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April 2009

Repossessions website shows a 700 per cent demand surge

A SPECIALIST website covering repossession and part exchange property has reported a 700 per cent increase in traffic over the past six months.

The site, www.whitehotproperty.co.uk is run by property specialists, movewithus, who as an affinity group have more than 1,000 member estate agency offices around the country.

The website exclusively offers chain-free properties being sold by mortgage lenders or asset managers which have been priced to sell.

Buyers can also search for properties that have ‘seven day notices’. They are repossessed properties that have received an offer and have seven more days to achieve a higher price before they are taken off the market.

Robin King, founding director of movewithus, said: “Selling repossessed properties is obviously a sensitive area. Traditionally, properties were marketed in a haphazard manner and there was often a lack of transparency, meaning potential buyers were often not informed.

“Our website details thousands of repossessed properties which is good for both buyer and seller.

“Furthermore our seven day notice feature is designed to ensure that repossessed properties have a chance to achieve maximum realistic price, which is in the interests of the previous owners and the lenders.”