Buying a repossessed house

starM

Hi,

I am in process of buying a repo property. All searches has been done but the solicitor cannot find planning permission or building regulation for the rear kitchen extension made to the property. I have also contacted Council, but they do not have the infor. Council said Buiding regulations only go back 1990 - anything before that has been distroyed.

My Solictor has sent a fax to the others partys solicitor to see if they have any details.

I asked about indemnity policy but the Solicitor that will only work if we know when the extension was done.

Is there anything else can be done?

Thanks
MS

mario75

hello
I need to find solicitor anyone knows cheap solicitor in sheffield?or could you recommended?

mario75

Please can anyone help me

Could you tell me one thing,after making an offer verbally or in writting I suppose to receive answer in writting that my offer was rejected right?What if the EA doesnt want to give me any letter,they didnt send anything?

I have a problem with particular EA because last week my offer was accepted ( 76k),than in the same day they said that first buyer ( from public notice) bid me and do i want to give another higher offer.
i gave another offer(79,400) on monday. Lady from ea called me on tuesday and said that at the moment my offer is the highest but till 1oclock i should give any higher offer if i want it because it is last chance to "win".and I take the risk because it may be that may offer stay as a highest or other parties can bid me ( from what she said i understand that every parties was informed that till 1 oclock they need to give their highest offer). she added also that any offer make on wednesday ( day after) will be consider after 2 weeks otherwise ledor never sell the property.
So I give my max 80k and I am waiting 3 days for answer.Today sent mail regarding to my offer and question could they send me letter that my offer was accepted ( this 76k) and it is still on their website.

so she politly answer me that any previous offer made by me wasnt accept and that she still waiting for the answer from repossesion company!!

so my question are
What you think about all this situation?isit normal action with repossesion?should I receive any letters with answer accepted/rejected?
Why my offer 76k is on their website and they still was taking from me highest offer ?????probobly nobady gave highest that this.
She still doesnt allow me to see the house again says that she show me after when my offer will be accepted...
what i should think??

jhe

hi mario. all letters concernig our bids came from ea. they have to wait for the vendors decision. the one thing i learned about buying repos is everything is on the vendors side, they act when they want to. this is how it was with us from offer to completion, you will need nerves of steel. even on the agreed day of exchange with us we sat by the phone,exchange didnt take place as the vendors solicitor said they were too busy! we were told to complete in 28 days but it took around 7 weeks.
i should have added, we offered more than the asking price but it was only the asking price that was advertised not the actual offer we made

mario75

hi
today ea gave me answer that my offer wasnt accept,after 4 days!!!!and what the funny thing is that they wait ttill 1oclock on tuesday for my and other parties offer so she knew stright away that my offer was lower but she waiting till today to said this to me.
next thing that i have called to repossession company and lady respond for sale said that my offer of £76000 wasnt accept where ea said tht it was accept(read previous mesage)
so agency lie???

johnson293

Mario, trying to understand your posts, it appears you had an offer of £76k accepted, but then they told you they had received a higher bid in the same day? Perhaps that is why a letter wasn't issued confirming your offer, becasue it was outbid quite quickly?

Since then, you have bid £79,400 and then £80k, and they have now told you it's been rejected? As forthe time taken to give an answer, as mentioned above, its the vendors discretion - they can wait as long as they want to accept/reject an offer, unfortunately.

Then if £80k was your maximum and you can't afford to go higher, I think you just gotta let this one go and move on.

Its sad, but thats the way it can go with any house purchase, but potentially moreso with repo purchases.

mario75

thanks johnson
process has been exacly like you discribed.

I just dont understand why the ea lady doesnt want it to tell me what the price gave this other person,but in strange way he always bit me about £1000 more!!!

It could be that because he is person who acting with the morgage etc has the right to know any other highest offer made but me like a person who is interested to bid him, not?
or maybe his solicitor has right to know or find ut more than us? my 76k offer was accepted ( last friday) by vendor and then agency gave info on their website so he was find the offer on their website and gave 77k ( on saturday) , so i was automatically outbid by agency not vendor. then on monday I gave 79400 and it was highest offer,and I dont know why not accepted ( probobly ea was waiting for respond from this guy and then pass the offer to vendor)
I have spoken today with lady from repossesion company who only told me that offer from my of 76k wasnt accept, so its mean that ea lie ...so who is "owner"of the price in their website?( still showing 76k)
everything just makes me so confiused...more and more i feer that this person is "friend" of ea or repo company...




I dont believe that everything is so random...
probobly i will move on and try to look around and find similar house...

jhe

hi mario. in our case the ea wouldnt tell us what other bids were when we were buying. the advertised price stayed the same until completion with us,even though we paid more than the advertised price.

mario75

Right i have news for you.
What i have found out that any off my offer beyond £76000 wasnt passed to the vendor. Why??
I have found out that between ea and the lendor is company namet Countrywide and ea pass all the offer to them and they suppose to pass everything to vendor,but they keep my offer inside countrywide without informing repossesion company about them!!!!What a silly thing.I've called to the vendor today and lady "clearly" says that I should put again my offer of £80 something to ea because they dont have anthing in system,and anything like 2 weeks holding offer period doesnt exist i mean that every offer has to be put thru.
so i am more than sure that person who want to buy this house is relative or so with the countrywide company otherwise i dont see the point why any of my offer wasnt pass to repossesion company who decide whether accept offer of particular buyer or no.

I will also now suspect that this other potencial buyer knew every my offer ( where ea denied this) ,but it is so strange ...he always bid us about £500-£1000 even when we increased our offer by £5000-£7000 so hes offer isnt random i think.

Tell me please why countrywide doesnt put my offer through?and why they tell to ea that they put my offer on next tuesday( after 2 weeks ) ....why why why?????(

hethmar

Mario are you sure that Countrywide isnt the vendor - that they lent the money to the person who owned the property before? Or have you managed to find out who the vendor is?

When my son was buying/bidding for a repo he was never given a note of rejection in writing. Only told over the phone. I cant see how the EA could have told you the same day that your £76k offer had been accepted because normally it requires a lot of communication for any offer to be accepted by the vendors.