# Credit Search On a Property?



## Trist (Jun 23, 2006)

Me and the gf is putting a bid in for a property, but it gets declined, we've tried a few bids but stopped. The house was a rented house, but we believe theres quite a high mortgage balance on the house as they brought it back last november. All we know is their trying to get a offer to just clear the mortgage!

Is there a way to find out how much debt is owing on the house??

I work in a building society, so I know about data protection act etc, so it might be difficult to find out etc.

But if anyone knows a way please let me know 

Cheers


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## bigmc (Mar 22, 2010)

Ask the seller, sounds daft and cheeky I know but they might just tell you outright and you'll know whther or not it's worth it then.


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## Trist (Jun 23, 2006)

Thats a good plan, but the agents wont tell us who the owner is. The neighbours dont know who they are because they only saw them when they brought the house and did some interior touches so they could rent it!


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## Prism Detailing (Jun 8, 2006)

Short answer is NO

Debt is not against a property but against an individual, in the old days it was against a property so if you got bad debt, then the rest in your house would suffer.


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## justina3 (Jan 11, 2008)

i dont quite follow the question if you put a bid in on the house it must be up or sale if its up for sale you know how much they want for the property ? 

doesnt matter to you how much money is oweing on the house the owner will even have to make up the difference to sell it or he will have cash back. 

A tennant can not black list a house either the debt would be in there name and not the property


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## Rob_Quads (Jul 17, 2006)

Nope you can't find out.

Offer what you think its worth and go from there.


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## peanut1 (Dec 29, 2009)

Dude, land registry search!!! will show what the last mortgage raised on it was and you can also look on net house prices but there not quite up to date. LR costs £4, dead easy to use, i use it virtually every day!


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## Adam D (Nov 3, 2009)

If you were to buy the house then there would be no debt secured on the house. You would buy the house, with funds from a mortgage provider, in your own name.

There will be no need to worry about any previous secured debts against it (as long as your solicitor did a good job!)


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## Trist (Jun 23, 2006)

THanks for the replys guys.

Were not worried about debit secured on the house. They want on the market 149k for it. We were cheeky and offered 100k, we went up to 125k and still declined. So were trying to find out what the mortgage balance is so we offer them that and no more etc.


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## bigmc (Mar 22, 2010)

They say offer 15% less than the asking price around here (Chester).


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## Bero (Mar 9, 2008)

Use net house prices or our property and search for the price they bought it for. However you cant find out (TMK) if they mortgaged it at 125% or paid it cash...or somewhere in between. The mortgage is their personal financial deatils and can't be checked.


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## ABGT170 (Feb 20, 2008)

There is being cheeky and then there is offering 33% below the asking price.... not surprised they turned you down!

Try Zoopla or houseprices.net takes six months to show so your property should be on there. I would suggest that you do your sums and work out what the property is worth to you and then offer that. It is a buyers market but they won't be intending to give their place away. Do your sums offer your best bid and hope it's enough. If it isn't then walk away and move on. If they accept your bid don't spend any time thinking "I wonder if they would have taken £2k less?" they might have done but you will never know. Unfortunately the housing market doesn't work like Ebay.


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## Rob_Quads (Jul 17, 2006)

Also note that offering massively under may affect thier decision to accept a later offer. Why you might ask... they may think that you might not be able to afford the increased offer. As a result they may say it will be kept on the market until they get a confirmed morgage acceptance, survey under way etc.

Quite a lot of sales are falling through due to people offering more than they can actually get so sellers are very warey at the moment.


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## quattrogmbh (May 15, 2007)

If you offered 100K against an offer price of 149K they probably just think you are timewasters now. They may have even instructed their agents not to forward any offers from you below x amount.


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