We are putting an offer on a bank repo house tomorrow, if they accept our offer, how long does it take to close and have the keys in our hands? I know we had to have proof of funds to go along with the offer.
I am interested in getting a repo house and have been looking at a lot of them my question is do you have the pay the remaining amount due on a repo house upfront or do you get signed up for finance? is there a way that I can get a loan so i can make monthly payments instead of having to get the whole amount due up front?
I’m interested in buying a Repo (in the banks possession) but have never bought a house this way and was wondering what the best way to go about it is. The asking price for the house is $406,000 which is around market value, but the house is in disarray and would need all new carpet, new paint, and some drywall work and replacing of fixtures. I’m tempted to just put in a lowball offer but think it might be helpful if I knew what amount of money the bank is trying to recover, what repo fees they want to recover, and what the real estate agent who is selling the house expects to make as commission so I can make the lowest offer possible without getting blown off. Any suggestions on how to proceed?
I am planning on buying a bank repo house. Do I need a real estate agent or can I just go to the bank and buy the repo house through them?
If I buy the house directly from the bank, will I save on commissions because Im dealing directly with the bank or there is not such a thing?
My husband’s car was repossessed six years ago. It has since passed the SOL and it will fall off his credit report in one year. Mistakenly he may have reset the SOL by talking to the collection agency and acknowledging the debt. Maryland law is a little confusing in regards to resetting SOL. When his car was repossessed he owed the original creditor about $7000 the balance has now gone up to $39000. We REFUSE to pay that amount on a repossession. They were willing to settle for $13000 which still seems like a lot for a old debt. My questions are, Did he rest the SOL by acknowledged debt, we have not sent off any payment or put anything in writing all communication has been over the phone? Since this is the only thing on his credit should he settle in order to buy a house now? Or should we play the waiting game and wait a year for it to fall off his credit report before buying a house? The main motivation in buying a house now is that the market is good for buyers and we have the money now to buy a house. Any answers would be helpful.
Good Advice so far and to Cat Dad it seems that sometimes during the day are more active than others. So that is why I asked the question again, hoping to get more responses. I really don’t see the problem with wanting to reach more people for more advice : )
Just because I repost does not mean you have to REspond. But Thanks!!!
In the United Kingdom, is it cheaper to buy an empty lot and have a house built or just to buy a second hand.
Which would have a greater re-sale value?
© 2009 House Repossession UK. All Rights Reserved.
This blog is powered by Wordpress and Magatheme by Bryan Helmig.
