want to buy a repossessed house

poppysarah

Only offer as much as you're happy to pay.
There may be another offer on it.

Let someone pay silly amounts if thats the right thing for them.

mlz1413

If you feel very strongly about your price being taken, write the property address, your price and your name and address down and take them to the estate agents.

If they refuse to accept them post them through the door of the house for sale in an envelope to the owner - if the property is still lived in.

As for auctions, not all houses go cheaply at auction so do not assume it will sell for less than your offer. If you have the money to buy quickly, auctions normally insist on 6 weeks, then go to the auction but do not bid more than you can afford or is sensible to pay - there will always be another property for sale soon enough.

gsusamc

Thanks, good idea but the property is not live in already,,

About going to the auction, I do not have any idea how to know where to go, when it would be if it is, etc.. someone can help where I could find out??

I believe this flat is likely to be sold cheap in an auction because it is a mess inside,, needs also a lot of work and if pictures of it are shown not many people would bet much.

For its condition I also do not believe the state agent has a higer offer,,, it is not worthy to pay more because you will have to spend a lot of money to make it a decent home to live, so a higer offer wouldnt be an investemt.

I believe they are liying to push us to put a higer offer,, any other advise?? I donno, do they must take my details??do i have any right? there must be constancy of all the offers made for the repossesed house? I donnoo,,,, I any comment or knowledge would be welcome!

turnbull

Slight deviation from the original thread here, but if you buy a reposession at auction which has charges registered against the title deeds, will these be cleared by the mortage company on completion, or do they become the responsibility of the seller?

mlz1413

gsusamc if the flat is worth buying to you it is worth buying to someone else. Have you been to view the flat?

How do you know it is going to auction if you don't know where the auction is - are you just guessing? Auctions advertise so that prospective buyers turn up to bid.

Estate agents should take your details, but they may also ask you to prove you are a serious buyer. Again if you want your details taking go back to the EA and insist they take them.

If your main concern is there is no other offer then wait a week before you do back in.

gsusamc

ok,I might not expalin myself properly, sorry about that. I ll try again!!!

The thing is,,, we view a flat, they told us it was a repossession, we liked it anyway and decided to make an offer, we phone to the state agent and we made our offer, they suddenlly said: "no,no, this offer is very low, and we just got another offer that is higher,,,we will not take even your details"

The house is not going to auction yet, but I was just doing a supposition,, if they dont get my details,, and the other offer they suppose to have withdrawn,,,, the house may go to auction,,,,and my offer wasnt even taken into account,,,, what it is not fair,, so what i am asking is if they must take my details..... if there must be constancy or evidence of all the offers that are made regarding the repossessed house,??? is there any law that compels the agents take my details even if there is a higher offer if in case this offer withdrawn??

Thanks!!

mlz1413

http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/BuyingYourHome/DG_4001323

this explains all the things you are asking and yes an estate agent is legally bound to present any offer to the person selling the house.

gsusamc

mlz1413 wrote: »

this explains all the things you are asking and yes an estate agent is legally bound to present any offer to the person selling the house.

Thank you!! however, is this the case with repossesed houses as well??? Even if a higher offer has been presented already to the seller? Even if the seller is the bank and they stated they wont accept offers lower than a minimun??

sharpe106

if they have already given them a higher offer why would the bother passing on a lower offer?

gsusamc

sharpe106 wrote: »

if they have already given them a higher offer why would the bother passing on a lower offer?

Yes I understand your point, my offer may be lower and they may not be interested NOW because a higer offer have been presented, however,, what i mean is what happen if this offer, for any reason, is withdrawn? The estate agent have not get even my details to contact me and have in consideration my offer....

So what I mean is if do they have, at least, to take my details???,,,even if they dont present the offer to the seller...... You never know regarding offerS, people change their mind, find other better place, etc,, it is easy that offers withdraw...

I donno anymore,,,,,, lol:huh: