Is it normal to be asked to use ‘in house’ services(solicitors/mortgage arrangments) to buy a repossessed home?

repossession house

Hi All!

I have put in an offer and had it accepted, just under the asking price on a house which sadly is a repossession. It is not in a great state-appliances having been ripped out etc, scuff marks but nothing that can’t be fixed and the house is just the thing to at last get me on the ladder.. The seller/management company have reduced the price on the property once already-they have yet had no other offers on it.

The estate agent i am dealing with wants to keeps things ‘in house’, by using their services for conveyancing and mortgages.I am a single woman who is a first time buyer and i had a good deal with my bank on a mortgage but the agent has alluded to the fact that i may stand a better chance of avoiding more offers on the property if i use their mortgage service.The mortgage deal the estate agent offered isn’t bad(more expensive though) but i wondered if this is normal practice?

I have said i would not use in house solicitors which was seen as ok but they did recommend a local solicitor.

I am not well off, and although i know this is a risk i am still willing to walk away if higher offers (ie, over asking price), come in at the last minute.

i know the bank/management company want the money so need to sell and ensure that the sale will go through in 28days, but does anything here sound odd?

Just wondered!

Rent Back

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