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Gazundering on a repo
Comments
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tek-monkey wrote: »Yup, I would. Whats the point in closed bids if you get to renegotiate after seeing everybody elses? I'd probably go back to the other guy with your new bid, and ask him to raise it by a fiver. Even if they won't, I'd give it them for their initial offer rather than you.
Wouldn't the re-possessed lose out that way? They turn down a higher offer for a lower one and the prior owner loses out due to a moral crusade?0 -
there's no additional moral issue with gazundering on a repo than with gazundering on any other property. the circumstances of the sale are nothing to do with you at all, it's not your job to make sure that the repossessed owner gets as much for the house as possible. if you're not happy with the offer you have made, then reduce it.
the risk is that as with any property you run the risk that you will lose it if you gazunder.0
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