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Repossessed properties

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  • 09-01-2010 10:28pm
    #1
    michaleen oge
    Closed Accounts Posts: 2 ✭


    anyone got any sites where i can look for repossessed houses? either from banks or building societies or estate agents?
    any help would be appreciated. am hoping to move to the west of ireland or thereabouts when i sell my house in spain. following some favourite houses on daft ie so know price ranges.


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    #2
    meercat
    Registered Users Posts: 4,745 ✭✭✭meercat


    Hi op.Doesnt seem fair that you are looking to take advantage of other peoples misfortune.Hope there is no such site.Why not take a look at some of the houses currently for sale and if you find one make a decent offer.


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    #3
    Rory1
    Registered Users Posts: 188 ✭✭Rory1


    Threre is nothing wrong with buying a repossessed house in my opinion. To OP's question, I have never heard of website or agent. Not many houses have YET been repossesed.


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    #4
    Wile E. Coyote
    Registered Users Posts: 1,560 ✭✭✭Wile E. Coyote


    There are no sites like this. All re-possessed houses are sold on the open market at full current market value.


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    #5
    Seillejet
    Registered Users Posts: 639 ✭✭✭Seillejet


    Looking for a list of repossessed homes for a first post is a real way of setting yourself out to be a boards favourite.


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    #6
    Smcgie
    Registered Users Posts: 1,379 ✭✭✭Smcgie


    meercat wrote: »
    Hi op.Doesnt seem fair that you are looking to take advantage of other peoples misfortune.Hope there is no such site.Why not take a look at some of the houses currently for sale and if you find one make a decent offer.
    What's not fair about it? These houses have to be sold on because the people living in them where and are living beyond their means. Yes its unfortunate but it doesn't make the person who wants a cheaper house the bad guy. Talk to a local estate agent and tell him your looking to buy direct from the bank


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    #7
    hinault
    Registered Users Posts: 5,932 ✭✭✭hinault


    michaleen oge wrote: »
    anyone got any sites where i can look for repossessed houses? either from banks or building societies or estate agents?
    any help would be appreciated. am hoping to move to the west of ireland or thereabouts when i sell my house in spain. following some favourite houses on daft ie so know price ranges.

    do your own dirty work.


    Even if I knew about a re-possession, I won't tell the likes of you.


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    #8
    DiarmaidGNR
    Registered Users Posts: 382 ✭✭DiarmaidGNR


    I've also been looking for such sites, not for houses, - but for cars! -Any help?


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    #9
    Smcgie
    Registered Users Posts: 1,379 ✭✭✭Smcgie


    hinault wrote: »
    do your own dirty work.


    Even if I knew about a re-possession, I won't tell the likes of you.
    Why? The people that own the house can't afford to pay for it. Same thing if you buy a car and you can't afford to pay it back. Because the homebuyer was living beyond his means the guy that's interested in the house should burn in hell?

    Its an extremely naive view.


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    #10
    Rory1
    Registered Users Posts: 188 ✭✭Rory1


    Being a little hard on OP. No one wants to see someone lose their home but if it happens it happens and house must be sold by bank. Someone is going to buy it, why not OP.


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    #11
    hinault
    Registered Users Posts: 5,932 ✭✭✭hinault


    Smcgie wrote: »
    Why? The people that own the house can't afford to pay for it. Same thing if you buy a car and you can't afford to pay it back. Because the homebuyer was living beyond his means the guy that's interested in the house should burn in hell?

    Its an extremely naive view.

    It's not a naive view : the repossession of any persons property is a serious issue.

    And for people to attempt to profit from other misfortune - does smack of being the decent thing to do.

    That's just my personal point of view.

    And if people want to capitalise on other peoples misfortune, I'm gonna register my objection to same.

    Anyhow, neither you or I can be privy as to why anything is repossessed.


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    #12
    hinault
    Registered Users Posts: 5,932 ✭✭✭hinault


    Rory1 wrote: »
    Being a little hard on OP. No one wants to see someone lose their home but if it happens it happens and house must be sold by bank. Someone is going to buy it, why not OP.

    Let him/her approach a bank then.

    Instead of trying to fish here.


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    #13
    alexlyons
    Registered Users Posts: 2,182 ✭✭✭alexlyons


    hinault wrote: »
    I won't tell the likes of you.

