Bank Repossessed Properties offer buyers a really cheap alternative in a time of increasing property prices.
While there are many advantages to buying a cheap bank repossessed property you need to be aware of the snags that are common with these kinds of purchases.
Often Bank Repos are not in the best condition. The ill fated homeowners usually are forced to neglect the property due to their financial constraints. Some homeowners may even do unnecessary damage to the house before the bank repossesses the property.
Banks are keen to rid themselves of repossessed property as they are expensive to hold - protect the vacant home against squatters, gardening services have to be paid to keep the property in shape, and so on.
