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Response to How to find out about Repossessed Houses on the Market

from Gordon Bennet (arsenewhinger@hotmail.com)
My usual response to this type of question is two fingers but I'm feeling remarkably calm of late and so I will give you the benefit of years of accumulated wisdom Ben.

First of all, it may have escaped your notice that the property market in the South East of England (Berkshire included - despite it being the county with the largest collection of weirdos)has grown rather heated of late.

What this means is that most if not all residential property (plus anything that can remotely be considered 'convertable')has undergone an enormous price hike.

If you attend the nearest and next property auction in your vicinity Ben, you will notice that properties sell well in excess of their reserve prices, be they repossessed or not.

The false idea or urban myth if you like that there is this 'list' or source of repossessed properties available somewhere that prospective bargain hunters such as yourself can tap into for underpriced property sales, is widely disseminated but still just a MYTH!

The only people likely to make big profits from this activity are either well placed estate agents, whose staff are often able to 'buy' a repossessed house cheaply before selling it on immediately at a premium, or the purveyors of junk mail newsletters who claim to be able to set mugs such as you Ben on the road to creating a property portfolio fortune.

If you are after cheap property then try the slum clearance areas of northern towns and cities rather than la-di-da Berk land

(posted 7841 days ago)

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