Content area
Full Text
Headnote
Auctioneers concerned by American firm's 10% buyer's fee
A clash of cultures is set to erupt between established UK auctioneers and incoming US repossessions specialist Real Estate Disposition Corporation.
The UK auction fraternity is concerned about the commission model that REDC intends to use in the UK.
It will charge buyers 10% of the purchase price on properties sold at its first five UK auctions, scheduled to take place between 31 March and 5 April.
REDC has a total of 484 repossessed homes to sell on behalf of...