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Bidding on a Repo House

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  • 31-10-2012 10:13pm
    #1
    lisasimpson
    Registered Users Posts: 1,853 ✭✭✭


    Hi

    I was bidding on a house I liked. the house is a repo. hadnt heard anything from the auctioneer in 6 or 7 weeks as I got in contact with them one day to ask what was the latest with it
    They told me it was at sale agreed that someone had contacted the reciever directly with a bid which the receiver accepted
    Just wonder how can you find out who is the reciever on a repo is?


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    #2
    ABajaninCork
    Closed Accounts Posts: 8,411 ✭✭✭ABajaninCork


    Did you ask the agent? They might know...


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    #3
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    That sounds a bit dodgy tbh. Why would the receiver accept an offer without going back to the rival bidder? They had to pay the estate agent regardless, and it is their duty to secure the highest price. It's very difficult to find out the receiver of a property. This could be an inside deal.


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    #4
    Icepick
    Registered Users Posts: 2,456 ✭✭✭Icepick


    try insolvencyjournal.ie if you know the developer's name


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    #5
    lisasimpson
    Registered Users Posts: 1,853 ✭✭✭lisasimpson


    ya i was beginning to think it was an inside job. surely they would be interested in getting the max price they could

    it was a buy to let property in an estate nearly 15 yrs old so doubt it would be a developer selling


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