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Flipping Unsellable Properties With Assisted Sales

Assisted Sales Webinar with Richard Shepherd, Shimon Rudich and Hanif Khan (the 3 Amigos) 12th May 2013This Sunday 12th May Shimon Rudich, Richard Shepherd & Hanif Khan are holding an Assisted Sales Online Summit which is a special webinar at NO COST TO YOU!

They’re going to show new and experienced property investors how their students, clients and mentees are making THOUSANDS of POUNDS (GBP) on a regular basis by selling properties they don’t own.

If you’re interested in this you should register now:-

REGISTER FOR THE ASSISTED SALES ONLINE SUMMIT

Shimon, Richard, & Hanif have a group of investors who are doing this on a regular basis on their patch and using this strategy also to grow their property portfolio. When we’ve spoken to these options traders their mantra is that out of every 3 properties they sell 1 property and to keep 2!

The best bit – you learn How to Maximise Your Profits With Options FLIPPING UNSELLABLE PROPERTIES

This is what you will learn:-

* Learn How to Get Homeowners Falling Over Themselves To Accept Your Low-Ball Offers

* Learn How to Double Your Residential Sales In One Fell Swoop

* Learn The 4 Classic Steps Our Investors Take to Give Up The Day Job

* Learn How To Flip Unsellable Houses And Make Tens Of £1,000’s In The Process

Learn How to Make CASH By Selling Properties The Estate Agents Can’t Sell!!!

Register Now:- REGISTER FOR THE ASSISTED SALES ONLINE SUMMIT with Shimon, Richard, & Hanif

PS: If you missed this astonishing deal where a former farm worker got over £90,000 (GBP) from a lease option you should check out this video right here:  DONE DEALS – HERTS

 

Confusion Remains Over Displaying EPC's

Confusion Remains Over Displaying EPC’s

As of the 9th January 2013 the laws regarding Energy Performance Certificates (EPC’s) changed, however some landlords have stated that the regulation changes are still causing some confusion.

An EPC is a certificate stating how environmentally friendly a property is. By law an EPC must have been commissioned on all properties prior to marketing for sale or to let, and must be obtained within 7 days of the property first being marketed.

If an EPC is not obtained within 7 days, a further 21 days are allowed providing it can be proven that all reasonable efforts were taken to obtain the EPC beforehand. It is the responsibility of the seller or landlord of the property to obtain the EPC not the Estate Agents.

Although changes have been made there are certain similarities between the new laws surrounding EPC’s and the previous regulations.

For example, EPC’s are still required for all properties with the amendment that listed buildings are now exempt. An EPC must still be displayed on all documents however; the requirement to put the front page of the EPC into advertisements and property particulars has now been replaced with a requirement to insert the asset rating instead.

A summary of changes that have been made due to the new legislation are as follows:

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Residential Property Sales Hit Three-Year High

Residential Property Sales Hit Three-Year High

Residential property transactions in the UK reached their highest level in three years, as would be buyers begin to take advantage of the continuing record low interest rates and the increased availability of residential mortgage loans, according to a survey of estate agents.

The monthly market survey from the Royal Institute of Chartered Surveyors (RICS) found that the increased availability of cheaper residential property mortgages and home loans has been boosted by the Bank of England’s (BoE) Funding for Lending Scheme (FLS) and this in turn has led to a pickup in residential property transactions.

Surveyors reported that many agents have sold an average of 17.4 residential properties to new first time buyers in February – up from the previous average of just 16.8 in February 2013, but property transactions remain significantly below the unprecedented levels reached in the early-mid 2000s, at the height of the last UK property boom.

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Help To Buy Could Boost UK Property Market

Help To Buy Could Boost UK Property Market

The Help To Buy mortgage indemnity scheme proposed by Chancellor of the Exchequer, George Osborne, in the budget announcement made last week is expected to raise both property transaction levels and property prices.

The Help To Buy mortgage indemnity scheme which kicks in next January is designed to generate £3.5 Billion (GBP) of new lending, could be administered by ‘bad banks’ Northern Rock Asset Management and Bradford & Bingley, now in the umbrella of UK Asset Resolution.

Lenders would have to pay to participate in the scheme, but the price has not yet been set.