    The likes of him? the likes of the guy who is retired (from about me section) and wants to get a good deal and not waste his money? the guy just wants to move back here and find a nice house, at a very good price... Shame on you
    DiarmaidGNR wrote:
    I've also been looking for such sites, not for houses, - but for cars! -Any help?

    http://www.merlincarauctions.ie/


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    #14
    hinault
    Registered Users Posts: 5,932 ✭✭✭hinault


    alexlyons wrote: »
    The likes of him? the likes of the guy who is retired (from about me section) and wants to get a good deal and not waste his money? the guy just wants to move back here and find a nice house, at a very good price... Shame on you

    He can approach a bank/building society.

    Shame on you.


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    #15
    Wile E. Coyote
    Registered Users Posts: 1,560 ✭✭✭Wile E. Coyote


    Smcgie wrote: »
    Why? The people that own the house can't afford to pay for it. Same thing if you buy a car and you can't afford to pay it back. Because the homebuyer was living beyond his means the guy that's interested in the house should burn in hell?

    Its an extremely naive view.

    It's extremely naive to think that all homes are re-possessed because people were living beyond their means.


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    #16
    hinault
    Registered Users Posts: 5,932 ✭✭✭hinault


    Wile E. Coyote wrote: »
    It's extremely naive to think that all homes are re-possessed because people were living beyond their means.

    Exactly.


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    #17
    katnia
    Registered Users Posts: 158 ✭✭katnia


    hinault wrote: »
    It's not a naive view : the repossession of any persons property is a serious issue.

    And for people to attempt to profit from other misfortune - does smack of being the decent thing to do.

    That's just my personal point of view.

    And if people want to capitalise on other peoples misfortune, I'm gonna register my objection to same.

    Anyhow, neither you or I can be privy as to why anything is repossessed.

    He's not trying to profit from others misfortune, he simply wants to carry out a transaction where he can get the best value he can, who can blame him? unfortunately in the real world houses get repossessed & while I would acknowledge that it's sad & very unfortunate you can't blame anyone for trying to make a purchase at the best price possible & remember he's not buying from the people that were in the house prior to repossession, he's buying from the bank who actually own the house & if he wants to pay them way less than market value for their asset, I'm all for that, it's the bank he's buying off, not the previous tennants ('owners').


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    #18
    Wile E. Coyote
    Registered Users Posts: 1,560 ✭✭✭Wile E. Coyote


    alexlyons wrote: »
    The likes of him? the likes of the guy who is retired (from about me section) and wants to get a good deal and not waste his money? the guy just wants to move back here and find a nice house, at a very good price... Shame on you

    The OP won't get a deal on a re-possessed house. The bank will will sell at full market value.


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    #19
    HereSince2003
    Closed Accounts Posts: 23 ✭HereSince2003


    hinault wrote: »
    It's not a naive view : the repossession of any persons property is a serious issue.

    And for people to attempt to profit from other misfortune - does smack of being the decent thing to do.

    That's just my personal point of view.

    And if people want to capitalise on other peoples misfortune, I'm gonna register my objection to same.

    Anyhow, neither you or I can be privy as to why anything is repossessed.

    The OP has asked to be helped in buying a house as cheap as possible via repo's. Repo's are as good as it gets.

    I didn't see anything in his post about profit?

    Michaleen, your best bet is to ring the banks or keep an eye on the local courts. courts.ie might be of some help.


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    #20
    smiley girl
    Registered Users Posts: 442 ✭✭smiley girl


    This man, the OP has nothing to do with a persons home being repossessed, it's not his fault people can't afford to keep their houses. Yes, my heart goes out to these people, of course it does, I can only imagine the stress they are going through but at the end of the day, someone is going to buy it, why not him? People are driving repossessed cars, bought from the auctions and getting clapped on the back for bagging an expensive car for half nothing!

    I don't know of any sites OP but I wish you well in your search.


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    #21
    hinault
    Registered Users Posts: 5,932 ✭✭✭hinault


    katnia wrote: »
    He's not trying to profit from others misfortune, he simply wants to carry out a transaction where he can get the best value he can, who can blame him? unfortunately in the real world houses get repossessed & while I would acknowledge that it's sad & very unfortunate you can't blame anyone for trying to make a purchase at the best price possible & remember he's not buying from the people that were in the house prior to repossession, he's buying from the bank who actually own the house & if he wants to pay them way less than market value for their asset, I'm all for that, it's bank he's buying off, not the previous tennants ('owners').

    Indeed.

    The bank will try to get the closest possible price of the house - to offset the loss on the original mortgage.

    All of which is beside the point.

    There are other ways of trying to obtain value for money - rather than looking for houses/land that has been repossessed.

    And houses/land doesn't get repossessed solely because the original mortgageholder "lived boyond their means".


