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Are there any bank owned homes?

How can I find properties that have been repossessed by the lending institution?

Asked on Jun 14 2011, General in London | Report content

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  • Most banks don't like to advertise the properties they are selling via repossessions are in fact reposessions. The knack is to look for clues. Number 1 .. most lenders insist repossesion get advertised in the local rag/newspaper once before they can sell. On the text, it will say NO CHAIN .. 50% of the time that means they are a repo (the other 50% can be other reasons). Number 2 look at the pictures of the property - look for white tape on the sink or toilet - they have speacila tape these repo boys to say DO NOT USE THE LOO - again another clue Number 3 - most repossesion are marketed through Corporate estate agents YOUR MOVE, REEDS RAINS, CONNELLS, BAIRSTOW EVES, BARNARD MARCUS etc so pay partucular attention to those agents. Good luck!

    Answered on Jun 15 2011, Report content
  • Spot on advice above, the tape across toilets and appliances is a dead give away. The below link has some good advice.

    Web reference: http://www.lawpack.co.uk/landlord-and-tenancy/property-gu...

    Answered on Jun 15 2011, Report content

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