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Rental property to be reposessed, how to go about buying??

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  • 08-06-2011 2:04pm
    #1
    alfie 1
    Closed Accounts Posts: 1 ✭


    Hi,
    Just wondering if anyone has any info on this, we are currently renting a house, that will most likely be reposessed by the bank(not sure which bank, as of yet), our landlords other properties have been taken over by another bank. What we'd like to know is, how do we go about registering our interest in buying the house (cash buyers), for a good price from the lender, before it goes on the market??? also, as tennants, would we be informed of the house going on the market, beforehand? thanks.....


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    #2
    Penguino
    Registered Users Posts: 162 ✭✭Penguino


    Talk to the Landlord. He will know what bank is dealing with things.

    If you get an intro to the bank from the Landlord then you might be able to buy it straight from them


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    #3
    WalterMitty
    Registered Users Posts: 1,582 ✭✭✭WalterMitty


    I wonder if bank employees who have cash are getting these repossesed properties cheap before they go to open market? Why bother letting bank sell them on open market when you can buy it dirt cheap and sure bank management dont really care as they are now owned by government.


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    #4
    Treehouse72
    Registered Users Posts: 1,003 ✭✭✭Treehouse72


    WalterMitty wrote: »
    I wonder if bank employees who have cash are getting these repossesed properties cheap before they go to open market? Why bother letting bank sell them on open market when you can buy it dirt cheap and sure bank management dont really care as they are now owned by government.


    That's a very interesting question. Would like to know the answer. There is a lot of room for shenanigans of all sorts at every stage between a repossession and resale.


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