Secret Squirrel

I've also looked at a couple very similar in every way to this .. and am now actually thinking of making an offer on one . The people i've spoken to through enquires generally tell me that it's ok to have no management company , it generally means that nobody 's paying service charges etc .. and of course no work or maintanence gets done either ! They usually say that a management company will be found & then charges will be made in the near future ... I just wonder if they can try & hold you accountable for any arrears ? I'd think not being no company in place to pay . The property will still have a lease though i would've thought ?

I meant if i buy it would i still be able to rentit out without too many problems , but yes somebody would surely rent it Thanks Russ So as a landlord you require different insurance than a standard homeowner ? If so , then yes that could be a problem , but i do plan to live in it , i'm just weighing up my options & wondering if buy to let investors would be bidding to let it out also ?

Your best bet is to bid on Repo's and maybe auction properties , which is where cash really counts more , but estate agents won't really favour your low offers just because you're a cash buyer much more than anybody elses bids , but depends on buyer circumstances , how long has it been on the market etc etc .. The good properties sell fast so low bids generally won't get accepted in a hurry! gl

the people that live there obv have insurance so i think i'd get insured one way or another , probably at a slightly higher premium from a specialist company if needed to .. but it isn't much more compared to the £900 service charge on an apartment i recently bid on !

I see thanks again Monkey Do you need different insurance to rent a house out as opposed to it being your own then ? I thought it'd cover it all the same ..

I'm also a cash buyer & recently made an offer on an apartment , a guy with a mortgage offered a couple grand higher & they accepted his offer , so it all depends on the circumstances really , like said above money is all the same as long as they trust the mortgage will be Ok'd I think if i'd have offered the same , at the same time , they'd have accepted me first though , but people with mortgages will happily offer near the asing price without trying to haggle too much

Hey sorry have been busy viewing & making a few offers on apartments but all the good stuff sells for over my offers (probably to mortgage happy couples) The house hasn't gone to auction yet but i'm hoping to bid still I have a question though if anybody can answer , Would i still be able to rent this house out the same as any other if i ever needed to ?? I'm not buying it to let , but would be nice to know it still has a rental value if needed to be in the future

Not Grim Ah-so ... but probably more Remote .. damn you could move to Wales if you wanted too .. it depends how serious you are about making the change imo. Interesting your comments on inflation i partly agree , but rents will always rise with inflation if you took that route ? though i don't intend to die in a solid gold coffin either so your dole idea isn't as daft as it sounds either as you get a fair bit older .. a few antiques hidden away for a rainy day

I agree with Realist .. i plan to do similar if i can in future but from what i've learnt looking at repo's i 'd say buy One nice place for Yourself First ! I assume ou don't actually have 300k or your thoughts would be Very different

It all depends on your circumstances (kids?) and where you choose to live in the UK but i could easily retire on 300k as long as you're smart enough with your money Many on here will be stuck in the London rat race so will disagree & forever chase that rainbow , but you could buy a nice enough house for 100k & invest the rest . Why exactly do you need a few millon ? 200k is plenty to keep the bills & a few luxuries rolling in plus you don't need to live here you could travel & rent abroad or even live on a boat (think outside the box a bit) but enjoy the life you have left I agree that stocks are risky though & anything offering above standard rates refleft the level of risk involved , so tread carefully , invest yourself & wait for dips & troughs in the market .

Yes tbh it would put me off slightly .. do the lines buzz a lot ? Though if the price was slightly lower than down the road & the house was nice enough it's no reason not to buy it

Just a quick update I got quotes from go-compare which searched 89 insurers .. i put the information in as honestly as i know of & only One insurer said they'd insure me for around £367 .. though they'd need further information & a report to confirm it This is a little bit worrying though i'd happily pay the £367 to be insured on it outright .. though i've read there are specialist insurers for subsidised properties . The house is also going to Auction now .. so i'll maybe bid .. but not too high .. i do like the house & it could really sort me out if all turned out well .. it's a tricky one but thanks for your advice guys !

it all depends on how desirable the property is really .. condition .. rental value .. and how many other people are interested they probably are hoping for that kind of offer but is it worth 100k to you ? I'd maybe make a final offer and stick with it .. remember the 2007 price was at the peak of the market

If you really want the place i'd offer maybe 2k more .. as a Final Offer .. it could realistically be the difference between getting the place or not ... gl

He is also talking about a Repo Just use it as a very rough estimate if needs be .. but every property on Zoopla is estimated too high !