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duty to get highest pricee for repossession??

12467…10

Comments

  • j_carnee
    j_carnee Posts: 51 Forumite
    Thrugelmir wrote: »
    The bank is within its rights to accept or decline any offer.

    One assumes in this case to minimise its legal costs.

    so it can take 20% market value....and leave owner with extra debt. cool....
  • j_carnee
    j_carnee Posts: 51 Forumite
    antrobus wrote: »
    If the question is, why won't the Bank deal with me direct, why do they insist on my using a solicitor? Then I'd have thought the answer was money laundering regulations.

    can fully comply with m.l. regulations
  • j_carnee
    j_carnee Posts: 51 Forumite
    picklepick wrote: »
    Just because you keep saying that you can do that, doesn't mean that the bank has to believe you!

    can YOU give me 1 actual reason why i cannot complete within 24hours?????
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    j_carnee wrote: »
    .....where is downside for them???

    Money laundering perhaps.
  • j_carnee
    j_carnee Posts: 51 Forumite
    RabbitMad wrote: »
    Why can't you locate former owner - write to them at the address and hope they have forwarded their mail.

    Yes there is a duty, it is for the former owners to enforce

    empty property...little chance of getting post.
  • picklepick
    picklepick Posts: 4,048 Forumite
    1,000 Posts Combo Breaker
    j_carnee wrote: »
    can YOU give me 1 actual reason why i cannot complete within 24hours?????

    No. I don't know you. That's the point.
    What matters most is how well you walk through the fire
  • ILW
    ILW Posts: 18,333 Forumite
    j_carnee wrote: »
    can fully comply with m.l. regulations
    How do the bank know that, what come back have they got if you do not and drop them in it?
  • j_carnee
    j_carnee Posts: 51 Forumite
    Thrugelmir wrote: »
    Money laundering perhaps.

    where money laundering ACTUALLY OCCURS!!!regulations easily complied with by honest citizen!!
  • RabbitMad
    RabbitMad Posts: 2,069 Forumite
    j_carnee wrote: »
    so they take lower price,dont tell owner,leave him with extra debt...and its ok???!!!

    That is the former owner's problem not yours. Its not OK but nothing you can do about it.

    If you genuinely can offer 10% more than the existing offer and can complete in 24hrs then tell the bank / EA that you will be taking out the advert in the local paper on Tuesday - if that doesn't grab their attention then nothing will - but if you follow up on your threat then I would expect a result.

    Spending you time writing semi literate posts on this forum isn't going to help you get the property.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Oh for goodness sake! Is this thread still going?

    Look jc, you asked a question, you got a load of people answering. Pretty well all of them saying the same thing (with variations on the reason).

    But it's not what you wanted to hear.

    OK - ignore everyone here and take it up with the bank. Or the repossesee.

    But arguing your point here and repeating the unprovable claims that you "know what you're doing"; "can Complete in 24 hours"; "have done it 6 times before"; "don't need insurance" etc gets no one anywhere.

    This thread should die.
This discussion has been closed.
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