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Under-valuing of repossessd houses/flats

from Eleanor Scott (eleanor.scott@btinternet.com)
I've spent days now looking at all the Q&As, and would appreciate comments on the following observations. Lenders have no particular incentive to market a repossessed property at a fair price because of the Mortgage Indemnity Guarantees they made us buy (under false pretences). When surveyors go to do a valuation on a repossessd house they are very likely to know that it is a repossession, and they then tend to undervalue it. The fact that lenders have been churning these cheap repossessed properties onto the market has had the effect that *they*, the lenders, have been artificially and blithely depressing the market price in some areas (eg parts of north of England). Any thoughts please? And how does knowing this help us? Eleanor.
(posted 8665 days ago)

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