Anyone bought a re possessed house before, need advice?
Looking at buying a repossessed house, is there any tricks to get a steal. I think the banks only want their money bank and the estate agent gets the rest .. is this true? And what crazy offers can i put in?
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January 16th, 2010 at 1:44 pm
usually try to find out how much the house went for previously and don’t go higher than that figure.Or find out how much the previous owner owed and put that amount in as an offer.
Good Luck.
I went to a repossessed Auction and the house went for half of what it was advertised for when I saw it listed two years ago.
January 19th, 2010 at 10:38 pm
You can low ball all you want with bank owned properties. You aren’t going to hurt anyone’s feelings. I don’t know the laws in the UK but the type of listing where the agent keeps all the money over the asking price is illegal in the US.
January 22nd, 2010 at 11:19 am
So long as the mortgage is met, that’s all they want. Estate agents on foreclosures? With them involved they will push for fair market value and advertise the hell out of the property to make as mush as they can.
Crooks!