Quicker sales for possessed property, says Spicerhaart
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Possessed properties are selling quicker than last year, according to Spicerhaart Corporate Sales.
On average possessed property took just 68 days to sell in May, nine days faster than in April, and 18 days less than in June 2009.
The six-month average from November 2009 to April 2010 was 75 days to sell, five days less than the previous six months.
Mark Pilling, managing director, Spicerhaart Corporate Sales says: “This is excellent news both for lenders and customers. The primary method in which we can ensure the fair treatment of customers in the repossession process is through minimising their shortfall.
“Achieving the best possible price in the shortest possible time is the best way to accomplish this.”
Spicerhaart claims its sales are an average of 103% on the average market value.
Last year the average number of days from possession to completion was 124 and yet this year it is just 109.
And possessions took on average just 24 days to exchange from the sale being agreed in May, less than half the national average of 58 days for standard property sales.
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