Buying a repossessed house

graham17_2

Hey,

Quick question (sorry if this has been asked before).

Once you have completed and got the keys on a repo, would you always change the locks?

I met the lady that did live there and she's been extremely helpful. Haven't dealt with her ex, but he seems to have done what's asked with no problems.

I was in to look over just over a week ago, and it's all been left in very good condition if that helps as an indication as whether to change them or not.

The doors are uPVC, do not sure what that normally comes in at to change them?

Cheers,

Graham.

GDB2222

Interesting. The obvious answer is yes do change the locks. Do you have lots of valuables?

johnson293

As far as I'm aware, the locks are changed when the property is repossessed anyway, to stop previous owners going back and doing anything malicious (not everyone would, but some would/do).

So the house may/should have new locks anyway, but it may be worth asking the Estate Agent if they know whether they were or not.

graham17_2

Hey,

Yep, there is plenty of valuables (namely tv and audio equipment).

Not sure if they've been changed or not.

Thanks again for the advice,

Graham.

Hopejack

Graham, put it this way, would you like someone to have open access to your house who isn't a friend or relative whom you gave keys to? I wouldn't and would definately get locks changed - also from an insurance pov, how would your insurer act if they found out and items had been removed from your home??

I'm agreeing with the advice given to Mario re AIP but tbh these days what does that actually show? This forum is littered with poor people who've had offers accepted and then go to proceed on their AIP and they get knocked back!! :mad: What is the point of an AIP when it's not enforceable!!

jamesperrett

graham17 wrote: »

The doors are uPVC, do not sure what that normally comes in at to change them?

Often you just need to change the lock barrel which is just a case of undoing a screw, sliding out the old barrel, sliding in the new one and then doing up the screw again.

Cheers

James.

mario75

jhe wrote: »

hi mario. johnson 293 explained things clearer than me. yes you have to have your offer accepted,then inform your bank, who will instruct surveyor to value the house, this you have to pay for wether you eventually complete on the house or not. if the survey comes back saying the house is not valued at what you offered the vendors are very unlikely to drop their price, if the valuation comes back at what you have offered you then should get the mortgage offer[which normally involves a set up fee] and solicitors become involved. if at any time somebody jumps in with a higher price that you cant or dont want to better you will lose all the money involved so far.

Hi all
so my offer has been accepted yesterday( £76,000) but...one of intereste parties gives a little bit more- only this info lady from agency said to me. and if i want to bit him i suppose to give about 3000-4 000 more( her suggestion £79,800), now my question
everytime when offer is higher they change price on their website ( i mean that they inform that they act with mortgage ...£76000 and any parties want to give more...)
so if is other person who bid me why they shows my price?
yesterday i have also asked why i didnt received any answers in writing that my offer was rejected(like it was 2 time before) ladies was very suprise that i am asking..so it could happen that my offer wasnt passed to bank only to push me to give higher price?
and why now online is my price if was higher given?

mario75

I just dont want to bid my offer up.
is any way to find out what is the real offer now?

Milliewilly

I would wait and see if the price changes online before you make your next move. Have you got your finances sorted?

mario75

yes .i have done AIP and my mortgage advicor is now lady from the same ea.she phoned my today morning and discribed situation.