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laurejon

Is It More Difficult To Sell A Property In A Recession Such As We Have Today

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I am often asked the Question "Is it difficult to sell a property in a falling market, or in a recession such as we have today"

Well the answer is quite simple.

No the banks are always able to sell a property no matter what the financial climate.

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I am often asked the Question "Is it difficult to sell a property in a falling market, or in a recession such as we have today"

Well the answer is quite simple.

No the banks are always able to sell a property no matter what the financial climate.

It's all a question of price.

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It's all a question of price.

Hmm, in the last crash in the scummiest of areas (and currently in detroit) you couldn't give some houses away. a house costs money to tax, heat and repair if no-one wants to live there there is NO price

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On a housing estate near us there are about 10 similar sized shoe boxes, all with ludicrously high asking prices. None of the people have the slightest chance of selling.

If one of them was to drop by an immediate 20% they would get noticed, and the other 9 would be totally ignored.

Other places that sell usually have a unique selling point, including things like land, out buildings, large room sizes and non estate locations.

Putting a hanging basket outside wont sell your house att, instead youve got to drop your price.

All provided that people have the finances in place.

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I am often asked the Question "Is it difficult to sell a property in a falling market, or in a recession such as we have today"

Well the answer is quite simple.

No the banks are always able to sell a property no matter what the financial climate.

What are you wittering on about "banks are always able to sell..."

What property? Repossessions? Bank property?

Property will always sell it just depends on the price.

See, thats why repossessions are sold at auction - this gains the highest market price.

Funny though, that even auctions are suffering at the moment.

As someone else pointed out even a free property would incur costs such as taxes, heating, maintainence...etc.....

Make your question clearer, perhaps then we can help.

.

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Many people do not realise that three months in arrears triggers a repossesion order and that order will be granted by the courts.

I was out at a party on Friday with what would have been considered very lucky people five years ago as they all made their money in construction and property.

I was gobsmacked to listen to their hard luck stories about how they were in arrears with their mortgages and business loans, they found it amazing that their work over the past years had dried up completely in some instances. All were suprised that their banks had called them in and asked them to start to sell up assets in order to clear the loans. I think they really were under the impression they were mega clever and their business's were solely a recognition of their skills rather than a reflection of an inflated market whereby anyone with a paintbrush and pair of overalls could get a job.

One guy with a roofing company had laid off all his staff, and was back on the tools himself and could still only muster two days work a week, and that was travelling from the South of England to Tonbridge in Kent.

Its going to get a lot tougher, and there are going to be some lovely cheap houses coming to market very soon!!!.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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