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Is it possible to Buy Repossed Houses In Ireland

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  • 24-08-2009 4:09pm
    #1
    cable842
    Closed Accounts Posts: 745 ✭✭✭


    Is it Possible to buy Repossed Houses In Ireland.

    As Its a Recession and plenty of people are losing there houses at the moment.

    So in comes the buyer where can we buy these houses that are in fact Repossed and who can we buy them off.

    I know that people are losing there houses ever day but some good must come out it.

    Its an Interesting Question... and valid in today's Market.

    Your Thoughts......


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    #2
    Kidchameleon
    Closed Accounts Posts: 5,482 ✭✭✭Kidchameleon


    cable842 wrote: »
    Your Thoughts

    Your a muppet who likes to live off the misery of others


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    #3
    hobochris
    Registered Users Posts: 2,164 ✭✭✭hobochris


    Kidchameleon wrote: »
    Your a muppet who likes to live off the misery of others
    The Ops knowledge of the property bubble life cycle and curiosity regarding what would be deemed as a smart financial move, do not warrant the need for personal abuse do they?

    Id say your best to ask the banks such as AIB and BOI what auctioneers they use Op.


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    #4
    Victor
    Registered Users Posts: 78,387 ✭✭✭✭Victor


    cable842, some sensitivity wouldn't go astray. Kidchameleon, please don't throw insults about.
    cable842 wrote: »
    and valid in today's Market.
    A valid question is "is it possible to pick up low(er) priced properties in today's market?". Ther eis no need to target re-possessed properties - there are plenty of new builds and ordinary transactions that might present good value.


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    #5
    Milk & Honey
    Banned (with Prison Access) Posts: 1,950 ✭✭✭Milk & Honey


    There were plenty of repossessed properties on the market in the 1980's. They are usually sold on very quietly through auctioneers. The banks want rid of the property as soon as possible and there is no desire for publicity. It is unlikely to be any different this time around. The way to become aware of them is to cultivate contacts among branch managers of the financial institutions.


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    #6
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    Most (majority) repossessions at the moment are not PPR and if they are the people haven't made payments for years, even during the bubble times.


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    #7
    seahorse
    Closed Accounts Posts: 1,164 ✭✭✭seahorse


    Kidchameleon wrote: »
    Your a muppet who likes to live off the misery of others

    The way I see it, a certain segment of the people who've had their homes repossessed didn’t mind elbowing others out of the way with their crazily high house bids and couldn’t care less who else was miserable because of the ridiculous market situation their actions helped perpetuate; so no, I wouldn’t hold it against anyone who sought to buy one of those homes now that they've been forced down to a more realistic and reasonable price.

    OP, you should contact the banks, as has been advised.


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    #8
    cable842
    Closed Accounts Posts: 745 ✭✭✭cable842


    I was thinking to myself and thought why not there has to be a way to buy one that has in fact been repossed.

    I did a bit of Research if they bank don't want to fit the bill the council take it and do some deal.

    Now in England and Usa this is common practice. Going to the banks and asking is the best bet and take it from there.

    I hope this thread insights people to go ask about it there,s not harm in what you are doing.

    I'd love if people talked about this subject more and make it less taboo.


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