Buying house from official assignee

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rosewater

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Hi, An acquaintance is bankrupt, he had several properties which have been assigned to an official assignee and will be put back on the market. The house is not occupied, I would like to buy the house and wondering if there is a way to approach the official assignee before it goes to market and offer them the valuation price. Anyone have any knowledge on this?
 
if your acquaintance allowed himself to go bankrupt with unencumbered property he must have been either poorly advised or, alternatively, his financial circumstances must have been extreme. Given the costs of bankruptcies most creditors would have supported a PIA etc.

The likelihood is that his property is charged to a bank who will probably appoint a receiver.

You can check at www.landdirect.ie if the property has a charge registered against it. If you carry out a search and determine that there is no charge on it, then you could contact the OA and ask for details of the agents appointed to sell it. The OA will not sell property "off market" i.e. it will be advertised first etc

If the bank appoint a Receiver it should also be advertised for sale.

Jim Stafford
 
I have since done the search on landdirect.ie and discovered that there is a charge against it"
Charge for present and future advances repayable with interest." `and the 'bank name' ownership against it.
(dated 2009) - what does that mean?
 
The charge means that there is effectively a mortgage on the property to the bank, who will now probably appoint a Receiver.

Jim Stafford
 
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