Welcome to the Repossessed collection of UK distressed and repossessed property. The list below contains just a small selection of the many distressed and repossessed property with BMV potential that we have identified as being Repossessed during the past month. Click here to get immediate access to the full list.
What is a Repossession and why can they be purchased at a discount?
Should a property owner fail to pay the interest or capital on any loan secured against the property, the lender (typically a bank or building society but can be a private individual) will have the right to repossess (gain full control) the property and sell it on the open market. The lender normally wants a rapid sale with a short deadline, and their main worry is collecting enough money to pay off the debt secured against the property rather than making a profit or completing a chain. Often, property that has been repossessed is likely to be in bad shape and offered on the basis of ‘sold as seen’.
This presents a real opportunity for the quick moving property investor to pick up a BMV bargain as a result of the short timeframe and possible condition issues that are part and parcel of a repossession sale, which make the property unattractive to normal home buyers.
What is the UK Distressed Property List?
It’s a shortlist of properties listed for sale that we have identified as having potential to be purchased at a discount or BMV due to the motivations of the seller and other factors impacting the sale.
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Displaying 5 of 10 Distressed Properties Identified
Questions, comments or feedback about the list? Send us a message or start a discussion in the UK Distressed Property Facebook group.
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Expecting something else from the UK Distressed Property List?
We may be able to help and are always happy to chat about anything property! Get in touch with us by replying to any of our emails or send us a message in the UK Distressed Property Facebook group.