Would you buy before a repossession or after?

[drummergirl34]

I think I've found a house that is somewhere in the process of being repossessed. I'm not exactly sure if it's gone to court, but I know that it's up for sale due to debt.

The house was originally up for sale for x, then reduced by 10%. WWYD? Would you make a cheeky offer - say 10-15% less their reduced price - or would you wait until it was repossessed and try at auction?

The mortgage company has to get the best price it can for a house which is a repossession. If you make a 'cheeky offer' they will continue to market the house right up to exchange in case they get a better offer.

If however you have got wind of someone needing to sell to avoid repossession that is a different matter.

Before repossession for a few reasons. If it goes to auction after a repossession you are more likely to lose out on it than if you make an offer directly to the vendors and may not necessarily get it for a cheaper price anyway.
While standing vacant the property will not necessarily be maintained properly (for example, a pipe burst in an empty house bought by a friend before they moved in, causing a great deal of damage).
Also, karma. Repossession is a traumatic process and you could be saving someone from going through an awful time by preventing it from happening.