Trying to buy repossessed house

Wexy86

Hi

Looking for a steer if anyone can help.

Seen a house locally that I'm very interested in, called into the neighbours who advised it has been vacant for around 5 years, owners stopped paying mortgage and repossessed around 2011.

I done a land registry search and located the owners(I think most recent anyway) and it notes Irish life permanent as the bank. Called permanent tsb(Google tells me this is now Irish Life)to try speak to someone regarding this and not getting nowhere. I only spoke to agents who deal with arrears/repossessions - they couldn't/wouldn't look up anything for me as not the owner etc

Any idea what it do next or who to contact? Would there be any merit in calling into local branch?

Thanks
Wexy

cml387

Wexy86 wrote: »

Hi


I done a land registry search and located the owners(I think most recent anyway) and it notes Irish life permanent as the bank.

So in fact it hasn't been repossessed at all?

Wexy86

cml387 wrote: »

So in fact it hasn't been repossessed at all?

True - this obvious thought never occurred to me, thanks!

Would the most recent owner/bank always be noted on the land registry? Dated 2002

Jet Black

It'll still be in their name. House I bought was repossessed 6 years ago and when I signed the contracts I had to wait 2 weeks while they found the current 'owners' to sign it to me. It's going to be still in their name until they sign it over.

OP you probably won't get anywhere with the bank. You'd need to find out who is in charge of selling their properties contact them and hope they are selling it. They'd be better off going to open market at the moment as there would be more interest.

riclad

The house is empty ,
the bank owns the house,
You could maybe get a solicitor to ask the bank could i buy the house.
The person who borrowed the money could have died or moved to another country .
I know someone who lived in the usa ,it took 2 years to sell the house .
this person stopped paying the loan.
The house was empty for 2 years .
it was on daft.ie for sale.
House was sold, bank wrote off ,maybe a few grand.
interest on the 70k loan.

Gafman83

Hi all,

(2 years on I know) but I have recently seen a property and have managed to contact the past owner who tells me it is with the banks Allied Irish Bank to be exact. Anyone any idea how or who I contact to make an offer on it??

Wexy86

Gafman83 wrote: »

Hi all,

(2 years on I know) but I have recently seen a property and have managed to contact the past owner who tells me it is with the banks Allied Irish Bank to be exact. Anyone any idea how or who I contact to make an offer on it??

For what it’s worth I got no where and house is still vacant. Got a solicitor who got no more than I did, got in contact with the owner and he said he handed the keys back to the bank years ago and hasn’t heard anything more. There is some move move on the house as the outside was tidied up 2/3 months ago. Neighbour(family friend) asked the men who they worked for, they wouldn’t divulge. Waiting game for me now.

I’d still be interested to buy the house so hopefully someone can give us a steer on where to go!

mel123

In my experience I’d say it’s in limbo as such. The owner might have given the keys back, but the banks haven’t done anything yet. I know someone who’s been in limbo with the banks on their property for 8 years now. Keys gone back to the bank (at the banks request) but the properties are still lying idol and no communication from the banks about what the aistuation is regarding money owed etc on the property. These things take years to sort out, it’s actually comical. From what I gather from my friends story staff in the bank move around a lot, so John could be dealing with reposed property, moves to a different department and it’s all back to square one. It can end up going to court, takes more time (seriously the banks are so unorganized) and this goes back and forth like a stupid game. At this point you won’t get a ‘deal’ on the house like you could have a few years ago, it will go on the open market and get sold to the highest bidder. I have a friend in property management and nearly all his work now is for the banks getting houses ready to go on the market.

Darkglasses

I expect they will have to put it for sale on the open market, eventually. They have a duty to get the best price they can for it.

Gafman83

I have put a solicitor friend of mine onto it he is going to do a bit of digging around, not going to hold my breathe.

DariaS

https://www.boards.ie/discussion/comment/106956841#Comment_106956841

Did you get anywhere on this with the help of solicitors?