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Bidding on a Reposession
Comments
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ciaranmack wrote: »I do now have a mortgage in place and the increased price doesn't affect it.
If you have a firm mortgage offer on that specific property, you should make sure the EA knows that.
As I say, that really puts you in the same position as the cash buyer.
(Could it be that the EA is only aware of your previous failed mortgage application? And not your newer successful application?)
Edit to add...ciaranmack wrote: »(electricity pylon within 60m of property)
But bear in mind that this may not be the easiest property for you to sell in the future.0 -
We bought a repossession (cash) and were bidding against someone who needed a mortgage. In the end the Estate Agent wanted the house off their books asap and when our final offer was accepted they stopped viewings and told anyone asking that it was sold.
They wanted the house off their books within 28 days of the offer being accepted and all the bidding and accepting and (them) sorting out of mortgages was dragging on too much for them0
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