I am moving house into a previously repossessed property.How do I find out if the property is blacklisted?
The property was repossessed by the previous owners mortgage company!
/>l do not know why? But can only presume he had not been paying his
bills! l do not know if the water, gas, electric etc has been
paid? Will l have to pay these? How do l reset the alarm
system?
The estate agent is as helpful as a glass hammer!
/> Any help would be very much appreciated!
If you mean blacklisted by lenders, apply for a mortgage & find
out. The other things are routinly done by an experiendced real estate
attorney. They check for liens, encumbrances, other title defects, paid
water charges. Best not to rely on the lenders attorney fully to represent
ur interests. Get an Owners Title Insurance Policy. It is good peace of
mind. Real estate agents generally represent the seller. While they may
be friendy, they are certainly not ur friends, in my experience. I find them the most insincere class of people I've ever known.
Your agent should be up on this & representing you. Is he
acting as a BUYERS agent? Ask him. If not, get an agent to represent
YOU. You need a title search & title insurance. See the Wiki article in
my sources.
Dont ever buy reposessed property without it.
Utilities are owed by people, not property. You will be fine with those.
Check on property taxes. The alarm system will have been turned off by the company that services it. It will probably be unplugged. You may be in luck with that. You may be able to just re-start services. Tell them to come take it out if they want you to pay a up front cost or a long term contract.
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