Buying a Repossession House. ( First House )

77 Bower Lane was on the market for 139k as a repossession property with C Residential.

we made a number of offers starting at 200k and working our way up to 208k this offer was agreed with the vendor.

when I returned home from work i received a call from c Residential saying the there had been an over-site by the vendor (The Bank) and because the property had been on the market for more than six months it needed to be re valued. ( Company Policy apparently )

Now this seemed a little bit of a waste of time due to the fact the property would have gone down in price not up.

But hay this is just another fun part of Buying a Repossession.

2 weeks passed and i received a call from c Residential stating my offer of 208k had now been rejected, and they had received another offer of 210k also rejected.

I offered 215k that was also rejected and this is were we decided to step back. ( We had seen another property come on the market 37 Wolseley Road, see next post.

we also picked up the property had been placed with a second estate agent in cannock, just to complicate the process even more.

So we decided to just keep an eye on this House to see what happens.

Move On !!!