Jump to content
House Price Crash Forum
Sign in to follow this  
furan

Auction Process

Recommended Posts

Browsing the latest Barnard Marcus auction catalogue for the auction to be held tomorrow, 10th September, I found this;

House

Now, I was really just interested in what this might go for and thought I'd perhaps view it and see what happened. [As it turns out it's on a busy corner at a roundabout and I'm not that interested but...]

I called about 2 weeks ago and asked to arrange to see it. I got a call back and was told there would be no viewings as this is a tenanted proprty and no consent had been given to have people view it... Is this normal?

I then asked how anyone could make a decision on buying without even viewing!? I was told that the legal documents would be produced in advance of the auction and they would guide buyers... Really?

So, is this just a stitch up? Is the current tenant just purchasing this? Is this all just perfectly normal in the auction world...?

Share this post


Link to post
Share on other sites

Sounds like a LL trying to avoid a void between end of tenancy and sale... nice try! Most buyers will insist on several visits before making an offer, and a surveyor would require access as well.

(Alternatively the owner is just trying to conceal a trans-dimensional portal to Hell in the basement that he hasn't been able to close despite shelling out a fortune on exorcism.)

Share this post


Link to post
Share on other sites
Guest happy?
Browsing the latest Barnard Marcus auction catalogue for the auction to be held tomorrow, 10th September, I found this;

House

Now, I was really just interested in what this might go for and thought I'd perhaps view it and see what happened. [As it turns out it's on a busy corner at a roundabout and I'm not that interested but...]

I called about 2 weeks ago and asked to arrange to see it. I got a call back and was told there would be no viewings as this is a tenanted proprty and no consent had been given to have people view it... Is this normal?

I then asked how anyone could make a decision on buying without even viewing!? I was told that the legal documents would be produced in advance of the auction and they would guide buyers... Really?

So, is this just a stitch up? Is the current tenant just purchasing this? Is this all just perfectly normal in the auction world...?

It states it's on an AST - normally viewing would be arranged in reasonable hours.

You can see that the property is on a busy road from the photograph and that there's a hazard ahead - the hazard warning lines tell you this.

I'm always amazed at the number of people who don't understand the significance of the lines on the carriageway.

Share this post


Link to post
Share on other sites
It states it's on an AST - normally viewing would be arranged in reasonable hours.

You can see that the property is on a busy road from the photograph and that there's a hazard ahead - the hazard warning lines tell you this.

I'm always amazed at the number of people who don't understand the significance of the lines on the carriageway.

I asked about viewing and was told there would be none.

What does 'AST' mean, is this assured short-term tenancy? In any case, I was told there was no way it could be viewed.

And no... I hadn't noticed the hazard lines from the photograph, though I'm well aware of what they mean. Instead I use more modern tools ...

Street View

Share this post


Link to post
Share on other sites
So, is this just a stitch up? Is the current tenant just purchasing this? Is this all just perfectly normal in the auction world...?

The seller can sell on whatever terms he likes (as long as they are clear)

If this reduces the price obtained then that is his problem

tim

Share this post


Link to post
Share on other sites
Guest happy?
I asked about viewing and was told there would be none.

What does 'AST' mean, is this assured short-term tenancy? In any case, I was told there was no way it could be viewed.

And no... I hadn't noticed the hazard lines from the photograph, though I'm well aware of what they mean. Instead I use more modern tools ...

Street View

Yes, assured shorthold tenancy. All sounds very odd to me - I wouldn't bid at auction without having a survey and I wouldn't commission a survey before viewing it.

There are only three reasons to sell at auction:

- to establish a public price (where relatives quibble over a will).

- to sell quickly (to raise cash)

- to dispose of an unmortgageable property (probably has subsidence)

They're hiding something and it ain't a bargain.

Stay away!

Share this post


Link to post
Share on other sites
Yes, assured shorthold tenancy. All sounds very odd to me - I wouldn't bid at auction without having a survey and I wouldn't commission a survey before viewing it.

This is normal for auction properties when the property is let.

The tenant has the right to 'quiet enjoyment'. In other words, the tenant must not be disturbed on landlord's business. To disturb the tenant on landlord's business is to commit a criminal offence of harrasment.

If someone wants to view, then this is strictly by appointment with the tenant, and only if the tenant has made clear that they would accept viewings. If the tenant has said they are not interested and they are not to be contacted, then that is their right.

Share this post


Link to post
Share on other sites
Guest happy?
This is normal for auction properties when the property is let.

The tenant has the right to 'quiet enjoyment'. In other words, the tenant must not be disturbed on landlord's business. To disturb the tenant on landlord's business is to commit a criminal offence of harrasment.

If someone wants to view, then this is strictly by appointment with the tenant, and only if the tenant has made clear that they would accept viewings. If the tenant has said they are not interested and they are not to be contacted, then that is their right.

Sounds like the landlord has a great relationship with their tenant.

Share this post


Link to post
Share on other sites

The details say it's on an ast until July 2010, with an option to extend to 2011.

It brings in over £40k/year on an AST... you can't use an AST for more than £25k. This agreement is something else. Maybe it's a corporate let.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   292 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.