Repossessed Houses Info

donegaldave

I know of a half built house that has been repossessed from somebody that has gone bankrupt. How do i go about finding out who now owns the property as i might buy it.
Do you go through land registry or is there a website or somewhere you phone for that kind if info

Dub13

Talk about kicking a man when he is down....!!

lomb

property isnt sold like that anymore. it tends to be put on the OPEN market and whoever pays the most gets it. if its not put on the open market the vendor usually gets too little which is why u are interested in tracking him down

davidoco

The Official Assignee in bankruptcy proceedings ie court official in Smithfield usually take posession of property and arranges for it's sale in bankruptcy proceedings. painfully slow process but worth a phone call to them if your interested in the property. You might be charged to do the search of the case!

Chipboard

You probably wont want to bother though as there is a huge stigma attached to purchasing a house from a bank that has forclosed on the previous owner, not to mention that alot of people would regard the house as unlucky. I know a house a mile away from me that was sold by the mortgager around 15 years ago and it has been unlucky for subsequent owners also.

I dont suppose you went to see the new Amityville - its on in the cinema's at the moment.

Capt'n Midnight

Chipboard wrote:

I dont suppose you went to see the new Amityville - its on in the cinema's at the moment.

Don't bother - Get the original out on video instead - cheaper too..

dahamsta

I agree 100% with Chipboard. I stepped on a crack in the footpath outside my new apartment and my legs just fell right off there and then. Had to import a seamstress from Poland to sew 'em back on again, what with the skills shortage an' all, but she put a hex on the stigma, so now all I have to do is hop three times every time I enter the apartment, and offer up a chicken to Baron Samedi every second Thursday. Sure that's no trouble at all.

adam

sceptre

Chipboard wrote:

unlucky

Good lord.

I know a house a mile away from me that was sold by the mortgager around 15 years ago and it has been unlucky for subsequent owners also.

How?

MrPudding

Chipboard wrote:

You probably wont want to bother though as there is a huge stigma attached to purchasing a house from a bank that has forclosed on the previous owner, not to mention that alot of people would regard the house as unlucky. I know a house a mile away from me that was sold by the mortgager around 15 years ago and it has been unlucky for subsequent owners also.

I dont suppose you went to see the new Amityville - its on in the cinema's at the moment.

Mum? Is that you?

MrP

Blackjack

dahamsta wrote:

I agree 100% with Chipboard. I stepped on a crack in the footpath outside my new apartment and my legs just fell right off there and then. Had to import a seamstress from Poland to sew 'em back on again, what with the skills shortage an' all, but she put a hex on the stigma, so now all I have to do is hop three times every time I enter the apartment, and offer up a chicken to Baron Samedi every second Thursday. Sure that's no trouble at all.

shoegirl

AFAIK repos in the cases of bankruptcy proceedings take quite some time, also there may be creditors who have interests in the house so it may take some time.

See http://www.landregistry.ie/index.asp?locID=1&docID=213

antoinolachtnai

Was it a real, genuine bankruptcy? Personal bankruptcies in Ireland are fairly rare. More likely, the mortgagee (bank or building society) would have taken steps to recover the money through sale of the property, which they obviously have a charge over which comes before any other creditors. I believe a receiver is appointed to do this.

The receiver (or whomever) has a duty to the owner and the bank to get the best price he can for the property, so I would think he will put it on the open market through a reputable estate agent.

You said the house was half-built. It is possible that the receiver will now raise funds using the house as collateral in order to finish construction and maximize the price. This is what happened in the case of the Four Seasons hotel in Ballsbridge, I understand. If the poor guy who built it keeps his wits about him, he could still end up making a small profit.

If you are really interested in buying the property, it could be that the best person to talk to is the person whose house it was. It is quite possible that they are still somehow involved with the building. But I wouldn't be expecting any great bargains.