Wednesday, October 7, 2009

Who can the banks flog their repossessed properties to?

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 (2358 views)
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9 thoughts on “Who can the banks flog their repossessed properties to?

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  • cynicalsoothsayer says:

    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.

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  • 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.

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

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  • 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.

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  • Thanks inbreda.
    I’ll delete ebay from my bookmarks.

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  • mountain goat says:

    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.

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  • Great buyer +++++++++

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

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