There are a number of things that indicate whether a property for sale is a repossession. We use a variety of techniques to identify potential repossessions but the 3 primary indicators are below.

 

‘Notice of offer’, ‘Public Notice’ or ‘By order of the mortgagees in possession’ – Free plan

Properties with ‘Notice of offer’, ‘Public Notice’ or ‘By order of the mortgagees in possession’ in the description.

These terms are typically given to properties where an offer has already been made but the mortgage company continue to market the property, in order to achieve a higher price.

IMPORTANT: RISKS OF ‘NOTICE OF OFFER’ / ‘PUBLIC NOTICE’ / ‘BY ORDER OF THE MORTGAGEES IN POSSESSION’ PROPERTIES

Do Not Use tape on appliances

When a property is repossessed, the power and gas will be turned off, and ‘do not use tape’ will be placed on taps, toilets, and appliances. – https://www.repossession-expert.co.uk/during-and-after-eviction/

Vacant Property

A property is vacant when there is no personal property inside the home to allow for someone to live there. Clearly, when repossessions are put on the market, the personal property should be removed.

Property Chain Free

Chain free, or ‘no chain’, means the vendor doesn’t need to buy another house at the same time as they’re selling their old one, and the purchaser isn’t relying on the sale of their old house in order to be able to complete the sale on their new one.

Houses can be chain free for a number of reasons, including: The home is being sold by a company, for example after repossession. – https://www.reallymoving.com/help-and-advice/guides/what-is-a-property-chain-and-how-do-i-break-it