Estate agents expect Help to Buy to enable people to buy both existing properties and new build homes with 95% mortgages.

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How Estate Agents Are Regulated And Who Regulates Them

Currently estate agency as a profession is self-regulated. The Office of Fair Trading has previously stated that it believes self-regulation within the industry serves to relieve unnecessary regulatory burdens. However, research carried out by the Guardian newspaper regarding the consumers view on estate agency shows that;

  • Just one in ten people asked thought that estate agents were trustworthy.
  • 70% of people interviewed were of the opinion that estate agents were prone to giving misleading advice.
  • 41% were under the false impression that estate agents need certain qualifications to enable them to practise.

Despite consumer bodies campaigning against self regulation, estate agents are not currently legally obliged to belong to an industry regulatory scheme. Just one third of estate agents in the United Kingdom currently belong to an industry regulatory scheme, according to the Guardian. This can be disconcerting for consumers as taking action against an agency which is guilty of miscode of conduct  that does not belong to such a scheme is not as straightforward; the complaint must be logged directly to the Office of Fair Trading. Even though estate agents are not legally obliged to belong to a scheme, legally they must abide by the rules set down by the Estate Agency Act 1979, amended for undesirable practices.

Within the confines of this Act a complaint may be registered by a consumer if they believe that the estate agent they have instructed has breached their duty of care; this could mean providing misleading information such as presenting a developer as a first time buyer with no chain or not displaying their terms and conditions clearly. If the estate agent concerned is a member of an approved scheme the complaint may be taken to the Property Ombudsman. They will subsequently  look at the case individually and compensation may be awarded to the affected consumer, compensation can be up to a maximum of £25,000. If the agency is not listed with an approved scheme however, the complaint may only be registered with the Office of Fair Trading; in this case the investigation will not look at the individual complaint, but at the agency as a whole, no compensation will be offered despite the conclusion of the investigation.

The most well-known scheme within the estate agency industry is the National Association of Estate Agents; this was founded in 1962 by estate agent Raymond Andrews. The scheme is only available to agents who pass the necessary exams and must abide by the NAEA code of practice. This practice includes protecting clients from fraud, misrepresentation and malpractice; Noncompliance of these rules can result in a fine of up to £5000 per branch and membership will be revoked. Another approved scheme is the Royal Institute of Chartered Surveyors, founded in 1968. It is an independent scheme which regulates property professionals and surveyors; it is suited mainly to agents working with commercial property transactions.

From October 1st 2008, estate agents were legally required to register with an Estate Agents Redress Scheme. This was an Order made under the Estate Agents Act 1979 by the Secretary of State for Business Enterprise and Regulatory Reform. Each of these redress schemes must be approved by the Office of Fair Trading for the registration to be legally binding, one of the approved schemes includes the Property Ombudsman. This was created on May 1st 2009 and was formerly the Ombudsman for Estate Agents created in 1998. The title was changed to reflect the broadening of authority in relation to complaints including commercial and overseas property. The scheme is only available to companies whose director or partner is a member of the National Association of Estate Agents or the Royal Institution of Chartered Surveyors.

The Property Ombudsman provides impartial assistance to any customer who feels they have been treated unfairly. For the complaint to be considered by the Property Ombudsman the agent must have either infringed the legal rights of the consumer, breached the terms of any practice that they are working under or be guilty of maladministration. Although this scheme is voluntary, it is recommended to instruct an agent who is registered with The Property Ombudsman, any complaint about an agency which does not belong to the scheme should be submitted to the Office of Fair Trading.

When selling a property, it is recommended that research is carried out before instructing an estate agent. By choosing an agent who is a member of the National Association of Estate Agents the property vendor can be assured that the necessary qualifications will have been obtained.

If in doubt consumers may verify an agency’s NAEA membership by calling 0844 387 0555.

Written by Urban Sales and Lettings Nationwide Online Estate Agents

The Royal Institution of Chartered Surveyors (RICS) have delivered a stinging attack on the coalition Government’s NewBuy mortgage scheme, suggesting it could wreck the entire housing market.

RICS are also calling for the regulation of all letting and property management agents, and the introduction of a single, UK regulation and redress scheme to be set up within 3 years.

The RICS says that NewBuy, which offers purchasers of new-build property 95% mortgages underwritten by taxpayers and developers, could reduce demand for ‘second-hand’ property and play havoc with lenders’ affordability calculations.

