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Two-Bed Property Goes For 8,250 Times The Asking Price (Well, Bidding Did Start At 1!)


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#1 interestrateripoff

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Posted 28 March 2012 - 06:48 PM

http://www.dailymail...id-start-1.html

A house thought to be the cheapest in Britain has sold for just 8,250.

Bidding began at the princely sum of 1 for the two-bed property, which is in the village of Ferryhill Station, County Durham.

But its new owner faces a hefty refurbishment bill. All of the windows are boarded up and vandals have spray painted graffiti on walls.


A steal if bought for BTL and get HB tenants in?

I'm guessing the area isn't the best?

Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

 

"The trouble with the world was that prices were so low that only the rich people could buy and the aim of the Conference was to raise them to a point where it would again be possible for poor people to buy something."

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#2 Patfig

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Posted 29 March 2012 - 11:49 AM

http://www.dailymail...id-start-1.html



A steal if bought for BTL and get HB tenants in?

I'm guessing the area isn't the best?

I grew up near there and to be honest its not as bad as you might think.
The area has always been cheap hisorically.
Life is like a sh1t sandwich, the more bread the better!

#3 awaytogo

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Posted 31 March 2012 - 01:54 PM

http://www.dailymail...id-start-1.html



A steal if bought for BTL and get HB tenants in?

I'm guessing the area isn't the best?


We will see more of these in the future.

#4 eight

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Posted 31 March 2012 - 03:28 PM

I grew up near there and to be honest its not as bad as you might think.
The area has always been cheap hisorically.


Trains pass within 50ft at 125mph.
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#5 Ulfar

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Posted 31 March 2012 - 08:59 PM

Looking at the brickwork with large parts being very new, it looks like a train has run into it.




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