Summary
Hundreds of properties heading into Britain's booming auction rooms are repossessed properties formerly owned by investors who made 'serious miscalculations' on running and repair costs, says the owner of the leading auction website.
Since he launched his Essential Information Group in 1995, former barrister David Sandeman has built up a data bank which covers more than 1,100 auctions a year - some devoted entirely to repossessions - and 35,000 lots from 300 auctioneers around the UK.See the full content of this document
Extract
Repossessions Boosting Auction Sales
'Last month, Barnard Marcus fixed an extra sale, purely for Halifax repossessions,' says Mr Sandeman. 'There is another for Halifax this month, of nearly 120 lots, while Al...
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