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Buying a repossessed house
rebeccab
Posts: 1 Newbie
Hi everyone,
My mum is currently in a sticky situation. Unfortunately she has been a tenant in a flat for the past 6 years, always paying her rent and bills on time. Yesterday, she received a notice of eviction as her landlord hasn't paid the mortgage since december.:mad: they've told her she now has 3 weeks to get out of the property before the locks are changed etc.
My mum is 60 and by herself, she's unable to pay a property herself after living abroad previously and doesn't have much savings. She is reluctant to move. I wondered if anyone had any info as to how i could perhaps make an offer on the property, without her having to move out? I'm a FTB and was looking for somewhere anywhere so it seems to make sense to put in an offer as hopefully i should get a good deal, I also work for a bank and get great rates on staff mortgage. Has anyone been in this situation or know of anyone who has?
Many Thanks
Rebecca
My mum is currently in a sticky situation. Unfortunately she has been a tenant in a flat for the past 6 years, always paying her rent and bills on time. Yesterday, she received a notice of eviction as her landlord hasn't paid the mortgage since december.:mad: they've told her she now has 3 weeks to get out of the property before the locks are changed etc.
My mum is 60 and by herself, she's unable to pay a property herself after living abroad previously and doesn't have much savings. She is reluctant to move. I wondered if anyone had any info as to how i could perhaps make an offer on the property, without her having to move out? I'm a FTB and was looking for somewhere anywhere so it seems to make sense to put in an offer as hopefully i should get a good deal, I also work for a bank and get great rates on staff mortgage. Has anyone been in this situation or know of anyone who has?
Many Thanks
Rebecca
0
Comments
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You would need to find out who the lender of the property is & once they have began steps to repossess the property you can try to make an offer to buy the property.
Lenders are honour bound to achieve the best possible price for repossessions, so silly offers won't generally be given consideration.
If your mother is in danger of having nowhere to live then she should contact Shelter asap for help & advice.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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