[SarahBell]

No viewings – Mortgagee not in possession therefore no keys/access available


http://www.rightmove...y-33179977.html

Went to auction I think a while ago. Didn't sell.
A substantial three storey premise which has been extended and is understood to be Grade II listed although buyers are advised to make their own enquiries. The property is believed to consist of a retail/showroom to the ground floor with up to eight bedsits and one self contained flats to the first and second floor.

[pyracantha]

SarahBell, on 25 February 2012 - 11:07 AM, said:

The property is believed to consist of a retail/showroom to the ground floor with up to eight bedsits and one self contained flats to the first and second floor.

The don't even know what they are selling?!

[Mrs Bear]

SarahBell, on 25 February 2012 - 11:07 AM, said:

No viewings – Mortgagee not in possession therefore no keys/access available


http://www.rightmove...y-33179977.html

Went to auction I think a while ago. Didn't sell.
A substantial three storey premise which has been extended and is understood to be Grade II listed although buyers are advised to make their own enquiries. The property is believed to consist of a retail/showroom to the ground floor with up to eight bedsits and one self contained flats to the first and second floor.

'No viewings' doesn't seem to put off some of the HUTH punters. Time and again someone who hasn't set foot inside the front door has bought a place. Sometimes they've come to bid on something else, been outbid, and thought, well, since we're here.... No details but the very basics, no legal pack, nothing.

To be fair to the presenters (goes against the grain, I know) they do usually throw a polite sort of fit and point out what an incredibly daft and expensive mistake this can be.

[satch]

Mrs Bear, on 25 February 2012 - 11:36 AM, said:

'No viewings' doesn't seem to put off some of the HUTH punters. Time and again someone who hasn't set foot inside the front door has bought a place. Sometimes they've come to bid on something else, been outbid, and thought, well, since we're here.... No details but the very basics, no legal pack, nothing.

To be fair to the presenters (goes against the grain, I know) they do usually throw a polite sort of fit and point out what an incredibly daft and expensive mistake this can be.

But it always works out good in the end ... these canny investors all have an offer to 'rent it out until the market recovers' for more than the EA's estimated rent.

[Mrs Bear]

satch, on 25 February 2012 - 11:41 AM, said:

But it always works out good in the end ... these canny investors all have an offer to 'rent it out until the market recovers' for more than the EA's estimated rent.

Not quite always - non-standard construction, a lot more work than they'd expected, all taking a lot longer and costing far more than they'd bargained for, hefty payments going out and nothing coming in for months.
Sometimes years.
Of course they always put the best possible spin on it, but hardened old sceptics like moi can easily read between the lines.

[satch]

Mrs Bear, on 25 February 2012 - 11:47 AM, said:

Not quite always - non-standard construction, a lot more work than they'd expected, all taking a lot longer and costing far more than they'd bargained for, hefty payments going out and nothing coming in for months.
Sometimes years.
Of course they always put the best possible spin on it, but hardened old sceptics like moi can easily read between the lines.

But many others can't, and all they see is some pompous 'property developer' saying that although the EA recommends trying to get £600 per month rent they have already got someone who will pay £750 .... and then when they sell ... of course that's profit of £50,000 .... before expenses and costs ... but they haven't actually sold, they have an 'offer' probably from a mate so the program has a happy ending, we all love happy endings.

[tiremola]

Had a look at this on Google street view. It was a bathroom supplies shop and depot, on a main road. I have never been to Failsworth – anyone?

The building itself looks 1820-1840s in its construction, roofline and proportions. If the floor above has been converted into small bedsits, they might be very grotty. There is the dead-end of a canal or something like it across the road.

I expect the building itself it has massive dry rot, or something equally catastrophic, which would account for the very low price, plus of course, the listing. It looks doomed.

[Saving For a Space Ship]

tiremola, on 25 February 2012 - 08:13 PM, said:

Had a look at this on Google street view. It was a bathroom supplies shop and depot, on a main road. I have never been to Failsworth – anyone?

The building itself looks 1820-1840s in its construction, roofline and proportions. If the floor above has been converted into small bedsits, they might be very grotty. There is the dead-end of a canal or something like it across the road.

I expect the building itself it has massive dry rot, or something equally catastrophic, which would account for the very low price, plus of course, the listing. It looks doomed.

shush..you've just trebled the value !

with words like 'Failsworth' and in the photo ' All Blindz', something is telling me to stay away

[SarahBell]

The canal goes underneath the road to the basin area where they have a festival in the summer. It's got a bar on one side.

The little road behind goes to the 'gypsy' camp on the canal bank.

It is right opposite the new library though (not updated on the streetview) next to which there is now an aldi and some new shops and soon to be a kfc.

[jonb]

SarahBell said:

1330250821[/url]' post='3271057']
The canal goes underneath the road to the basin area where they have a festival in the summer. It's got a bar on one side.

The little road behind goes to the 'gypsy' camp on the canal bank.

It is right opposite the new library though (not updated on the streetview) next to which there is now an aldi and some new shops and soon to be a kfc.

Vibrant up and coming area. Great potential for capital gains ...