The RICS says that the NewBuy scheme may not even help first-time buyers when they come to buy second-hand properties because without stimulating the second-hand market as well as new-build, purchasing chains and overall transaction levels will begin to stagnate.

The institute is to include specific guidance to the valuers of new homes, to ensure that they understand the impact of NewBuy and make sure it ‘does not adversely impact the market’.

But while the RICS is calling on the Government to help local authorities introduce more Lend a Hand schemes, where buyers put down deposits of at least 5% and local authorities provide an indemnity of up to 20%, the organisation says the ‘dire state’ of local government finances makes this unlikely.

The RICS are also calling on the Government to amend the Estate Agents Act to bring all property letting and management agents within its scope, in terms of the need to have client money protection professional indemnity insurance and redress mechanisms.

The RICS says it will work with other bodies to establish by 2015 a single industry-wide regulation and independent redress scheme for the whole sector.

It also wants to see the Government encourage more investment in the private rented sector, including encouragement of ‘build to rent’ schemes, and for private tenants to be offered longer tenancies.

Elsewhere in its new housing policy, the RICS calls for VAT on all home repair, maintenance and improvement work to be cut to 5%, and for Stamp Duty to be reformed.

The RICS produced its new housing policy after consulting its members and will now lobby the Government.

Peter Bolton King, RICS global residential director, said: “To deliver real influence in the corridors of power, RICS needs to have clear residential policy. In putting this landmark work together, we met with our members and firms of all sizes from right across the country. What came across loud and clear is the desperate need to reform sections of the market and generate growth right across the UK. We will now take these recommendations to the Government with the aim of helping them to improve the residential property sector for those operating within the industry and the public as a whole. Change needs to happen if we are to see an economically viable and professionally driven residential sector, and I stand ready to work with members, government, other industry bodies and consumer organisations to achieve this.”

With only 2 weeks to go, the UK coalition Government have finally produced guidance on the changes to Energy Performance Certificates, (EPC’s) for residential properties, complete with a contradictory anomaly.

The UK Government’s department for Communities and Local Government (CLG) are now under pressure to clear this up and have indicated that they may release further guidance in certain areas.

Currently, letting and estate agents have 7 days from the commencement of marketing a property for an EPC to be obtained, followed by 21-day period of grace should it have proved impossible to obtain one.

However, the guidance then contradicts itself, by then saying that the EPC must be made available to prospective buyers and tenants when they request information, or when a viewing takes place.

The guidance underlines that the EPC must not be provided later than either of those two events.

By definition, it means that all letting and estate agents might not be able to conduct viewings on the first day of marketing – or even within the first week, or at a push, the first 28 days, whilst awaiting an EPC, if the CLG department stick to the new rule.

Nick Salmon said that the requirement to produce an EPC on a viewing sets every alarm bell ringing: “Does it means that if I take a property on the market and the EPC is ordered, that I cannot do viewings on the property unless the EPC is actually at hand? Have they just killed off first-day marketing again.”

The requirement to have an EPC ready for viewings is repeated on both pages 3 and 4 of the guidance.

On page 4, it says:

Q. When should the EPC be made available under the new regulations?


A. The EPC should be made available as early as possible and in particular, when a prospective buyer or tenant requests information in writing or views the property in question. In addition, the seller or landlord must ensure that an EPC has been given to the person who ultimately becomes the buyer or tenant.

Salmon said: “We need an urgent answer to this. Unless CLG make it clear that viewings can be made while the EPC is ordered but awaited, we are back in the dark days of their mega-stupidity with HIPs.”

The guidance, which cites an industry survey which found that 36% of estate agents believed EPCs were only needed at the point of sale as one of the reasons for introducing the changes, answers a number of outstanding issues, although it does suggest that agents needing further clarification take their own legal advice.

It makes it clear that the ultimate responsibility to make an EPC available to potential buyers and tenants rests with sellers and landlords. However, under a new duty, an agent must be satisfied that an EPC has been commissioned before marketing can start. Trading Standards officers can ask for evidence of this.

