22/02/2022
Properties are usually repossessed when an owner has defaulted on their mortgage and fallen into arrears, or the mortgage lender, who – as a result - applies to the courts for the issuing of a repossession order. This is usually followed by an eviction order. That’s how most repossession houses enter the real estate market as houses for sale.
The sale of the property goes towards paying off the previous owner’s debts, and the lender is legally obliged to get the best possible price. In order to recoup their investment as quickly as possible, lenders will often price the property below market value to encourage a sale.
Do you think you fall under this category? It’s not to late to sell your house before it is repossessed. Get in touch with our professional team today for advice and an offer to buy your property from you!
📲 0808 123 3344
