Can you make an offer on a house without a mortgage in place?

jeec_2

My partner and I have found a property that we want to make a n offer on, its a reppossesion. Without a mortagge guarentee or certificate can we still put an offer in?
The estate agent said that as long as we are shown to be processing the mortgage thats ok, see as the repposession purchasing takes 21 days?

Thanks for any help.

suisidevw

I think purchasing a reposession is 28 days. There was a great thread on this over the last couple of days all about them.

I suppose you could easily put in an offer but it's whether you'd be able to complete etc in time. I'd say you won't!

charliee_3

The mortgage can take a few weeks to sort out so i;d say you'd be pushing it on a repossesion without a mortgage in place. Also if they get another offer the same as yours from someone who is ready to proceed so can get done quicker they may decide to go with them instead just coz of that reason...

but there is no harm putting your offer in.. they can only say no!!

G_M

I would think twice especially if you start paying out costs. Mortgage admin fee? Survey? Solicitor (unless you can negotiate no-sale-no-fee) etc etc.

Reposessions are never taken off the market till Exchange of Contracts, so even if your offer is accepted, any delay means you may lose it as Charliee has said, and lose any cash you've paid out.