Repo - suspect foul play (again)

Milliewilly

A Repo house on at £205K was sold, fell through and came back on last Friday. Viewed last Friday and the neighbour asks me if I have bought it as its sold (@£193K) I say no its up for sale. Turns out the 'buyer' has not provided proof of sale so not prodeedable. I offer £150K cash immediately . This is unsurprisingly rejected on Monday this week.

View it again Monday with a different EA from the same firm and he tells me there is an offer of £193K but not proceedable and a much lower cash offer (mine - he didn't know who I was).

I up my offer to £190K cash that day and get an email back from the EA saying there is a proceedable offer already on the table (but she doesn't say what).

My £190K offer is rejected. I email back an hour later saying what will the repo company accept and I get an email back saying the £193K offer is proceedable and it is now going to sealed bids due to huge interest. From what I have been told there's only me and another bidder who has suddenly gone from not proceedable at 3.10pm Monday to proceedable by 4pm?!? Hardly huge interest.

The house is in a state as its been vandalized by the departing owner including leaving a present of his poo & wee all over the carpets in all the rooms so needs a lot spending on it. I expect a Bank Surveyor to massively downvalue but don't know the other parties position deposit wise or length of chain if any etc.

Is there any way of contacting the repo company directly so I can avoid bidding against myself? It's with Your Move for sale?

Interestingly bid on another repo and the reposessing agent (a firm called movewithus) emailed saying the position of the buyer is not important only the price. Cheeky git. Prices are obviously on the up.

silvercar

Distance yourself from the sales talk and decide what you want to spend. If someone gets a mortgage offer then they suddenly become proceedable, so it looks like there may be a genuine £193k offer; do you want to outbid that?

poppysarah

Let someone else buy it.

Don't let yourself get drawn into quite silly games.

PasturesNew

I think you generated your own "huge interest".

Milliewilly

silvercar wrote: »

Distance yourself from the sales talk and decide what you want to spend. If someone gets a mortgage offer then they suddenly become proceedable, so it looks like there may be a genuine £193k offer; do you want to outbid that?

Was prepared to go to £195K anyway but I don't do sealed bids on principle so may tell the EA that's the final offer if they go to sealed bids then I withdraw my offer.

Milliewilly

PasturesNew wrote: »

I think you generated your own "huge interest".

I keep reading on here about how property is not selling but I am being constantly outbid - a really nice little bungalow with a river running through the garden (deceased estate) had 7 offers of asking price the Monday after the weekend it went up for sale. Anything with potential is selling in a couple of weeks in this area.

PasturesNew

Maybe the stuff you're looking at is genuinely "priced to sell". On a normal, open market, maybe they'd have put £50k on the price and it wouldn't have shifted for years.

Wee_Willy_Harris

A crazy idea, I know, but have you considered not putting in an offer that is FOURTY THREE THOUSAND POUNDS lower than another offer on the same property. It may make the vendor more inclined not to think you are just twatting them about.

Doozergirl

Wee_Willy_Harris wrote: »

It may make the vendor more inclined not to think you are just twatting them about.

:eek: :rotfl: I can't believe that word isn't !!!! out!

OP, I do feel for you, this story seems to be repeating itself for you.

Repo across the road, according to the agent has been 'exchanging any day now' for nearly three months. God knows what they're playing at.

Milliewilly

Wee_Willy_Harris wrote: »

A crazy idea, I know, but have you considered not putting in an offer that is FOURTY THREE THOUSAND POUNDS lower than another offer on the same property. It may make the vendor more inclined not to think you are just twatting them about.

Hello Willy Stalker - I've only been back on the forum for a few days, didn't take you long to start having a dig did it?

If you believe what people say on this board £150K cash is a good offer if we are entering property armageddon - the public sector, the quantitative easing - I can hear the cries now......

How is a £190K offer with proof of cash twatting them about? Not jealous are we Wee Willy????

Milliewilly

WeeWilly If you bother to read my initial post properly before your poor attempts at humour the £193K offer was not proceedable that is why the house had been put back up for sale . On Friday when I offered £150K there was no other offer. Hope that clarifies things for you.