Flicking through the paper a few weeks back I saw a half-page ad listing repossessed properties for sale. Think it was in the Sunday Telegraph. There weren't many in it though.
Along with the empty house, another tell-tale sign of a repo is an overcapitalised feature of the property - average 70's brick home but an ultra-expensive overdone caesterstone benchtop kitchen, yet the poo-brown carpet still exists in the remainder of the house and/or the fence is falling down. Or a big extension all freshly painted yet the rest of the house is untouched.
in a few open houses lately, the agents have been reluctant to divluge that the property is a repo. So unlike a few years back, it is not always blatantly obvious. I don't see the white letter in the window or advertised as a repo much now.
The repo house I purchased was not empty. I had hired furniture it that looked great! I don't know who authorised or paid for this, but don't always assume that a repo house will be empty. Also, one glance at the contract will tell you that it's been repossessed - having a bank's name on the front page is a giveaway - banks are not in the business of owning houses!