I got it wrong the first time. It won't happen again!No use!.
Interesting, when I 1st tried the link it did not work!
Inside contacts in the banks would be the best source.
I don't know the in's and out's of the process but I gather that rather that the bank straight our reposessing the property they will arrange a sale to this guy and the original vendor will settle up with the bank?
Is this encouraged by banks themselves or is it on a nod and a wink basis? Any bankers out there that can confirm if such houses are sold through auctioneers or in specialised sales?
Same here - the post above makes little sense as it stands!
This doesn't make sense, when the banks get a court order to sell they are under an obligation to try and get the best price, they can't just decide to sell to a certain individual.We looked at a house before; Father in Law knew the guy seeling it, and apparently this guy buys up houses on behalf of the bank and then sells them on himself.
I don't know the in's and out's of the process but I gather that rather that the bank straight our reposessing the property they will arrange a sale to this guy and the original vendor will settle up with the bank?
This doesn't make sense, when the banks get a court order to sell they are under an obligation to try and get the best price, they can't just decide to sell to a certain individual.
rather that the bank straight our reposessing the property they will arrange a sale to this guy and the original vendor will settle up with the bank?
I don't believe the bank can force someone to sell to someone else to settle their debts without a court order, as seems to be suggested by other posters on this thread.
I don't believe the bank can force someone to sell to someone else to settle their debts without a court order, as seems to be suggested by other posters on this thread.
There were 126 repossession orders granted by the courts in the firsst 6 months of this year, in comparison to 59 in the same period in 07. Therefore we are not talking a huge amount of houses. It's quite possible that the number of houses actually repossessed by banks is less then this if the borrower can sort out their affairs in time after the order has been granted
Does www.Courts.ie publish the repossesssion orders anywhere. if so, and you could identify the property from them, perhaps then you could try the EAs in the area
And then there's the situation that the bank might rent out the house to the original owners after repossession which would mean it won't be put on the market.
And thanks for the courts tip.