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Secret Squirrel

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Everything posted by Secret Squirrel

  1. 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 ?
  2. 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 ?
  3. 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
  4. 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 !
  5. 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 ..
  6. 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
  7. 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
  8. 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
  9. 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
  10. 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 .
  11. 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
  12. 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 !
  13. 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
  14. 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
  15. 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 !
  16. I've looked at places selling for 70-80k and Zoopla still estimates them at 116k and above I'd rather not be told they're worth 116k if you get my drift .. Area stats are always useful of course but their price estimates are just about useless imo
  17. After all fee's that equates to a 5.3% yield for the 83k buyer I'd say you got a very fair price tbh
  18. I've seen that 2 of the surrounding houses have sold for around 60k ish .. which i suspect is the true value of them now (unless they were 50% shares which i doubt) .. yet the rest of the street are as normal
  19. I haven't checked yet no i'm just weighing up the pro's/cons before i decide .. but insurance is the big factor for me as a cash buy it would be quite devestating if i eventually had to 'write off the price completely' as you say but i don't see how. a Hypothetic Question i have is if i'd been the original buyer for 115k before the problem happened & i 'd made a claim (Like next door) would i of been reimbursed for any loss of capital/ resale value ? or have they had to 'bite the bullet' ?
  20. Sorry for the delay in replying that's good advice Yes i'm also curious as to why the problem wasn't rectified by the original builders .. it seems they were all built around 99/2000 so the house would only have been 6 years old at the time .. In the report it said to the owners 'if you wish to procede with further works then notify us with payment' or words to that effect .. so i guess they never took it any further .. but not 100% sure .. i need to view & speak to them again I don't know too much about geology either but will look into getting the report done a bit more Thanks again Monkey
  21. Cheers .. But surely the insurance either covers me or not .. i guess this is the real issue .. more than the movement .. i'll ask the owners more It's a 2 bed semi ... about 15 years old .. and yes i'm pretty sure it's Land related .. there was a known landfill site nearby in the searches (scary) Next door made a claim and had boreholes etc .. dug to start works back in 2006 , but it doesn't tell any more than that .. I'll look in the Report ... i'm going to view the house again first i think
  22. Thanks Monkey I thought the whole point of Building insurance is that they'll cover the works if it does get worse in the future ??? I read i'll most likely have a 1k excess due to the risk ... i'll happily pay 1k if it happens , it's pennies but i don't wish to pay 15k to sort it out if need be .. No definitely not ! but i wouldn't have to would i ? I don't know the exact reason the engineers report says the concrete raft may have shifted very slightly I guess the land has just slipped very slightly i read 2005 was the worst year ever as it was so dry It's not due to tree's etc as there aren't any only very small ones and as i say it's hard to tell by looking there aren't any cracks etc .. the back window is said to of shifted slightly but all looks good enough surely it would of gotten worse during the last 5 years if it was going to ?
  23. For a start don't use Zoopla .. the sites estimates are a compete joke .. enter the postcode & use rightmoves sold prices in the street as a rule banks won't generally accept your first offer .. as they think you will always up it slightly . I haven't a clue what the property is & how much you really want it .. and they won't tell you the offer if a higher offer is made .. but if you're the only bidder play the game ... in seriousness they probably do want more ( don't we all) .. but it sounds like you really need a more specific estimate of it's real value .. gl with it
  24. I agree that 75k looks a bit on the high side for such a risk though .. i'm thinking slightly less if poss to make it worthwhile I guess the real reason is i'm sick to death of waiting .. the world is in complete chaos & do prices drop ... well ok very very slightly .. it's hardly even noticable .. Greedy estate agents still have a job to do & sellers still hold out for every last penny I'm almost 37 and have never owned my own place ... how long does a guy wait ? 39 ? 42 ? 47 ? Half the repo's i've looked at are in worse states than this ... and do they tell you anything .... no sorry .. we can't get in contact with thier solicitors the whole industry is a joke imo .. from agents to building surveyors .. what would a survey even tell me i don't already know .. it's risky .. yes thanks here's your £300
  25. very good Sam .. but the reason to bother is i'd be getting a house that'd cost 115k usully for almost Half the price .. and where is this sea of unsold houses i can take my ripe pick from .. i've been looking for years now & they're the inflated ones imo :angry: The thing is there's nothing visually wrong with it .. so as long as it doesn't fall down i'll have a nice home for the next 10 years like Frank says .. even if i pay over inflated insurance it's no more than a 'service charge ' and i'd have no rent or mortgage to pay another reason is i don't have 115k ....
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