To those BUYING in these difficult times....

beccad

Where do you all find out about repo properties?

redstararnie76

JS - If you look back at the previous posts on this thread you will see who I am, and I thank the posts to thank people for their contribution to a useful thread that I am finding supportive - is that a problem?

JuniorSherlock

redstararnie76 wrote: »

JS - If you look back at the previous posts on this thread you will see who I am, and I thank the posts to thank people for their contribution to a useful thread that I am finding supportive - is that a problem?

Don't be so touchy!

I hadn't noticed you on the thread, sorry, just noticed that you thanked someone and myself when we had opposing views, so thought it might be an in-joke I wasn't getting that's all.

No problems, just curiosity!

JuniorSherlock

Ah found you now and I replied to you pages ago! I don't make a note of names sorry, have a memory like a goldfish!

Beccad, I found mine by accident but am now thinking that repos are more hassle than they are worth. Still no word for us. Feeling very fed up now and feel like telling them to stuff it.
But apparently you can phone your local EAs and ask for details of repo houses on their lists, including ones going to auction.

redstararnie76

JS - I'm sorry, just feeling slightly touchy at the moment - probably combination of lack of sleep thanks to the baby, and stress of trying to buy our house

Rainmaker_uk

Due to no offers and not willing to drop to a silly price when we don't have to, we will be renting our house out and buying another to live in.

This will obviously be a lower budget then if we were selling and buying but anyway...

The question I actually wanted to ask was how much under the asking price in todays market should I be looking to offer.

There is a lot of competition for sellers in this price range (sub £200k) as there are loads on the market.

I know that if someone had offered 10% under our asking price we would have taken it but how low can you go?

Does anyone have any real life experience of this?

SG27

Rainmaker_uk wrote: »

Due to no offers and not willing to drop to a silly price when we don't have to, we will be renting our house out and buying another to live in.

This will obviously be a lower budget then if we were selling and buying but anyway...

The question I actually wanted to ask was how much under the asking price in todays market should I be looking to offer.

There is a lot of competition for sellers in this price range (sub £200k) as there are loads on the market.

I know that if someone had offered 10% under our asking price we would have taken it but how low can you go?

Does anyone have any real life experience of this?

I'm sure people wont drop to silly prices!

It's frustrating when people wont accept the fact that their house isnt worth what they think it is and wont drop to a "silly" price as I am sure you will find out.

Offer 10% off if thats what you would have accepted and stop being such a hypocrite!


If I see a house that is properly priced I would offer full asking price if I see a house that is too overpriced I wont even bother viewing. Which is obviously the problem you had.

Philippa36

Grimbal wrote: »

Oh, I second the frustration of all the waiting that has to be done ! We're part way through selling, and have just started the process on buying. Our potential vendors have offerred on a place & are waiting to hear back. I just hope that it's soon!

Does anyone think that it's realistic to hope for a pre-Xmas completion (given a 3 house chain, and hopefully no surprises?)

We're really really hoping for a pre-Xmas completion We're in a 4 house chain, 1st buyers have mortgage in place, 2nd buyers have mortgage in place, our mortgage went in on Friday and our vendors have already bought but they want a 4 week gap between exchange and completion so they can find a rental property - E/A informed us of this yesterday so don't know if they will be flexible.

It's 9 weeks til Christmas :eek: Good luck

sonastin

JuniorSherlock wrote: »

No advice for that one, just huge sympathies!

Does anyone know how long an offer on a repossession can take? We put ours in a week ago today and have heard nothing. I've given up ringing the EA as they are always 'on the case' apparently. There has been no other interest in the house according to them.

The offer is below the asking price and I appreciate there is red tape involved but surely by now we should have an answer?

We are meant to be going on holiday on Saturday!

I know I put my offer in on a Tuesday (viewed Sat, phoned EA on Mon to find what paperwork was needed with offer, offered Tues) and I know it was accepted on a Thursday (was driving down to Lyme Regis for a holiday at the time!) but I can't remember whether it was 2 days to get it accepted or a week and 2 days. Doesn't really help you though!

beccad wrote: »

Where do you all find out about repo properties?

Mine was just another property on Rightmove. The odd thing was when I phoned to book the viewing, I asked if it was a repo and was told "I'm afraid we can't give out that sort of information" (= yes I think!). Almost as soon as I arrived, the EA said "as you know it is a repossession..." - so why not just tell me that on the phone!

Liv1977

westlondonbuyer wrote: »

It's very odd that they're taking the TV aerial - surely the biggest element of the cost is in paying someone to go up there, disconnect it and bring it back down again, not the cost of the aerial itself?

Good point. My brother reckons it might be the case that the vendors recently had a good ariel installed and are able to install it in their new property

Sure they haven't just forgotten to put it on the list? I don't believe our vendors will even visit the house again to be honest (they live hundreds of miles away) and they've not put the ariel on our F+F list, it's very comprehensive inside, but I just think the outside stuff on the roof forgot to cross their mind (they haven't even noted it's had a sky dish fitted in the past). It's no biggie to us if they do or don't mind you - so we're not going to have a "they've taken the lightbulbs and lawn" moment either way.

The FF list has a tick box for tv ariel, phone line, radio atennae etc. All boxes were crossed meaning not included in the sale price.