The Eviction Process
The County Court Bailiff, an Estate Agent, a Locksmith are typically the only people that will attend the property.
The Police will attend if asked by the Bailiff when aggressive behaviour is expected.
Animal Control will attend when pets are known to be at the property.
All lender use Asset management Companies to coordinate the eviction. They will instruct a Local Estate Agent to attend the eviction and a Locksmith that will change the locks.
Neither the Locksmith nor the Estate Agent should enter your home until the County Court Bailiff is in attendance. Once the Bailiff has confirmed the eviction has not been withdrawn, they will hand over the property to the Estate Agent and normally leave. Your eviction has taken place, and the Locksmith will change the locks.
Your power and gas will be turned off, and ‘do not use tape’ will be placed on your taps, toilets, and appliances. Your belongings will all be moved to one room and you will be given 7 days to remove anything you wish to keep, however you must make an appointment with the agent to collect what you wish to keep, while the Agent waits outside.
The Agent will make arrangements after the seven days to market the property for sale. Any belongings that are not removed will either be sold or disposed of. The property must be marketed on the open market, however, this does not mean a colourful spread in the local property post. It must just be available for the public to access if they see it.
The issue is that with the combination of ‘do not use tape’, no power, no heating and the smell of damp and turned of fridge/freezer, it is normally very easy to spot a repossessed property and the low offers role in.
The agent will assess the purchasing power of all those that have made the low offer and it is often the cash advance from the investor/developer that secures the sale at a significant undervalue, but in accordance with the Lenders regulation.
The regulation, if it applies to your Lender, states that they must achieve as much as they can for the property while taking into account the rising cost of Interest. This enables them to sell your house for as much as they like.
Any equity that is achieved after the reduced sale and the increased interest and significant fees will indeed come back to you, but to expect anything, you needed to have had a very substantial amount of equity in the first place.
You are left entirely to your own devices in terms of finding somewhere else to live, the Local Authority’s or Councils have sold off most of their housing, and most have very long waiting lists. They will typically help you arrange a Bed and Breakfast, often miles away from your children’s schools etc. Some will even suggest a hostel and others will not help at all claiming you have “made yourself intentionally homeless!”
If you want another house to move into, you needed to have been more prepared in order to organise a rental property, there is nobody under any obligation to provide you with one. Some local authorities can help you with a rental deposit, however, most landlords/rental agents require a credit check and you will fail this as a result of the Lenders recorded arrears.