After Repossession

What to do?

If a repossession order has been issued, you have the right to protect your future.

Call us on 08700 42 52 64 to prevent your property from being sold for less than its market value.

Follow the following information should help you to mitigate any losses:

• Find out the exact date the property was given to the Estate Agents to handle.
• Ensure the property has been cleaned, garden tidied.
• That a 'For Sale' sign has been erected. Take a photograph of the property if there isn't one (preferably with a date stamp)...
• Visit the Agents to check your property is in the window or at least displayed inside.
• If it is not displayed ask about the availability of properties where it is located. If you are shown yours, show interest and ask for a copy of the same sales particulars. If they don't show yours just get the name of the sales person for future reference.
• Check the sales particulars in comparison with others for positive selling points:
• They will almost certainly have neglected to mention "No Chain" or "Vacant Possession"
• If they have, then the case for under-marketing grows stronger as Estate Agents tend to cite this as one of the best selling points for a property.

Ask the lenders if they are supervising and ensuring that the Estate Agents are marketing the property in the same way as other properties they sell. Most often they won't actually confirm that they've checked this themselves but simply say that the Estate Agents have "assured" them that this is the case.

If so, and you have evidence of under-marketing then the assurances can be later proven worthless and it will expose the lender to recent case law.

Please note that this information is suitable after repossession orders have been served.