Finding repossessed houses?

LSmith4285

I have been renting a flat for six and a half years I have always wanted to buy but being a student I wasn't able to. I am now if a full time job but I am priced way out of the market. One of my dads ideas was to look for repossessed houses as the lenders will want to get their money out asap.

I have been searching around the interweb but I have been struggling to find any information, I have found LOADS of sites offering details for cash but I'm not planning on doing that.

Does anyone know how you go about finding repossessed houses? Or anyone know any of these sites that are actually legit?

Thanks

plane_boy2000

Repos are sold through normal estate agents, an dthe days of picking up a bargain are long gone. The lender has to prove that he got the best possible price for a property so the only way to do that is through an agent,

budget_counsellor_shaz

You can also pick up repos or cheaper houses from house auctions (but take care with house autions and check the legal packs!!!)

'Allsop' auctions in London is worth checking out they have houses from all over the country. I tried to copy the link but my computer wouldn't let me.:o

There are loads of others too.

Also if you search using the primelocation website you can use the advanced search using words like 'needs, requires' etc I do this and they update me everytime a new house within my search category comes up. Much more efficient than rightmove and you can check the latest sold prices too:T

Hope this helps

Shaz

noyk

Try this thread for auction links - http://forums.moneysavingexpert.com/showthread.html?t=485296&highlight=auction

mr.broderick

Doozergirl will be along in a min ....

Doozergirl

One thread I wasn't going to post on!

The repo's that I have come across recently at auction have been unsuccessful selling at full AP with a regular estate agent. All the seven day notices I've seen in my local paper (and I do check them) have been close to asking, or asking price offers. plane_boy2000 is correct in my opinion. London you used to be more lucky, but you could sell a cardboard box for full asking price recently.

For auction listings, there's a great list here. http://www.property-investor-news.com/auctions.htm The A-Z list on the left normally gets you to the company's website.