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  • FIRST POST
    • MSE Jenny
    • By MSE Jenny 9th Feb 09, 11:05 AM
    • 1,228Posts
    • 3,559Thanks
    MSE Jenny
    MONEY MORAL DILEMMA: Would you buy your neighbours’ repossessed house?
    • #1
    • 9th Feb 09, 11:05 AM
    MONEY MORAL DILEMMA: Would you buy your neighbours’ repossessed house? 9th Feb 09 at 11:05 AM
    Here's this week's hypothetical situation for you to cogitate on:

    Would you buy your neighbours’ repossessed house?


    The house of a neighbour a few doors down has been repossessed after the husband was made redundant, and they struggled to keep their head above water. The creditors are now selling it off at a knock-down price. You’ve been after bigger place for a while, and this would be perfect. Yet part of you feels bad about cashing in on your neighbours’ bad luck. You know them to say hello to, but aren’t good friends.


    Click reply to have your say

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    Last edited by Former MSE Wendy; 10-02-2009 at 6:56 PM.
Page 1
    • Thunderbird
    • By Thunderbird 10th Feb 09, 11:11 PM
    • 612 Posts
    • 265 Thanks
    Thunderbird
    • #2
    • 10th Feb 09, 11:11 PM
    • #2
    • 10th Feb 09, 11:11 PM
    I don't know! May be yes, may be no! I honestly don't know! This is a tough one for me!
    Be nice, life is too short to be anything else.
    • Kavanne
    • By Kavanne 10th Feb 09, 11:32 PM
    • 5,014 Posts
    • 2,551 Thanks
    Kavanne
    • #3
    • 10th Feb 09, 11:32 PM
    • #3
    • 10th Feb 09, 11:32 PM
    Yes.
    ........
    Kavanne
    Nuns! Nuns! Reverse!

    'I do my job, do you do yours?'

  • DCLane
    • #4
    • 11th Feb 09, 12:04 AM
    • #4
    • 11th Feb 09, 12:04 AM
    Yes - because even if I didn't, someone else would.
  • elcoline
    • #5
    • 11th Feb 09, 12:20 AM
    • #5
    • 11th Feb 09, 12:20 AM
    Yes and conscience-free. They are on nodding terms; not friends or family.

    Also, it will only be sold to you if you offer the best price/deal.
  • IWasWondering...
    • #6
    • 11th Feb 09, 12:23 AM
    • #6
    • 11th Feb 09, 12:23 AM
    It's for sale. What's the problem?
    If you don't buy it someone else will.
    • jumbojuice
    • By jumbojuice 11th Feb 09, 1:44 AM
    • 393 Posts
    • 571 Thanks
    jumbojuice
    • #7
    • 11th Feb 09, 1:44 AM
    • #7
    • 11th Feb 09, 1:44 AM
    id go for it - like it was said already, they arent family -- just people you nod at!
  • WelshGandalf
    • #8
    • 11th Feb 09, 1:49 AM
    • #8
    • 11th Feb 09, 1:49 AM
    Go for it.

    Better someone they vaguely know than a random person.

    Even if I knew them better I still don't think I would have any qualms. It's going to get sold to someone at some price - it may as well be you.
  • redmandarin
    • #9
    • 11th Feb 09, 2:08 AM
    • #9
    • 11th Feb 09, 2:08 AM
    Financial and family circumstances have prevented me from buying property - so I continue to live in poorly maintained (insecure) private rented accommodation - on a rolling 12 month let.

    During the 10 years we've been together, my partner and I wanted to buy our own house, but prices kept increasing so much, and so quickly that all but the tiniest of properties were out of our price range - even though we had two incomes. During the last few years, we felt that the market could crash any time and so it never seemed the right time to buy!

    Now it is too late for us, prices are falling, but they are still way too high. We have been good and tried to not run up big debts and have worked hard to save what money we could for a deposit, but now our deposit is not enough and our meagre savings are receiving minimal interest (so that taking inflation into account, they are dripping away)! And we are not getting any younger!