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    #22
    Rory1
    Registered Users Posts: 188 ✭✭Rory1


    hinault wrote: »
    Let him/her approach a bank then.

    Instead of trying to fish here.

    What is wrong with asking people here? What is the difference with approaching a bank?


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    #23
    Rory1
    Registered Users Posts: 188 ✭✭Rory1


    hinault wrote: »
    Indeed.

    The bank will try to get the closest possible price of the house - to offset the loss on the original mortgage.

    All of which is beside the point.

    There are other ways of trying to obtain value for money - rather than looking for houses/land that has been repossessed.

    And houses/land doesn't get repossessed solely because the original mortgageholder "lived boyond their means".

    Getting very emotional about subject. Whatever the reason for someone losing their house it's got nothing to do with some third party interested buyer.


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    #24
    katnia
    Registered Users Posts: 158 ✭✭katnia


    hinault wrote: »
    Indeed.

    The bank will try to get the closest possible price of the house - to offset the loss on the original mortgage.

    All of which is beside the point.

    There are other ways of trying to obtain value for money - rather than looking for houses/land that has been repossessed.

    And houses/land doesn't get repossessed solely because the original mortgageholder "lived boyond their means".

    I must say I'm not for the living beyond their means argument, no one knows individual circumstances & I wouldn't like to judge people as living beyond their means when I am sure there are other issues that don't involve people living beyond their means.

    In my own situation thankfully myself & wife both work but if I or she was to lose her job then we potentially could be in the same situation & I wouldn't class us as living beyond our means, I am sure there are plently of posters here in the same situation - Mortgage on the strength of two salaries.


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    #25
    hinault
    Registered Users Posts: 5,932 ✭✭✭hinault


    Rory1 wrote: »
    What is wrong with asking people here? What is the difference with approaching a bank?

    It is a free country : so he can ask the question here, I suppose.


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    #26
    hinault
    Registered Users Posts: 5,932 ✭✭✭hinault


    katnia wrote: »
    I must say I'm not for the living beyond their means argument, no one knows individual circumstances & I wouldn't like to judge people as living beyond their means when I am sure there are other issues that don't involve people living beyond their means.

    In my own situation thankfully myself & wife both work but if I or she was to lose his/her job then we potentially could be in the same situation & I wouldn't class us as living beyond our means, I am sure there are plently of posters here in the same situation - Mortgage on the strength of two salaries.



    Another poster suggested that reposessions are a result of people living beyond their means.


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    #27
    hinault
    Registered Users Posts: 5,932 ✭✭✭hinault


    Rory1 wrote: »
    Getting very emotional about subject. Whatever the reason for someone losing their house it's got nothing to do with some third party interested buyer.

    Emotional about the subject?

    Not me.


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    #28
    katnia
    Registered Users Posts: 158 ✭✭katnia


    hinault wrote: »
    Another poster suggested that reposessions are a result of people living beyond their means.

    Yeah - I am saying generally I'm not into judging people & don't support this argument, we/they have no right to say this unless they know the individual situation.


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    #29
    Smcgie
    Registered Users Posts: 1,379 ✭✭✭Smcgie


    Wile E. Coyote wrote: »
    The OP won't get a deal on a re-possessed house. The bank will will sell at full market value.

    Incorrect


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    #30
    Smcgie
    Registered Users Posts: 1,379 ✭✭✭Smcgie


    Wile E. Coyote wrote: »
    It's extremely naive to think that all homes are re-possessed because people were living beyond their means.

    Ok each to their own. The repossessions that I have come across generally are those that have taken an excruciating mortgage that up to nearly 10x their salaries. This I have no sympathy and its simply living beyond their means. If not...what would you class it?


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    #31
    TJJP
    Registered Users Posts: 1,523 ✭✭✭TJJP


    Wile E. Coyote wrote: »
    The OP won't get a deal on a re-possessed house. The bank will will sell at full market value.

    'Full market value' is I presume is what the 'market' is willing to pay. In a situation such as proposed, the bank is seeking to liquidate assets, quickly, which may indicate a discount. Yes, full market value, but this isn't 2006 anymore.
    katnia wrote: »
    I must say I'm not for the living beyond their means argument, no one knows individual circumstances & I wouldn't like to judge people as living beyond their means when I am sure there are other issues that don't involve people living beyond their means.

    That's true too, but a 'real market' doesn't care, no matter how unpalatable that might be. Any asset is only worth the market price. In this case the OP is likely setting the price and the Bank might be glad to get it. They need rid of an underperforming asset, they have a buyer.


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