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House owned by bank but not for sale

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  • 27-09-2016 8:15pm
    #1
    confused321
    Registered Users Posts: 6 ✭


    Hi i am trying to find information on a house i know is owned by the bank,it was last up for auction and didnt sell in December 2014,i have contacted the auctioneer and solicitor on the website and they both said they have had no further instructions which probably means the house was taken off the market.I have also contacted NAMA who say they are not in charge of the property. Anyone know why this might be? Surely the bank want to sell and not just leave it idle. I have no idea where to go next and any ideas would be appreciated


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    #2
    Walter2016
    Closed Accounts Posts: 522 ✭✭✭Walter2016


    There may be legal issues around it.

    Usually you can find a fair whack of information on owner / mortgage charge of property on the land registry site and then cross reference it with other information.

    I did that recently on something similar. Found there were issues with title that took a few months to sort and then property went to auction. Went for above what I was prepared to pay though.


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    #3
    confused321
    Registered Users Posts: 6 ✭confused321


    Old owner is actually a family friend and they built the house,voluntary surrender about 6/7 years ago with no contact from the bank for a long time,pretty straight forward as far as them things go. Its already been to auction for a stupidly high price and didnt sell so i could be wasting my time here but im desperate to try get it


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    #4
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    IF the house was given back to the bank,it sounds like the loan was not paid off,
    say the loan is 500k the bank may not want to sell it for less than 500 even if its worth 420k now.
    My friend gave house back to bank after paying loan for 8 years ,
    house was empty for 2 years
    even though bank got a good offer on it ,90k.
    after 2 years it was sold for 89k.
    ie when the house is sold the bank have to write off 80k,
    eg 500-420k , for example.
    OR perhaps thinks house prices may rise in the area .
    bANk may be think house is worth x when its worth y .


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