The Complete Guide to Buying Repossessed Property Bargains

by Catherine Dawson

ISBN: 978-1905261796

This book provides a practical, user-friendly guide for anyone interested in buying a repossessed property. It covers everything you need to know about buying a repossession, from knowing where to look, to understanding how to negotiate with estate agents and lenders, and buying at auction.

It explains the repossession process, how to make a bid for a property and the process through which a property must be advertised once you have made a bid. It also discusses the problems you may face if you choose to buy a repossessed property and the action you can take to reduce or avoid these difficulties.

Practical information includes some personal examples of people who have bought repossessions, photographs of houses and flats that have been repossessed, quotations from property developers and landlords and information about the stages of the repossession process.

 

table of contents

The Complete Guide to Buying Repossessed Property Bargains - Table of Contents

 

CHAPTER 1: REPOSSESSED PROPERTY: FACTS AND FIGURES

  1. What does ‘repossession’ mean?
  2. Why is property repossessed?
  3. The scale of repossessions in the UK
  4. What repossessed properties are available?
  5. What condition are properties in?
  6. Summary

CHAPTER 2: UNDERSTANDING THE REPOSSESSION PROCEDURE

  1. Mortgage arrears
  2. Alleviating arrears problems
  3. Methods of obtaining possession
  4. Stopping a repossessed property from being sold
  5. Summary

CHAPTER 3: UNDERSTANDING THE DISPOSAL PROCEDURE

  1. Valuing the property
  2. Using estate agents
  3. Selling at auction
  4. Maintaining the property
  5. Proceeds and recovery procedures
  6. Case study 1: Mark
  7. Summary

CHAPTER 4: RECOGNISING THE ADVANTAGES AND DISADVANTAGES

  1. Price
  2. Speed of sale
  3. Ethical and moral implications
  4. Damage and stripped fixtures and fittings
  5. Problems with debt collectors
  6. Credit reference agencies
  7. Problems with utility companies
  8. Summary

CHAPTER 5: WHERE DO YOU FIND REPOSSESSED PROPERTY?

  1. Information from estate agents
  2. Information from auctioneers
  3. Information in local newspapers
  4. Using online sources
  5. Registering an interest
  6. Beating the competition
  7. Case study 2: Adam and David
  8. Tips for spotting repossessions
  9. Summary
  10. Further reading

CHAPTER 6: RESEARCHING THE MARKET

  1. Conducting a price analysis
  2. Choosing a location
  3. Avoiding problem locations
  4. Spotting a bargain
  5. Summary

CHAPTER 7: CHOOSING A REPOSSESSED PROPERTY

  1. Developing a checklist
  2. Viewing the property
  3. Spotting potential problems
  4. Asking questions
  5. Researching the neighbourhood
  6. Understanding the Home Information Pack
  7. Arranging a survey
  8. Obtaining safety checks
  9. Case study 3: Prakesh
  10. Summary
  11. Further reading

CHAPTER 8: BUYING REPOSSESSED PROPERTY FROM ESTATE AGENTS

  1. Making an offer
  2. Understanding the bidding procedure
  3. Case study 4 – Wendy and Andy
  4. Increasing your chances of success
  5. Making sure agents act ethically and lawfully
  6. Questionable practices
  7. Summary

CHAPTER 9: BUYING REPOSSESSED PROPERTY AT AUCTION

  1. Understanding how auctions work
  2. Arranging finance
  3. Viewing the property
  4. Arranging a survey
  5. Preparing for the auction
  6. Knowing how to bid
  7. Case study 5 - Georgina
  8. Summary
  9. Further reading

CHAPTER 10: UNDERSTANDING THE CONVEYANCING PROCESS

  1. Appointing a conveyancer
  2. Carrying out searches
  3. Checking title deeds
  4. Problems associated with repossessions
  5. Summary
  6. Useful addresses
  7. Useful websites

CHAPTER 11: MOVING INTO A REPOSSESSED PROPERTY

  1. Assessing risk and safety
  2. Case study 6 - John
  3. Knowing who to inform
  4. Reconnecting services
  5. Summary

CHAPTER 12: LIVING IN A REPOSSESSED PROPERTY

  1. Checking and changing details held by a credit reference agency
  2. Dealing with debt collectors
  3. Knowing your rights and responsibilities
  4. Summary

Appendix: Personal examples

Useful documents

Useful organisations

Useful websites

Glossary of terms

 

To buy this book, visit Amazon or it is available in all good book shops.

 

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