Receivership house sale

L

LByrne

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Hi I am looking for any guidance or information as I really don't understand this whole process.

I viewed a house that was unoccupied for 6 months and was told by the EA that it is in receivership. The EA informed me that the receiver is Grant Thornton. I placed a bid 4 weeks ago and the EA forwarded my bid onto the bank, they have not accepted or rejected my bid at the moment which is 40K below asking price (a lot of work needs to be carried out on property). The EA has said the bank have come back asking for additional information on rent received, cost of cleaning property prior to placing on the market (EA collect rent for certain period of time while in receivership).

My question is why are the bank dealing with it if it is in receivership? should it not be the receivers dealing with the bid?

Has anyone any experience with buying a property that is in receivership? Is it a good sign that the banks have asked the EA for this information?

Any information would be greatly appreciated! :)
 
I have experience of not buying a house in receivership.

I put in a bid, the EA recommended it to the bank, (like you it was the bank not the receiver, dont know why), I made several follow up calls to the EA, we are just waiting to hear, etc etc.

Eventually I gave up calling. That was nearly two years ago. I called the EA before christmas and he said we are not currently marketing that house.

Who knows why banks behave the way they do.
 
Did the house stay up on the EA website? What bank where they dealing with?
The EA said the fact that they are looking for rent received and also cost of cleaning etc.. they must be looking at the file.. not really holding out much hope as it has been a month now at this stage..

Hopefully other people could weigh in if they were in any similar circumstances.
 
The house stayed on the website for at least 6 months. Don't know what bank it was.

Really I dont think you know what the bank may be thinking about the house. Make an offer but dont set your heart on it look at other options
 
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