Hidden repossessions

silvercar

There seems less repos at the current time. Either because the government is putting pressure on the publicly supported banks to reduce the repos or because the lenders can see the benefit in waiting until a property is out of negative equity before repossessing. Add to that the mortgage interest support available to the unemployed, that wasn't there in the 80s and it explains why the numbers are so low.

In the 80s, people repo'd would be more inclined to wreck the place on departure, now people are more aware that repossession doesn't rid you of the shortfall on sale and people are more inclined to go quietly. It could be that the rental sector boosted by BTL means its easier to find a private rental and discreetly move home. It may be that the internet is playing a part. If your home is going to appear all over Rightmove, with your graffitti on display for all to see, you may exercise some caution.

carolt

nollag2006 wrote: »

Wow !! If even the most negative pessimistic long term renters and die hard bear muppets like carolt are coming back into the marketplace (and this is someone who missed out by renting during the entire timeframe from the mid-90s to 2007), then we must surely be going to see prices about to drop off a cliff.

Now all we need is Capital Economics to predict house price increases, and I will surely know that it's time to sell my portfolio.

:rotfl::rotfl:



As I suspected with so many of these "reformed" bears, they feed off the misery of others. Be sure to get yourself a good price on this carelesst, so that the previous owner will feel the pain for years to come.

Disgusting behaviour, but not surprising coming from you.

What a strange post.

I'm not going to be trying to get a good price or any other price, as I'm not buying the house.

I wasn't renting in the mid-late 90's - I was abroad.

Plus I have stated many times that I plan to buy when the time is right for us and we find the right property at the right price. Not really clear how this reflects on the housing market as a whole.


Though I suspect you're right about house prices being about to drop off a cliff.

Do make sure you have a lovely day nolleg - and if you want to share any more of your hang-ups with us, you go right ahead.

carolt

Not that I could spot, but they had nailed up the loft, despite the fact it had been illegally converted and had stairs installed and everything, making me wonder what on earth they had done up there! The EA claimed graffiti, but I did wonder if it was something worse.... :eek:

Really2

They sound as bad as some of the people who rent houses and do the same when they leave.:rolleyes:

Funny how people who have lost their homes are made out to have no morals.

My mate bought one around the same time and when he got the keys the owner had a !!!!!! in the middle of the living room before he went.......Nice

Not understanding this so in the 90's could you live in a repo up until it was sold?
or did the previous owner keep a set of keys.

but they had nailed up the loft, despite the fact it had been illegally converted

perhaps because it did not have building regs is why they had nailed it shut. (the mortgage company that is)
They don't want to be sued for someone falling through the roof or anything.

carolt

People nail up the loft when they leave rented houses?

Never heard of that one. :rolleyes:

Frankly, never heard of people leaving in excrement in rented houses either - have you?

I think you kind of missed the point with the comments about people leaving repos, Really - I don't think anyone was suggesting they were short of morals, just that they were fed up and very upset - it's understandable, but that doesn't make it any more pleasant for those who move into the house after them, who, after all, were not responsible for the fact they had the place repossessed.

You may well be right about the building regs - that occurred to me too - though it was the EA who suggested it was due to graffiti.

Stay_tonight_in_a_lie

bo_drinker wrote: »

They do, we bought a repo in the 90s and they smashed all the plugs and other stuff. My mate bought one around the same time and when he got the keys the owner had a !!!!!! in the middle of the living room before he went.......Nice :rotfl:

Yeah we viewed a repo in 2002, the loft was nailed shut too. Luckily I had a claw hammer in the car and went on to prize it open. I was met with 74 empty big mac boxes, we made our excuses and left.

Davesnave

Stay_tonight_in_a_lie wrote: »

Yeah we viewed a repo in 2002, the loft was nailed shut too. Luckily I had a claw hammer in the car and went on to prize it open. I was met with 74 empty big mac boxes, we made our excuses and left.

Strange, you were in a hurry, yet you felt compelled to count them. I know that feeling only too well..

Are you sure there weren't 73?

Oh well, too late to worry now, I suppose; just have to hope for the best!:o

Really2

carolt wrote: »

People nail up the loft when they leave rented houses?

Never heard of that one. :rolleyes:

Frankly, never heard of people leaving in excrement in rented houses either - have you?

I have never heard of an owner excrement in a front room either.:rolleyes: (and my family member sells repos)

But I know heard people have rented never paid any rent and trashed a place.

But you seem to think it is only owners who do such things not just random people.


random acts of excrement leaving and trashing of houses are commited renters and owners alike for many reasons.
But th vast majority leave without doing anything.

I just found the way the thread was turning was being pretty down on people who got reposessed.
I can't remember Geoffyk saying he had a squat down in his living room (sorry for bringing you in geoff but i am think you said you had been repossesed in the past)

IveSeenTheLight

Really2 wrote: »

I have never heard of an owner excrement in a front room either.:rolleyes: (and my family member sells repos)

I've looked at two reposessions many years ago.
One of them had obviously left a dog alone in the house for many hours / day as there are a distinct smell of dog, poo and pee.
I wouldn't in any way think it was the standard for repo's though

Really2

IveSeenTheLight wrote: »

I've looked at two reposessions many years ago.
One of them had obviously left a dog alone in the house for many hours / day as there are a distinct smell of dog, poo and pee.
I wouldn't in any way think it was the standard for repo's though

Indeed some repos may be because of failure to pay through mental health or death.
Both can leave a neglected/distressed property but also these problems are not limited to people who own either