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Buying repossessed properties

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  • Buying repossessed properties

    Most HUGE fortunes are made in times of recession and this one will be no different (in fact this recession will present many more opportunities than ever before)... According to the Council of Mortgage lenders a massive 75,000 properties will be repossessed this year - a 12 year high in case you need reminding. All smart property investors understand what this means - a MASSIVE unprecedented opportunity to snap up solid income producing investment properties at absolutely ROCK BOTTOM bargain basement prices.
    Last edited by jason3074; 24-04-2009, 11:35 AM.

  • #2
    There are further falls expected in the UK market...

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    • #3
      could not agree more!

      and not only on the UK-market! there are unbelievable opportunities in Spain....... new apaertments for 40 - 50 % under listprice!

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      • #4
        where can i find these properties for sale without having to pay monthly fees up to join website??

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        • #5
          You might find repossession properties through an estate agent. They don't always go straigh to auction. Another tip I have been given for finding repossessed property is to search for 'no chain' properties!
          Portugal Property for Sale

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          • #6
            Repossessed properties always seem to have a sad and creepy vibe to me - just like properties where you know that the last owner died in it.

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            • #7
              Is now a good time to buy or would it be better to wait a few months longer for bottom of the market. I am looking at repossesions in the region of £80-£90,000 to buy cash but only for a year or 2 years max. So is now the time or wait. Thank you

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              • #8
                My personal opinion is that we've seen a spring bounce - but considering that spring/summer normally represents peak season for buying, the stats are still coming in terribly weak.

                I would therefore expect price declines to accelerate in the winter.

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                • #9
                  Originally posted by jason3074 View Post
                  Most HUGE fortunes are made in times of recession and this one will be no different (in fact this recession will present many more opportunities than ever before)... According to the Council of Mortgage lenders a massive 75,000 properties will be repossessed this year - a 12 year high in case you need reminding. All smart property investors understand what this means - a MASSIVE unprecedented opportunity to snap up solid income producing investment properties at absolutely ROCK BOTTOM bargain basement prices.
                  Totally agree, but not yet

                  Are you ramping by any chance

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                  • #10
                    Originally posted by brian View Post
                    My personal opinion is that we've seen a spring bounce - but considering that spring/summer normally represents peak season for buying, the stats are still coming in terribly weak.

                    I would therefore expect price declines to accelerate in the winter.

                    I agree, but most of the local estate agents seem to be saying its looking good. This maybe to entice buyers back but who knows.

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                    • #11
                      how do i get hold of reposessed property?

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                      • #12
                        Finding Repossesion property ?

                        HI
                        Can any one offer any advice on how we can find repossession property ...before they come on to the market ?

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