Post by Patrick on Mar 3, 2009 17:07:15 GMT
"Get ready for a US-style repossession revolution on the streets of Britain. A controversial American property auction company that specialises in selling off repossessed homes at rock-bottom prices is preparing to open for business here, in what some will see as a bid to cash in on the UK's credit crunch,"
Real Estate Disposition Corporation claims to be America's largest real estate auction company, and is well-known in the US for holding blockbuster "foreclosure auctions" where, amid much razzmatazz, hundreds of homebuyers and investors compete to buy repossessed properties at prices often far below their most recent valuations.
Reading about this at the weekend. I seems this company does things on a big brash "Come on Down The Price Is Right" way. Almost an evangelical experience, the report says. What's more - coming soon to a street near you - and possibly - bringing the prices down in your street further, will be "Reposession Signs" advertising that the previous owners couldn't keep up their payments and the place is up for sale! Some say this could damage the market further. Others welcome it. After all - prices have been too high for too long. Nevertheless - it's Just Not British to be brash and shouty about these things is it? Especially if the type of buyer is one who makes a living out of other people's misery - i.e "The Buy To Let'er".
Real Estate Disposition Corporation claims to be America's largest real estate auction company, and is well-known in the US for holding blockbuster "foreclosure auctions" where, amid much razzmatazz, hundreds of homebuyers and investors compete to buy repossessed properties at prices often far below their most recent valuations.
Reading about this at the weekend. I seems this company does things on a big brash "Come on Down The Price Is Right" way. Almost an evangelical experience, the report says. What's more - coming soon to a street near you - and possibly - bringing the prices down in your street further, will be "Reposession Signs" advertising that the previous owners couldn't keep up their payments and the place is up for sale! Some say this could damage the market further. Others welcome it. After all - prices have been too high for too long. Nevertheless - it's Just Not British to be brash and shouty about these things is it? Especially if the type of buyer is one who makes a living out of other people's misery - i.e "The Buy To Let'er".
