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 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!