Buying a Repossessed House Would you?

[Canalman]

Met a few mates for pints last night and this topic came up. All 4 of us agreed that at the moment this would be a no no. Definitely would never buy one in a rural area with the understandable bitterness that it would entail.
2 of my mates made the point about Karma etc

Wondering what the view out there is. I believe there is no stiigma as such in England in buying such repos.

[Gnevin]

Met a few mates for pints last night and this topic came up. All 4 of us agreed that at the moment this would be a no no. Definitely would never buy one in a rural area with the understandable bitterness that it would entail.
2 of my mates made the point about Karma etc

Wondering what the view out there is. I believe there is no stiigma as such in England in buying such repos.

Why would you have a problem with it ? I don't even understand why the person's who house it was would be bitter. They failed to keep up the repayments and the house is on the Market if you don't buy it someone else will

[magpie seanie]

Not going to happen for me as we're happy where we are but looking at it from the other side I'd have absolutely nothing against anyone that bought one. I would see nothing wrong with it.

[Donagh]

Was bidding on a farmhouse with 15 acres at an auction last night. The property was going so cheaply that the owners were obviously under big pressure to sell which is probably the same as going for a repo. To be honest we hadn't given it a second thought but obviously as with what happened last night, we didn't get it and someone else did. 

[maddog]

Wondering what the view out there is. I believe there is no stiigma as such in England in buying such repos.

No such stigma at all this side of the water. At the end of the day its like anything. If someone buys a swish BMW and falls on hard times and someone else picks it up as a bargain then fair play. If people would hold it against someone then they are a bit small minded.

[The Real Laoislad]

The priest could always come out and bless the house if it was repossessed or maybe carry out an excorcism if things were really bad.

That made me laugh

[lynchbhoy]

no compunction about it
I'd buy the house as long as it was in a decent area and afforded good long term rental potential

in fact this is something I intend looking out for after Christmas !

[mylestheslasher]

Met a few mates for pints last night and this topic came up. All 4 of us agreed that at the moment this would be a no no. Definitely would never buy one in a rural area with the understandable bitterness that it would entail.
2 of my mates made the point about Karma etc

Wondering what the view out there is. I believe there is no stiigma as such in England in buying such repos.

Why would you have a problem with it ? I don't even understand why the person's who house it was would be bitter. They failed to keep up the repayments and the house is on the Market if you don't buy it someone else will

I'd have a problem doing that, especially if the family in the house were known to me and/or if it was the traditional family home. Thats just me.

[Croí na hÉireann]

no compunction about it
I'd buy the house as long as it was in a decent area and afforded good long term rental potential

in fact this is something I intend looking out for after Christmas !

Do u not think rental is gonna go belly up for the next few years? What with no one interested in buying apartments, immigrants moving on now that jobs are a scarcity and the amount of rental properties currently occupied that will come back to the market once their present occupiers, who are presently holding off from buying, entering the property market once prices bottom???

[Louth Exile]

I would have no problem buying a repossessed house

[The Real Laoislad]

no compunction about it
I'd buy the house as long as it was in a decent area and afforded good long term rental potential

in fact this is something I intend looking out for after Christmas !

Do u not think rental is gonna go belly up for the next few years? What with no one interested in buying apartments, immigrants moving on now that jobs are a scarcity and the amount of rental properties currently occupied that will come back to the market once their present occupiers, who are presently holding off from buying, entering the property market once prices bottom???

But you could also look at it from the viewpoint that more and more first time buyers are going to be refused mortgages and will be looking to rent instead of buy?

[Croí na hÉireann]

no compunction about it
I'd buy the house as long as it was in a decent area and afforded good long term rental potential

in fact this is something I intend looking out for after Christmas !

Do u not think rental is gonna go belly up for the next few years? What with no one interested in buying apartments, immigrants moving on now that jobs are a scarcity and the amount of rental properties currently occupied that will come back to the market once their present occupiers, who are presently holding off from buying, entering the property market once prices bottom???

But you could also look at it from the viewpoint that more and more first time buyers are going to be refused mortgages and will be looking to rent instead of buy?

Yes but when the market bottoms out and all these renters are able to afford properties what is gonna happen to all the rental properties??? Either rents will reduce (we're already beginning to see this happen as people can't sell their empty apartments/houses so they're renting them out and with the increase in supply comes the decrease in rent) or these rental properties will have to be sold on. Either way I would have thought buying to rent after Christmas is too soon as house prices still have some way to go, all IMO of course...

[the Deel Rover]

Wondering what the view out there is. I believe there is no stiigma as such in England in buying such repos.

No such stigma at all this side of the water. At the end of the day its like anything. If someone buys a swish BMW and falls on hard times and someone else picks it up as a bargain then fair play. If people would hold it against someone then they are a bit small minded.

would you have the names of any auction houses that sell repossed cars  in England maddog ?

[SidelineKick]

Would never recommend it.  Dealt with the sale of a repossession a few years back (viewings etc.) Started off grand but ended up getting my car scratched, so did a viewer and also got our cars blocked in by a tractor on the lane, most definitely on purpose.

Sale went through and a few days later "Taigs out" was sprayed on the front door as the new buyer was a Catholic and had bought this house in a very protestant area.

[ludermor]

Would this not have happened anyways?