The seller, landlord or their agent must use all reasonable efforts to obtain the EPC within seven days of the start of marketing. A further 21 days is allowed if necessary. “The effect of this is to provide an absolute duty to obtain an EPC within 28 days of the property going on the market,” says the guidance.

If the property remains on the market after 28 days without an EPC, Trading Standards officers may serve a £200 (GBP) penalty notice ‘even if there is a legitimate reason for the delay’.

The guidance also defines ‘written particulars’ and what the ‘giving’ of written particulars is.

“The giving of written particulars includes making them available electronically, such as in an email or as information on a website.” In other words, agents will have to retrieve the EPC from the central Register and attach it to online written particulars.

However, newspaper adverts and estate agents’ window cards appear to be let off the hook. This also needs further clarification as the guidance actually specifies ‘lets’.

Q. Do newspaper adverts or window cards for property lets meet the definition of written particulars?

A. No. The requirement to attach a copy of the front page of the EPC to written particulars is where an agent provides written particulars to a person (i.e. a specific individual) who may be interested in buying or renting the building.

This implies that a copy of the front page of the EPC does not need to be attached to advertising material, i.e. a newspaper or window card.

The guidance also clarifies what attached means: The first page of the EPC can be incorporated into the property details, or attached.

In an apparent swipe at NFoPP and RICS, who both wanted redactions, CLG has stuck to its guns about not allowing addresses to be redacted from residential EPCs, although redactions are allowed from commercial EPCs.

It says addresses cannot be removed from domestic EPCs, “Following discussions with property agents’ representatives it was agreed there was no requirement to extend this service to domestic sales and rentals.”

One issue which is not specifically addressed in the Q & A concerns lists of available rental properties which are sent or emailed to applicants.

However, as the guidance suggests that properties listed would meet the criteria of ‘written particulars’, a list could hypothetically list 15 rental properties on an A4 sheet of paper, and then have individual EPCs attached.

The changes kick in on April 6th 2012. Any letting or estate agent who has not seen the Q & A guidance can email EPC.Enquiry@communities.gsi.gov.uk

Source: Estate Agent Today

The new version of the EPC, and the new legislation governing their use, are meant to come into force on Good Friday, 6th April 2012.
However, changes to the rules governing EPCs were supposed to be implemented in July 2011, and then in October 2011. Both dates came and went without any sign of the changes happening and with no explanation of what was going on.
Detailed guidance from the Department of Communities and Local Government, (CLG), is promised well in advance of the date, but it’s rumoured that the new version of the EPC hasn’t been approved yet!
In practical terms, this is more of a worry for lettings and estate agents than it is for the general public, who will become legally responsible for EPCs, and face censure and EVEN have to pay fines if the new rules governing their production and use are broken!
Yet they are almost completely in the dark about what’s going on!
However, the big question is will any changes make EPCs more useful?
The official government line is that anything which increases the awareness of the energy efficiency and environmental impact of a property has got to be a good idea.
But so far, there is little evidence to suggest that buyers actually care about energy efficiency very much. After all, there is a lot more to choosing a home than the cost of heating it.
Very few buyers are showing signs of rejecting properties that they like and can afford, simply because they have a “G” energy rating.
Of course, this may change as we are forced to become greener. However, that day is still a long way off.
Alan Kirkman

However, Communities and Local Government department insisted on Friday that guidance for lettings and estate agents on EPC changes has been issued.
The department denied keeping property lettings and estate agents in the dark and says it will be issuing further guidance, although it has not said when.
CLG said that guidance was issued on March 2nd 2012 .
CLG confirmed that the changes to UK EPCs will be implemented on April 6, and the new-look EPC will be released on April 1.
Regarding further guidance, CLG said: “To avoid piecemeal announcements, it is the Department’s intention to make further information available, including the Q&A guidance, with details of other changes being made to enhance and improve the energy performance of buildings regime which will also be implemented in April.”
But the claim that any guidance had been issued baffled the NAEA and ARLA, who said that they had not received anything to circulate to members, and bemused individual estate agents.
The Communities and Local Government department statement said:
“The Property Agents EPC Retrieval Service guidance issued by DCLG on 2nd March provides UK estate agents with details of the service being provided to enable them to attach a copy of the first page of the EPC to electronic on-line written particulars to ensure the most up to date EPC is always provided directly from the EPC Register. This service has been set up at the specific request of property agents. If required, a copy of the first page of the EPC can also be printed and attached in hard copy to written particulars. This guidance has been made available to key partners within the property industry for circulation to their members. However, any property agent is welcome to contact us and request a copy of the guidance. A summary sheet regarding the regulatory change is also available.”

