I recently came across a new term and a new website 'white hot property'.'White hot properties' are characterised by not being part of a housing chain and most importantly from a property investors point of view is that they are priced to sell!
The website whitehotproperty.co.uk sell genuine repossessions as well as properties being unloaded by developers and housebuilders.
Whitehot Property is a sister company of Movewithus, a national property specialists who work with estate agents, developers, solicitors and lender partners. The company was founded by five entrepreneurs in 1997, who looked to bring a complete property package across the market. There main business is made up of Asset Management (Repossessions, Probate, Rental Management), Developer services (Part exchange, Assisted sale) and Agency (Website production, Online services, referrals).
Asset managers for the uninitiated are outfits used by mortgage companies to sort out the disposal of repossessed properties. These guys manage the process & sit at arms length from the lenders who employ them. They are charged with achieving the best price with the property. Something that a mortgage company that repossess is legally obliged to do.
So if you are looking for a repossession bargain then check out this website.
The properties are literally 'white hot'.
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