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Repossession details

How do you find out about houses that have been repossessed or about to be repossessed? Is there a local register for repossessed housing?

Asked on Jan 2 2010, General in Stockport | Report content

Answers (1)

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  • There is no central register of repossessed properties and you certainly won't find out about those potentialy about to be taken into possession (for obvious reasons of client confidentiality etc). There are some auction houses and internet sites that try to specialise in repossessions but the vast majority have been sold via agents in the past year and most banks will try this route first only going to auction if it doesn't sell. With the market the way it has been for the past year or so, most of them have sold easily through agents. Also, it is not really in either the lender's or the previous borrower's interest for there to be a central place for these properties to be advertised as it may be seen as a place to snatch a bargain and they might therefore sell for less than their market value which could be acheived through normal marketing. Your best bet is to register with the local agents but even they may not tell you a particular property is a repossession upfront as they could have been asked not to disclose this unless they are asked directly.

    Answered on Jan 4 2010, Report content

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