A LETTER OF THANKS TO FIONA FULLERTONgreenspun.com : LUSENET : Repossession : One Thread
The Daily Mail are currently publishing an abridged extract from Fiona Fullerton's book - "How to make money from your property"
Sincere thanks are due to Ms Fullerton as she has done us a great favour in Tuesday's (7-8-01)extract, page 37, the section entitled "Home in on a bargain" by stating - and I quote......
'However there are one or two ways of finding a property below its' market value. so long as you're prepared to rummage. One possibility is to buy privately and bypass estate agents................. Another good way to snap up a good bargain is to buy at auction. Housing Associations,local councils,banks and building societies all sell off property this way as well as estate agents.'
However Ms Fullerton does seem to be rather confused - see section entitled "Spotting Potential" - I quote ..'There is no such thing as a market price because the market fluctuates so enormously. The price at the bottom of the agent's details is known as the 'asking price'but there is no guarantee that they will get it.' (You can say that again!!)
She continues -'If you have seen something that you like and are considering making an offer, compare the property with other similar ones. For example, if it is a two-bedroomed flat an a large block, did the agent sell another one recently? Check prices in other agents' windows, ask around.'
In other words- try to establish what you can expect to pay in comparison to other similar properties at the time in question.
What else is that figure other than the 'Market Price'? If that is what people are prepared to pay that is its' MARKET PRICE.
It seems Ms Fullerton that you are well aware that some of these properties are repossessions, are under-valued and being under-sold in many many cases. You are oviously happy to profit through the misery of the ex-owners and are content to encourage, through your book, other people to do the same.
In view of that I must say that if I had any respect for you at all it would have been whilst you were doing Page 3 work, or whatever it was you did.
-- Joy Harker (firstname.lastname@example.org), August 07, 2001
Shame on you Joy, what WERE you doing with a copy of the Daily Mail?
-- (email@example.com), August 14, 2001.