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As title really.
How does being an ex repossession affect a houses value in the long run?
We are looking to sell but not sure how valuation will be affected.
Also interested to hear if it would put you off buying knowing it was an ex repo and how much the current owners paid for it?
Cheers
Steve
Can't see how it would matter in the slightest?
Do you think will worry people that the house might have bad luck/poor financial management ju-ju?
no, i bought a repo and sold it without doing anything apart from painting rooms for a good whack of profit, within 3 years, i knocked 10k off the asking price as well (which was about 8% of the value)
No didn't affect my old house in the slightest. In fact it was valued at one point as the most expensive on the street. I didn't bother selling it in the end but the valuation was always high despite being an ex repo. I had done a lot of work to it though.
Cool , that puts my mind at rest then.
We havent done much to it apart from new carpets and painted etc. We did fit a new boiler and oven though.
Plus removed some Fir tress and just generally give it a good tidy up.
Do you think brexit will affect house prices ?
If it was repossessed because the mortgage payer couldn't afford the payments because their income had dropped because they had murdered their partner in the property, then it might...
Just double check that all the charges have been cleared on land registry - your solicitor should have checked but fell foul of an error on this - sorted in end
On the other hand on here they hate the capitalist and if it shops on zopla you paid xxx they want to pay xxx less 10%
So just don't sell to anyone off here it'll be fine