they do not want to lose this bigger, newer property?There are many things I'd like to say to you, but I don't how...0 -
Turin_Turambar wrote: »Maybe because they do not want to lose this bigger, newer property?
But no offers have been made in the last 5 months, apparently ...No reliance should be placed on the above! Absolutely none, do you hear?0 -
If you have already been through the process I would imagine that you already know what to expect. Therefore, you can't really be surprised if something bad happens (which I hope it doesn't).
It seems that you have offered what you think the property is worth. It is a shame that there are so many repo's out there. I feel sorry for all the people that have found themselves loosing their home.
Good luck and I hope it goes well for you.0
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