America’s leading real estate auction company is to launch its auction business in the UK market at the end of March.
More than 500 bank and lender repossessed homes in England, Wales, Scotland and Northern Ireland will be sold at five separate auctions running from Tuesday March 31 to Sunday April 5.
The US auction house REDC will be detailing the properties on US website Auctiontoday.co.uk.
REDC is making a major investment in this first round of UK auctions with a massive marketing campaign and hundreds of TV, press and outdoor advertisements.
Each auction will be a large-scale event at a major venue with full assistance on site for potential buyers.
Jeffrey Frieden, CEO and co-founder of REDC and AuctionToday.co.uk, says: “Unlike traditional auction houses, which have restricted their pool of potential buyers to groups of savvy investors, REDC’s model is built on exposing its auction properties to as many people and as many markets as possible.
“We believe that everyone should be entitled to a bargain not just a select group of professional property investors.”