House to be sold at auction

[brothershouse]

My db has been a bit of an idiot and has a large court ordered debt to pay off and they say that his house will have to be sold at auction for a quick sale

Has anyone had experience of something like this?

How would I find the house online? Would it be online at All?

It will probably have already been up for sale but no offers received. Is he in default on the mortgage, if so he is still liable for any shortfall if the mortgage is higher than the sold price.

Mortgage is up to date (as far as I know) obviously that would be paid off

Market price for a nicely upkept house in his road would roughly be 280? 260? His house is not well kept,

I think he will get enough to clear both debt and mortgage (around 170) is that realistic?

No idea. Why would the debt secured on the house if not mortgage? Could he go to a property purchase company first?

I don't think it is already up for sale as he has refused to do anything

I think it's being sold because it's his only asset

He's not talking to me as I told him to stop acting like a child

Bear in mind that there will be solicitor & asset manager costs to be added, may be redemption fee & closure costs. Also depends on the loan to value how much he borrowed against the house. You then have any subsequent charges (Land Registry will show this). The lender has to attempt to achieve the best price possible so it would be rare for it to go straight to auction unless there are problems with the house. Lots to think about.

Thank you for your posts

I have literally no experience or knowledge about what happens

My dm is beside herself as he won't 'do anything to help himself'

It should be on rightmove etc

I have seen houses to buy on there that have about 4 or 5 viewing days/times

But not looked at them cos not got courage to buy at auction

If you want to know the dates and details etc --- Set up an alert on Zoopla and rightmove for his postcode and it should come up when it puts up iyswim

Lots of the big auction houses advertise in conjunction with agents on Rightmove & Zoopla. eg Hamptons estate agent is affiliated to Countrywide auctioneers (renamed now but you get the point). In the listing it will give you auction contact details inc date; normally the estate agent's role to facilitate quick sales if they are able to exchange prior to the auction date.

So I'd suggest you look online first...you've a pretty good chance of tracking it that way.

OP...can I ask you what you want to do with the info if/when you find it? (hope that's not too personal)

An alert means that any property that meets your criteria an email is sent to you with details of it

But your DB won't know you have done it iyswim

I want to have as much information as possible, I want to know what the process is so I can support him.

My dm is concerned that he might do himself/people around him harm - the more information I have on what is likely to happen the better

She thought he was bankrupt prior to this happening, I thought he couldn't be as he still had a mortgage and an asset ( the house) so one of us is wrong

OK. I was kind of wondering if you wanted to buy the house (in a nice way) and wondered if you needed more info about buying at auction. Sounds very difficult, sorry you are going through this.

It looks a bit like he is going through the bankruptcy process now.

Are court orders public information?

No, I can't afford to buy it, and I also don't think it would good in a mental health way for him either