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shifty_FTB

Where Do You Find Repo Houses For Sale?

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the ones they have in belfast are all mainly boarded up and obviously in need of extensive repair and are priced more than others in the street that are perfectly fine.

a friends old house was repossessed, he said there is a For Sale sign up outside but its not advertised online. he phoned up being curious, think he said it was UPS, and he was told asking was £90,000

where else are repo's advertised because all colliers have is crap, or selling in bulk

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the ones they have in belfast are all mainly boarded up and obviously in need of extensive repair and are priced more than others in the street that are perfectly fine.

a friends old house was repossessed, he said there is a For Sale sign up outside but its not advertised online. he phoned up being curious, think he said it was UPS, and he was told asking was £90,000

where else are repo's advertised because all colliers have is crap, or selling in bulk

Depends on area. Most are auctioned in Sussex, or otherwise if unmortgageable condition, they are often placed with small independent agents who deal with builders and cash buyers. Those agents do not advertise on Rightmove. So, think outside the box! It's often fox estate agents doing auctions in Hove Town Hall here.

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When I was looking around for my first home to buy I did my share of trawling through EA offices in search of something cheap that needed work but in a decent location. I got chatting to an EA who told me that repossessed properties were valued independently by surveyors sent by the bank and then given to an EA to sell at the banks valuation. He said they didnt get much input into the asking price except to give their opinion which was usually ignored anyway. Some come on lower than market value but others are just as expensive as non-repo properties. My advice is to go around local EAs in your area and ask about repossessed properties for sale. Only one or two agents in any area will have a contract with the repo companies so you just need to go out and find which ones do. You could do worse than trying UPS as menioned earlier in this thread as i know they sell them for definite. In the end I bought a lovely house from a family so I didnt go for a repo after all. Good luck.

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I think Reeds Rains sell them too - you will often see them advertised again in property news once they have an offer - for example, "we are currently in receipt of an offer of £xxxxxxx, anyone who wishes to make an offer should contact our offices by [date]."

That's how you know it must be a repo as they don't do it with ordinary sales. They are usually much cheaper too.

Edited by HPC hopeful

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Anyone spot a bargain in the up comming thursday night Mallusk auction? Just checked the RTV on a random one, good saving.

http://www.wilsonsauctions.com/property_mallusk.asp

24 castle court cookstown 75k RTV 105k

http://lpsni.gov.uk/vListDCV/propertydetails.asp?di=11&dn=Cookstown+District+Council&wi=0000000368&wn=Killymoon&si=0000004506&sn=Castle+Court&display=732311&rn=24

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Reeds Rains office on the Cregagh Road seem to handle a reasonable amount of repo traffic. This is one of theirs which I know is a repo:

http://www.propertynews.com/brochure.php?r=1&c=2&s=120903702&i=1&p=5526RR200307716&fp=1&sort=h2l

Actually a pretty nice, spacious house, with good sized garden in a decent area. It's been on the market for several months, maybe a year now, but having viewed it, I think i can see whats putting people off. Firstly, it's directly facing the old Lisnasharragh High School which has been boarded up for two years; a large derelict site across the road isn't too appealing. Second, all the rooms have urinal blocks on the window sills as if to mask an unpleasant odour. That seemed a bit odd.

But overall, I reckon at a price of say, 110k, this would be half decent value for someone who didn't mind the unknown quantity across the road.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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