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    Buying Repossessed Property
    Buying Repossessed Property
    Buying Repossessed Property
    Ebook44 pages50 minutes

    Buying Repossessed Property

    By Anthony Dixon

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    About this ebook

    Finding a home at a bargain price can be quite difficult for the average buyer. With all the other competition out there in the buying market plus the property developers and investors around it can be hard to find that dream property. There are many empty homes in the UK as a result of repossessions on failed mortgage repayments and bankrupt individuals. This eBook is a guide to finding these properties using several strategies and beating off the competition to find your bargain home. The eBook also explains what to do when you have purchased the property and the unique problems you may face when buying a property that was repossessed.

    LanguageEnglish
    PublisherAnthony Dixon
    Release dateNov 26, 2017
    ISBN9781370744183
    Buying Repossessed Property
    Author

    Anthony Dixon

    In the timeless words of Henry Brooks Adams, “A teacher affects eternity; he can never tell where his influence stops.” Embracing this profound wisdom, I believe that a life well-lived is one marked by the continuous exchange of knowledge and wisdom. As the author, I echo the sentiment that if you’ve journeyed through life without imparting something meaningful to the next generation, be it through teaching or learning, you’ve merely existed, not truly lived. Through my writings, I aspire to contribute to the tapestry of wisdom, leaving an imprint that resonates beyond the confines of time. I have written over five hundred Blogs, many dealing with Parenting, Relationships and Safe Driving with the hope that someone will benefit from them. Facebook inspired me to start writing, my first Blog sixty words long was posted on Facebook. From that day on I knew that Social media was a tool to share Knowledge. In the process of writing this Book, I have learned that you can face life, no matter what it throws at you. It’s all about resiliency of the human spirit.

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      Book preview

      Buying Repossessed Property - Anthony Dixon

      BUYING REPOSSESSED PROPERTY

      A Beginner’s Guide to Finding a Bargain Home

      Copyright © 2015 Anthony Dixon

      Printed and published by:

      epubli GmbH, Berlin,

      www.epubli.co.uk

      ISBN 978-3-7375-4551-8

      CONTENTS

      INTRODUCTION

      WHAT IS A REPOSSESSED PROPERTY?

      What is the meaning of ‘Repossession’?

      What happens once a property is repossessed?

      How does a lender obtain possession?

      THE REPOSSESSION PROCESS

      THE ETHICAL ISSUES OF BUYING REPOSSESSED PROPERTY

      WHERE TO FIND A REPOSSESSED PROPERTY?

      Getting information from Estate Agents

      Getting information from Auctioneers

      Reading the local newspapers

      Online sources

      THE STATISTICS FOR REPOSSESSIONS IN THE UK

      RESEARCH

      Price Analysis

      Choosing your Location

      Finding a Bargain

      CHOOSING A PROPERTY

      Create the Checklist

      View the Property

      Get Expert Advice

      Neighbourhood Research

      Home Information Pack

      Survey

      BUYING REPOSSESSED PROPERTY

      Buying at Auction

      Buying through an Estate Agent

      CONVEYANCING

      WHAT HAPPENS WHEN YOU MOVE IN?

      Safety Inspection of the Property

      Inspections for Landlords

      Utilities and Services

      Local Authorities

      TV Licence

      LIVING IN A REPOSSESSED PROPERTY

      Updating details held by Credit Agencies

      Dealing with Debt Collectors

      The Data Protection Act

      The Freedom of Information Act

      USEFUL CONTACTS

      USEFUL WEBSITES

      INTRODUCTION

      There are many repossessed properties on the market that provide people with a bargain. A lot of these properties are not advertised clearly in the UK as many estate agents and lenders seem reluctant to state ‘repossessed’.

      Many of these properties can be offered at ten to 15 per cent below market value. This is either due to the lender looking for a quick sale to recover the money it has loaned or that the property is in a poor state of repair.

      Once you have found a property you may face competition from property developers and investors. You need to know how to be successful in purchasing a property when you have found one you like.

      This book provides a practical guide to finding a bargain repossessed property for residential use. Once you have read the guide you will know what a repossessed property is and what the repossession process is. You will know how to locate these properties and the methods of advertisement used by estate agents and auctioneers.

      Although the market is recovering from the credit crunch there are still repossessed properties on the market. Borrowers are still uncertain about the future and feel they will struggle to meet mortgage payments, especially if interest rates go up.

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