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House repossesions for sale.

Is there a website for homes that have been repossesed in England, UK?

Asked on Apr 16 2010, General in London | Report content

Answers (2)

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  • There are a few websites which claim to be just for repossessions however they generally are just directories with links to auction sites, they often also require you to pay for the information. In my experience most mortgage companies will use the local estate agents to market repossessions. At the end of the day they are duty bound to achieve the best possible sale price on the property as an equity is given back to the debtor. Also often the perception that a repossession will be a bargain is the very thing that drives the price up so they often are not that cheap at all. The best way to make a good value purchase is to do your homework on the area and to build up a good relationship with the local agents. If they get to know you then they are more likely to call you first when a good value property comes up for sale.

    Answered on Apr 16 2010, Report content
  • The above answer is spot on, also the vast majority of lenders and asset management company dealing with the disposal of a repossession do not want the fact it is a repsossed property promoted to the public. When we are instructed to sell a repossession we simply say it is a sale of a property for a corporate client, the same line if it is any corporate instruction such as relocation.

    Answered on Apr 16 2010, Report content

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