Repossessed House

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réaltín09

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hi everyone..new to this..am house hunting at the moment and found a house last week that the EA informed me was repossessed (couple separated) and so the bank are looking for a cheap sale...its being sold for 80k less than what other houses in the area are going for (although it wasnt well looked after and needs lots of work) ... is this too good to be true? and would it be bad luck to buy a house that has clearly a lot of bad memories in? its number 13!

Any suggestions, comments or advice would be greatly appreciated!
 
It may be going for 80k less than other in the street ,but are any actually been sold at those prices ?
 
well i suppose the price isnt a HUGE deal..im more concerned about the fact that it may be unlucky..stupid i know but thought id put it out there!
 
Wouldn't bother me. If I couldn't pay my mortage and needed to sell it I'd hope there weren't too many people who think it it's bad luck, I'd just want the sale.
 
You'd actually be surprised the number of people who are turned off the "number 13".
I've seen a house up for that had number 13 actually change over to a house name instead, to hide the fact it was number 13. Its not without reason that many buildings (80%+ apparently) don't have a 13th floor and hotels often leave out room number 13 calling it 12A instead or skipping to 14.
http://en.wikipedia.org/wiki/Thirteenth_floor

Not that I believe in any of the superstition, to me its like believing in leprechauns, just making an observation though on the practical market reality that a lot of people are averse to the number 13.

I'd be actually very curious to hear from any EAs on this site as to whether they have come across aversions to "number 13"s.
 
Hi Realtin

If you are buying this as your home, you have to make sure that you love the house. It's great to get a bargain, but don't buy a house you don't like because you think it's a great bargain.

I would have no difficulty with No 13 or a house where the couple had split up or a repossessed house. But it seems to me that you are superstitious. In the ordinary course of life a lot of things go wrong and people are unlucky. They tend not to dwell on the things that go well or their own luck. There is a real danger that if you bought the house, then you would attribute any ordinary random negative event to the bad vibe of the house.

As a side issue, very few houses have actually been reposessed and this might just be a tactic by the estate agent.
 
Brendan said:
As a side issue, very few houses have actually been reposessed and this might just be a tactic by the estate agent.
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I have to say, this is the first thought that occurred to me when I read the opening post.

When the EA speaks of €80k less, it assumes a certainty of the value of other comparable houses. However, the value of the other houses may be no more then notional and just because the EA might say (or even think) that the other houses are worth €80k more, doesn't mean they actually are.

You may find that future buyers in the area might also find similar or even greater "bargains".
 
ah im not actually that superstitious at all...its just when we visited the house and heard the story of the separation and thus the repossession, it was just very sad you know...cos there was kids stuff still left lying around..

i have to say, estate agents are getting some rolicking on this website..obviously for good reason, but to think they could simply make up a story like that to make a quick sale is rather disgusting..... :( naive?
 
realtin, looks like you are really obsessed with a possessed repossessed house ... but if you look at some of the threads on this forum you'd see that a split couple + a house with a mortgage + a bank looking to get their money back is not a rare combinations these days ...
i'd say go for it ... get a psychic to view the house with you if you would like to cover all corners though :D /just kidding/
 
As far as I'm aware repossession are up by 2/3s and likely to increase with the bank's agreed moratorium on repossession coming to an end for many people. These houses have to be sold to someone.

I would have thought an estate agent confirming it is a repossessed house would put off buyers rather than encouraging them.
 
It kinda put a spanner in the works alright..when we visited it, it still had the families clothes and kids toys in it..very sad really..anyway..onwards and upwards! am certainly getting fed up of the house hunt!
 
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I think you have to go with your own instincts about this house. I remember years ago house hunting and looked at dozens but nothing appealed, then I walked into an old house and I knew within minutes it was the place for me - actually put in an offer the same day.

I wouldn't be particularly superstitious, but I wouldn't buy a No 13 especially given the rest of the story with your house - I would always think it was bad karma. Some of this is just apprehension on my part, the rest to do with my chinese upbringing where 13 would be considered highly unlucky. But that's just me. Basically, go with your instinct or as Brendan said previously you might tend to over analyse the superstition if anything goes wrong - which can happen in any house no matter what the situation!

Just watch out for Halloween and All Souls!
 
réaltín09 said:
It kinda put a spanner in the works alright..when we visited it, it still had the families clothes and kids toys in it..very sad really..anyway..onwards and upwards! am certainly getting fed up of the house hunt!
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Go off & think about it, don't rush into buying it, ponder on it for awhile, a month or so, & put in a firm offer on Friday, the 13th of November.:rolleyes:
 
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