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Bank Sale

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  • 12-02-2015 5:58pm
    #1
    Kazbah
    Registered Users Posts: 764 ✭✭✭


    Hello all,

    I'm interested in a house which is being sold by the bank.
    Someone told me anecdotally that the bank can't make a profit on selling property. They can only recoup the value of the loan plus interest. I initially offered below the asking price and I haven't heard anything since from the EA. I'm wondering if I should increase my bid to the asking price?

    Does anyone know anything about this? It sounds a bit too good to be true.

    Ta,
    Kaz


Comments

  • Options
    #2
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    You want to bid against yourself ?

    A venders dream.


  • Options
    #3
    mickman
    Closed Accounts Posts: 4,661 ✭✭✭mickman


    Kazbah wrote: »
    Hello all,

    I'm interested in a house which is being sold by the bank.
    Someone told me anecdotally that the bank can't make a profit on selling property. They can only recoup the value of the loan plus interest. I initially offered below the asking price and I haven't heard anything since from the EA. I'm wondering if I should increase my bid to the asking price?

    Does anyone know anything about this? It sounds a bit too good to be true.

    Ta,
    Kaz

    Call EA and ask him has your bid been accepted ?


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