Can we buy before it gets repossesed????

mxavier11

We are currently renting our house but in recent weeks it has come to our attention that our landlord has not been paying his mortgage arrears and a date in court is arranged to start reposession proceedings, this has happened to us before and had to move within 2 days, we are just wondering if theres any possibility to buy the house from our landlord before a date is set for reposession?? we love the house and if we could get it quite cheap then it would be ideal. please help, many thanks.

Michael

Thrugelmir

Approach your landlord and make the suggestion.

mxavier11

but because posession proceedings are starting I dont know if its legally allowed.

gauly

It's probably not going to work because I doubt the landlord can afford to sell it to you "quite cheap". If he had plenty of equity he would have sold it already and paid back the mortgage. If he doesn't have much equity or is in negative equity he can't sell it to you unless he can pay off the mortgage (or gets permission from the bank to sell for less than the mortgage). You'll probably have to wait until it is actually reposessed and try to buy it from the bank.

tf0401

find out who he has the mortgage with and speak to them direct, you need to know which bank his mortgage is with. it can be done but depends who ypou speak too. call center monkeys wont be able to help you and will tell you it cant be done but it can