Jump to content
House Price Crash Forum
Sign in to follow this  

Differences On Bidding On A Repo V Regular Sale?

Recommended Posts

If bidding (not by auction) on a house repo are there any differences in doing so in comparison to a regular sale?

Even though you've bid on a repo, you can still pull out of the deal even if it goes sale agreed, provided you haven't signed contracts. Just as you can with a regular sale.

Any differences here that I should be aware of?


Share this post

Link to post
Share on other sites

None that I am aware of. We put in sealed bids on a couple of repos through an Estate Agent and so have friends/neighbours of ours. We wrote "subject to contract, Finance, survey" written on them. Ours were always too low but my old neighbours bought their flat this way.

The bank is the institution that makes the decision on which bid to accept.The agent should be passing these offers to the bank.

With one flat we put in a bid on the agent rang us the following week to see if they could squeeze any more money out of us. The bank accepted one of the offers and then a couple of weeks later there was another offer to put in a bid as the original one had pulled out.

Good luck.

Share this post

Link to post
Share on other sites

Banks are now just as greedy as any other seller.........(they no longer accept offers and quite often set a fixed price)

we bid on one - and were laughed at

over a year later I noticed had gone through land registry at a lower price than our offer

mind you it did flood late last year (OH how we laughed!)

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   206 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.