Auction - Sun Villas - 13/07/09

muggsy


Joined: 13/07/2009
Posts: 1

Message Posted:
14/07/2009 00:43

Well done to all who supported us on this day.



As a purcahser of one of these villa's I cannot stress how important this is.



Lets hope that there will be a solution!!

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
14/07/2009 00:57

They didn't accept my £20 cash bid! Why not, it was in my hand with pen to sign!



Richard

dodger



Joined: 29/07/2007
Posts: 1895

Message Posted:
14/07/2009 01:15

Richard,

Out of order i.m.o.

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
14/07/2009 01:24

pease be to god as one who has suffered from te hands of a british builder . I hope nobody can loose a home xxx

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
14/07/2009 01:38

dodger



Were you there, I didn't see you or have you changed your mask? I did make the effort and to scupper proceedings I did make the £20 bid but you'd have known that if your beached sofa would have allowed!



Richard

lazydays


Joined: 14/07/2009
Posts: 8

Message Posted:
14/07/2009 06:56

hello peeps

Dodger and newlad it was done with the best intent really

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
14/07/2009 08:45

My understanding is that the reserve price was not met or there were no serious offers. In either case, according to the rules, the auction is posponed for at least six months and the reserve price is reduced by 30%. This can be repeated as many times as necessarry until its sold.

ismet

Chegwin


Joined: 24/03/2009
Posts: 775

Message Posted:
14/07/2009 08:52

So after three postponements it’s virtually free??

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
14/07/2009 09:12

Sorry mate, your maths not up to scratch

0.7 x 0.7 x 0.7 = 0.343

Hence at the fourth auction the price will be only 34.3% of the original reserve price. In practice, once the price is a very good bargain someone or at least the creditor steps in and buys it. Even a mortgage holding bank can buy it providing they sell it off within a year. Banks are not allowed to accumulate immovables in this way.

ismet

Chegwin


Joined: 24/03/2009
Posts: 775

Message Posted:
14/07/2009 09:26

I will have to get my Dad to increase my pocket money then!

Aga Buyers A G


Joined: 04/10/2007
Posts: 488

Message Posted:
14/07/2009 09:53

don't forget all property victims are invited to joinh us on 4 & 5 August at our London Office Protest. It's up to each person to show their displeasure even if only for 5 minutes



xxxxx

ABAG

http://latchfords.spaces.live.com/blog/cns!AED4FE7679CA3C33!2038.entry