The Biggest Property Networking Event of the Year

Property Super Conference 2012

Hi All

I’ve just received an email from Rob Moore of Progressive property, and it has left me stunned. It’s really touched a nerve and I just had to share it with you

Be warned, it is not for the victim or the feint hearted –

Over to Rob:

Dear Mike

For years now Mark & I were warning people about how BIG the Property Crash would be, & how the aftermath of the economy would spread through to repossessions, & many people, including some serious investors, would go bust.

We have to admit, we’ve felt some pain throughout this & the change took some serious adjusting for us, despite knowing the opportunity it brings.

We have a huge challenge right now in our business, and I’m going to share it with you as you may have experienced something similar…

However, Our challenge is not the economy. There are proven strategies to make money in a recession & many of the biggest businesses [like Microsoft] were built on a Recession

Our challenge is not the declining Property market:

  • Anyone can buy far far cheaper than they could before 2007
  • Estate Agents will talk to you now [they need you] & get you deals, even if you are a novice
  • Cashflow is massive & yields are almost double what they were pre 2007

So let’s not kid each other…

With well over 120,000 people subscribing to our newsletter, & over 100,000 people we’ve educated in Property in the last 5 years, We are in a good position to let you know ‘from the ground’ what the real problem is right now [& the experience of over 350 property purchases]…

And Our challenge is not finance:

  • There are more no money in & creative finance strategies now than there ever have been
  • There are more rich investors looking to give you money to invest
  • There are more deals to finance at better discounts

Why is it then?…

that while many ‘Ordinary People’ go bust, many people who’ve been to our events, are in our Community and study our material are buying 5-15 properties in less than a year, many with no money, many quitting their jobs, many making serious positive-never-to-look-back life changes, and many creating 3K – 10K net income per month…

The reality right now is that Darwin’s survival of the fittest is more here and now and real than ever before. And that’s what it’s all about. In these times of in or in the dips between serious Recessions, there are no ‘in-betweeners,’ there are just straight winners [‘contrarians’] & losers [the masses]. It’s as simple as that

So here’s the deal, & what you really must know now…

Our biggest challenge is that despite all that is happening, & all the messages we send out about:

‘Observe the masses, do the opposite’ ‘Be greedy when others are fearful & fearful when others are greedy’ ‘contrarian investing,’

‘Making cash in the crash,’

All of which are proven strategies that neutralise any Recession…

Our biggest challenge is that if we do not shout as loudly as we can about how serious things could be if you are one of the losers & If we don’t do everything we can to motivate, inspire, shock, scare or ethically bribe you into taking action, getting out of your comfort zone & doing something now:

Then we both lose

You lose because unless you are 100% happy with your life exactly the way it is, it won’t just stay the same in today’s economy, your finances & everything else will get worse

You lose because you miss the single biggest opportunity since Nationwide Property data began to make a huge killing in Property

We lose because we couldn’t help you, & we’re sorry, but we’re just not going to let that happen. & we lose because we run a business just like you. We offer products & services just like you. We have the same challenges just like you…

& that’s why this is the most candid thing we’ve ever written

I [Rob] used to be afraid to tell people this, but my mother has chronic arthritis & my father has manic depression, they stay in one of my houses & don’t pay me any rent, and I will not sit by and let this Recession affect them, or anyone that is close to me. I see it every day with all the houses we buy & all the repossessions, & although we help many, we can’t help them all…

But we can help you:

& we know in this email we risk alienating some, especially those who are scared of money & ‘selling’ or ‘being sold to.’ Hopefully not you, but we will get replies to this post & it will cut for some people.

