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Repo house
beng
Posts: 22 Forumite
I'm trying to purchase a repossed property that is being handled by a EA. I put an offer in and was told the company handling the sale are quite slow so it may be a couple of days before you get an answer. After a week i rang and pushed the EA and at the end of the day was told that the company wouldn't put the offer forward to the bank unless we had a sale agreed on our property. We are only interested in this one property and don't want to go through the sale process without knowing we have an offer accepted on this other house. Are they just giving us the run around or is this a legitamite method used by repo companies. For info they have dropped the house price twice already and have only had one offer in a year.
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Comments
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No one would accept an offer from a buyer who still needs to agree a sale on their own house. Especially on a repo. Surpised the agent didn't point this out to you before now.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0
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Thanks fot that just seems either way your gonna have a hold up as if i accept an offer then have to find a house the people buying my house will have to wait till i find one. Been a while since i bought my last house so obviously forgotten how it works. Like you said would have been nice for the EA to have reminded me of that fact.0
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