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Hi. I've found repo that has been under offer for nearly two months now. What can take so long? Surely anyone buying repo is aware of fact that it has to be done quickly to reduce risk of price being bumped up. Or is it just another way of stopping potential buyers from making too low offers? :unsure:link

Edited by LittleSteroid

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Hi. I've found repo that has been under offer for nearly two months now. What can take so long? Surely anyone buying repo is aware of fact that it has to be done quickly to reduce risk of price being bumped up. Or is it just another way of stopping potential buyers from making too low offers? :unsure:

I'm not clear what "Under Offer" means. Does it mean someone has made an offer and the seller is thinking about it or waiting for a better one to come along, or is it an agreement until surveys are done and the i's are dotted?

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Nice looking prison.

It does look like a prison doesn't it - Colditz perhaps? I've found an aerial view via Google maps - from the sky that bit in the middle looks like this:

db_germancross.jpg

Edited by mikthe20

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Normally if there it's a valuation problem then it falls through in 2-4 weeks. The other sticking point i'm seeing a lot of on repo's is when a house is leasehold, short lease etc. This takes longer to come to light and even then the freeholder is approached to see if they would sell it before the sale falls through, this takes time. I have been watching one repo in my area that went under notice November 20 and is still under offer, sticking point being the lease of only 23, but i assume the freeholder has agreed to sell his interest.

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Love the bath, reminds me of the old jukeboxes where you could see all the internal workings while the record played.....

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It does look like a prison doesn't it - Colditz perhaps? I've found an aerial view via Google maps - from the sky that bit in the middle looks like this:

db_germancross.jpg

LOL i get it now.

Just noticed the concrete flower bed/prison in the middle!

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  • 285 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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