As per Wikipedia,“HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, England, United Kingdom. It is one of the world’s largest banks. It was founded in London in 1991 by the Hongkong and Shanghai Banking Corporation to act as a new group holding company. The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865. The HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation. As such, the company refers to both the United Kingdom and Hong Kong as its “home markets”.
HSBC has around 7,200 offices in 85 countries and territories across Africa, Asia, Europe, North America and South America, and around 89 million customers. As of 31 December 2012 it had total assets of $2.693 trillion, of which roughly half were in Europe, the Middle East and Africa, and a quarter in each of Asia-Pacific and the Americas. As of 2012, it was the world’s largest bank in terms of assets and sixth-largest public company, according to a composite measure by Forbes magazine”.
As one of the largest banks in the world, HSBC carries out an integral part in consumer lending nationwide. They have a massive portfolio of real estate and auto’s they carry financing on. As a natural byproduct of an uncertain economy HSBC on occasion will repossess financed cars, boats, motorcycles and real estate. HSBC Bank has created a convenient portal on their website for consumers to view current HSBC Bank repo listings for sale.
Interested buyers looking for bank owned cars, boats, and real estate can view current bank repos and foreclosures by visiting the HSBC–Bank repossession list
In most cases buyers are very pleased when purchasing directly from HSBC. HSBC is of course in the banking business so they are not working on a commissioned basis when you purchase an REO or repo from them. They are however well versed in consumer lending and will be able to guide you through the entire buying process to ensure you are protected and represented properly. HSBC is even willing to finance you on the spot for your purchase, and might even be able to advise you on an insurance quote through a preferred vendor.
Most of HSBC’s inventory available for sale is real property or REO holdings (also known as real estate owned), but inventory is subject to change daily. Because repossessions and foreclosures are sold “as-is”, it’s wise to consult a trusted professional prior to buying as well.