Wednesday, Oct 07, 2009

Who can the banks flog their repossessed properties to?

The Property Finance Blog: Who is going to benefit from bank sales?

When RBS Lloyds has to get rid of repossessed properties, will the government let them flood the auction halls?

Posted by ontheotherhand @ 11:02 AM (2300 views)
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9 Comments

1. jack c said...

Interestingly this just landed in my inbox - titled "How to profit after the crash"

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Wednesday, October 7, 2009 11:11AM Report Comment
 

2. cynicalsoothsayer said...

Both Land Securities and British Land are commercial, not domestic property companies. Also, given the state and recent history of the commercial property market, it is hard to see how these could afford to buy loads of overpriced commercial property that continues to dive and empty of tenants.

Wednesday, October 7, 2009 12:10PM Report Comment
 

3. cyril said...

It makes sense for the banks to sell their reposessed properties to a property company which can take a longer term view about when to sell them. Given the low volumes of sales at the moment, this will help to delay the house price crash. The alternative is for the banks to put them on the market when they take possession and this would start the vicious circle of lowering prices and pushing more people into negative equity etc etc.

Wednesday, October 7, 2009 01:29PM Report Comment
 

4. yoyo1 said...

They should be more up to date and forward looking and sell them on Ebay.

Wednesday, October 7, 2009 04:01PM Report Comment
 

5. inbreda said...

Sell them on ebay? ebay is dead. If they tried to sell a property on ebay the auction would be one by someone claiming to be english, who would pay ten times the asking price, and ask for the house to kindly be shipped to nigeria as they are there on business.

Can't get a genuine sale on ebay. It's crap.

Wednesday, October 7, 2009 05:34PM Report Comment
 

6. yoyo1 said...

Thanks inbreda.
I'll delete ebay from my bookmarks.

Wednesday, October 7, 2009 07:25PM Report Comment
 

7. mountain goat said...

Although selling a house on ebay doesn't seem appropriate I love the site. Have bought and sold countless small things on it and enjoy the contact with individual people instead of yet another sterile corporate image. Have had very little trouble with transactions.

Wednesday, October 7, 2009 09:14PM Report Comment
 

8. Lebouche said...

Great buyer +++++++++

Thursday, October 8, 2009 01:08AM Report Comment
 

9. Lebouche said...

Great housepricecrasher!!! +++++++++++

Thursday, October 8, 2009 01:09AM Report Comment
 

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