identifying reposessions

useless

Sorry for being ignorant - what is proof of dip ???

silvercar

proof you have a deposit.

uk_property_expert

a dip is a decision in principle on a mortgage offer,
It is still worth if you are thinking of moving into a specific area delivering leaflets into that area saying you can buy fast and can save the seller estate agent fees. A friend of mine purchsase a property he later had valued at 700k for 500k because the people who received thr leaflet were moving to Canada and wanted a quick sale. He had spent 40k on a kitchen and 2 bathrooms. The royal mail deliver leaflets for around 40 per 1000 and you can get 20,000 printed for around 150

Blacksheep1979

Emmzi wrote: »

..and make friends with eas in area..

That may be one step too far

dander

In my experience estate agents are usually perfectly open about which places are repossessions. Just ask them.

Milliewilly

If you check Rightmove everyday there's only a few more houses listed to sift through and its pretty obvious from the (lack of) pictures and the notice in the window / no vendor chain that its a repo.

As others have said though it doesn't make them cheap. Rather it attracts a flurry of bargain hunters and has the opposite effect.

uk_property_expert

you can set yourself up on rightmove to get notifications of properties coming onto the market in a defined area and in a defined price bracket

Astara

uk_property_expert wrote: »

If are you targeting repossessions because you hope to find a bargain? They are not always a bargain as Enfieldian mentioned. Are you targeting a cheap property as a home or as an investment? What you need to do is get yourself in a position to move quick and be able to exchange in 48 hours (get proof of dip, bridging loan, bank statement with deposit) Then advertise the fact you can exchange in 48 hours in return for a discount on the market value of around 20% (property may already being marketed below its market value and after a refurb ie 5k refurb will add 15k value). You can advertise either in your local paper or by telling the local agents. around 20,000 leaflets with this message in the right area will also get you a result.

Do you know a solicitor that does a 48 hour exchange or will any sol do it for a bigger fee?

RobertoMoir

Milliewilly wrote: »

If you check Rightmove everyday there's only a few more houses listed to sift through and its pretty obvious from the (lack of) pictures and the notice in the window / no vendor chain that its a repo.

As others have said though it doesn't make them cheap. Rather it attracts a flurry of bargain hunters and has the opposite effect.

Auction type situations tend to bring out the worst in people.

At the end of the day the rules don't change though do they - it's worth whatever it's worth to you and you shouldn't go over that amount.

Milliewilly

Astara wrote: »

Do you know a solicitor that does a 48 hour exchange or will any sol do it for a bigger fee?

Mine will do a 24 hour exchange start to finish if he gets the info from the seller through and you have the cash.