    So, yes I would buy the house!

    But it would have to be at a reasonable price!
    • crystal clear
    • By crystal clear 11th Feb 09, 2:52 AM
    • 535 Posts
    • 136 Thanks
    crystal clear
    Yes i would buy the house if I was in the market to buy regardless of who it belonged to friend family etc etc ....... Thats only because if I didnt someone else would and if it did belong to family or close friend and i was in the position I could maybe rent it back to them or rent my house to them and that way everyone would be happy....

    Crystal
    Ł2.00 savings club =Ł2.00
  • zeeboears
    Yes..you have to buythe house..... You are not responsible for getting your neighbour to this position, someone will buy it why not you?...the neighbour may actually be pleased that someone they know is going to live there.....tell them and be honest though!
    • Taffybiker
    • By Taffybiker 11th Feb 09, 6:21 AM
    • 917 Posts
    • 499 Thanks
    Taffybiker
    Yes. If I wanted and could afford the house, I see no reason not to buy it. I would do the same even if it were family. Like others have said, the previous owners have already lost it through no fault of mine.
    In the case of family though I may consider renting it back to them, particularly if children are involved but that would be on the strict understanding that rent is kept up to date or they would face eviction for a second time. This way, they get a second chance and I have someone buying my house for me.
    • fiish
    • By fiish 11th Feb 09, 7:07 AM
    • 728 Posts
    • 230 Thanks
    fiish
    Yes I would.

    There is nothing I could have done to prevent them getting into that situation anyway (getting repossessed), and as mentioned the neighbours are not close friends.

    You're not taking advantage of your neighbours, although it would probably be wise to not tell them that you've been eyeing their place for years or anything similar
    Debt free and watching my savings shrink!
    • Liquorice Twirls
    • By Liquorice Twirls 11th Feb 09, 7:26 AM
    • 326 Posts
    • 531 Thanks
    Liquorice Twirls
    Yes I would because otherwise someone else would anyway.

    It's not like you gave them bad advice which meant they got into this financial situation or anything so I would feel I could buy the house and have no moral issues with doing so.
    • Enterprise 1701C
    • By Enterprise 1701C 11th Feb 09, 7:38 AM
    • 20,409 Posts
    • 215,612 Thanks
    Enterprise 1701C
    Definitely - they may even feel better if it was going to someone they know.
    What is this life if, full of care, we have no time to stand and stare
  • Shytalker
    Yes. It is unlikely that they would hold it against you. Let's face it, you would kick yourself afterwards for missing the opportunity and, anyway, if you had any pangs of guilt the feeling would not last long. Your old neighbour would have moved elsewhere by then.
    • kingkano
    • By kingkano 11th Feb 09, 7:49 AM
    • 1,920 Posts
    • 844 Thanks
    kingkano
    Yes most definitely. Why not?
    • luxor4t
    • By luxor4t 11th Feb 09, 7:52 AM
    • 10,297 Posts
    • 37,132 Thanks
    luxor4t
    Yes, why not?

    It is an open sale & not as if I was throwing them out of their home.
    • stephb34
    • By stephb34 11th Feb 09, 7:56 AM
    • 1,977 Posts
    • 900 Thanks
    stephb34
    My poor friend is having to sell her house due to her husband running off with another woman (using the term woman loosely dont know if im allowed to put slapper). She can't afford all the mortgage on her own and he's refusing to pay his half or support his child so her only option is to sell or have it repossed, so we're thinking of buying her house off her and letting her rent it back so she still has somewhere nice to live, but this is pulling with my conscience, feel like we're profitting out of her misery, but then think at least she's still able to live in the lovely house she's had nearly 20 years.
    By the way she's been to court he's signed to pay but is now refusing she cant physically extract the money out of him how does that work, she cant afford to go to court again or pay anymore solicitors fees, im gutted for her.
    • toadhall
    • By toadhall 11th Feb 09, 7:57 AM
    • 320 Posts
    • 72 Thanks
    toadhall
    yes, its not as if they are close friends, although i might still buy it
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