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Helping an Investor Purchase an Empty Property

INVESTOR & DEVELOPER

Stone row houses

A community member got in touch as she wanted to buy and renovate a long-term empty home in her town that had been repossessed years earlier by the bank. She was aware that it had previously been advertised at auction but had not sold. She had repeatedly tried approaching the bank but could not find someone to speak to in order to buy it, so she contacted the advice service. The adviser wrote to the bank on her behalf highlighting their requirement to sell the property for the highest achievable price and asking them to identify someone she could speak to about a sale. This communication was not responded to however it was noted that the property was shortly marketed for auction and the community member was able to purchase the property for a price she was pleased with. Once renovated, it will be a permanent home once again.