We genuinely want you to succeed & would be honoured if we could help you, or just be a small chapter in a better part of your life & wealth story. However, if you don’t like our ‘directness’ then you really shouldn’t read on…

There are immediate actions you need to take right now in your finances, current business, portfolio or early property career that will see you well on the way to serious money for life, even perhaps before we get out of this Recession

These strategies are new, & not what is being taught elsewhere…

It’s the winners [‘contrarian’] & losers [‘masses’] scenario. We really believe that if you miss this opportunity you are not just ‘missing out on a couple of deals’ you are risking financial meltdown. We see it firsthand and it’s upsetting. If you are at all interested in Property as a vehicle for creating wealth, even if it is pure inquisition, just a 1% feeling, then you must cancel your plans & you need to be at the “Property Super Conference 2012”. Every event we have ever run has sold out & been full, you have seen the 100’s of video’s, audio’s & testimonials & we just wanted to give you one final chance to be there Saturday & Sunday March 3rd & 4th at Wembley stadium, London

We have personally been amazed at what ‘Ordinary People’ have achieved in a short space of time, far more than we did when we started, and we have taken a lot of time & put a lot of energy into getting as many experts as we could in one room for as powerful a weekend as you will find anywhere, with 6 new no money in strategies, 15-20 very candid interviews [2 are Ex Estate Agents!!] & a whole host of other benefits, 13.8K with of time limited bonuses & strategies that you would normally pay 1000’s for: all for less than a good meal for two

We can do nothing more. If you are prepared to give us a weekend of your time, go right now to this page, watch the video if you need details, then get an 85% discount, & please come up & say hi

https://progproperty.infusionsoft.com/go/PPSC2012LIVE/M884/

There are 13.8K worth of genuine bonuses, a money back guarantee, 15 special guests & the most inspiring, controversial Entrepreneur speaker the UK has ever seen

https://progproperty.infusionsoft.com/go/PPSC2012LIVE/M884/

Thank you for your time, it really means a lot

Invest for Freedom, Choice & profit

Rob & Mark

Co-Founders Progressive Property

Progressive Property Super Conference 3rd & 4th March 2012 - Wembley

The Biggest Property Networking Event of 2012

UK property market shows signs of life

UK Property Market Is Still Alive & Well

The overall number of properties ‘Sold’ in November 2011 was up +1.4% compared to November 2010 and up +0.1% against November 2009.

November has seen the UK’s residential property market start its traditional seasonal decline according to data released from the Agency Express Property Activity Index.

But whilst month on month properties nationally achieving ‘Sold’ status in November were down -7.1% on October 2011 and the number of new ‘For Sale’ listings recorded were down, by -11.8%, it was the second smallest November drop since the Index began in 2007.

Encouragingly, the overall number of properties ‘Sold’ in November 2011 was also up +1.4% compared to November 2010 and up +0.1% against November 2009.

Regionally, there were some positive signs with four of the twelve regions bucking the seasonal trend and showing positive figures for the number of properties ‘Sold’ in November against the previous month.

The North East topped the hot-spots up +18.8% on October, followed by the South West up +15.7% and Scotland up +12.0%.

When it came to the regional ‘not-so-hot-spots’ for November, West Midlands was bottom of the table with a drop in the number of properties ‘Sold’ down -15.9%, the South East was down -15.1% and the North West was down -15.0%.

The seasonal decline was more evident in the number of new ‘For Sale’ listings recorded in November against October, with only one region generating positive month on month figures, (which was London) up +7.8%.

At the other end of the table the regional ‘not-so-hot-spots’ for new ‘For Sale’ listings were Central, down -26.9%, Wales down -25.7% and Scotland down -23.9%.

Disappointingly, the number of ‘For Sale’ listings in November 2011 were also down -1.1% on the same month in 2010 but up +11.0% on November 2009.

A good number of individual cities bucked the seasonal trend and experienced increases in month on month house sales compared to October.

Nottingham topped the ‘hot-spots’ with an increase in properties ‘Sold’ in November, up +27.0%, followed by Newcastle up +25.3% and Colchester up +24.2%.

At the opposite end, the cities recording the greatest decline in month on month properties ‘Sold’ in November were Coventry down -58.8%, Southampton down -42.3% and Norwich down -27.4%.

There was a similar picture for individual cities when it came to New ‘For Sale’ activity in November compared to October.

Colchester topped the charts with a month on month increase of +13.7%, London up +7.8% and Brighton up +5.1%. Coventry saw the greatest monthly decline in new ‘For Sale’ listings compared to October, down -46.6%, with Bristol down -45.9% and Southampton down -39.2%.

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