How to find bankruptcy properties for sale in Norwich?

Bankruptcy properties for sale are those that have been taken back from the owner due to an unpaid debt, i.e. a mortgage. If you have a mortgage or loan secured against the property and repayments aren’t maintained, the lender can apply to the courts to repossess the property. These types of property are often sold below market value in an attempt to secure a quick sale. All the time the lender has possession of the property, it is costing them money. Buyers could save as much as 30% off the market value, depending on the property’s condition.