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peter_2008

50% Crash Finally Here?

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After seeing thousands of ridiculous reserve prices, I just found this lot on rightmove

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=BRANCH%5E12815&sortByPriceDescending=false&includeSSTC=true&_includeSSTC=on

The interesting thing about this EA is that it’s a small/medium local auctioneer. It is not even a real property auction specialist. Most of its business is actually buying selling farming lands, stocks and antics. It’s a very odd choice to sell vendors’ properties.

I wonder whether it is the mortgage lenders trying to start selling repos quietly without causing a stir in the market.

The guide prices seem all very reasonable. At least 50% lower than other asking prices. The guide prices indicate that the vendors are prepared to sell at that kind of price is certainly a change. I am rather attempted.

But strange thing is that, for example this one:

http://www.rightmove.co.uk/property-for-sale/property-33988640.html?premiumA=true

This says I CANNOT actually inspect the house. I just have to roll the dices?!

I wonder if this is actual a tactic to get rid of amateurs (like me) and attract a few professionals who know well of the local area, therefore get some serious offers.

Any thoughts? Are these worth doing a £4 land research?

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After seeing thousands of ridiculous reserve prices, I just found this lot on rightmove

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=BRANCH%5E12815&sortByPriceDescending=false&includeSSTC=true&_includeSSTC=on

The interesting thing about this EA is that it’s a small/medium local auctioneer. It is not even a real property auction specialist. Most of its business is actually buying selling farming lands, stocks and antics. It’s a very odd choice to sell vendors’ properties.

I wonder whether it is the mortgage lenders trying to start selling repos quietly without causing a stir in the market.

The guide prices seem all very reasonable. At least 50% lower than other asking prices. The guide prices indicate that the vendors are prepared to sell at that kind of price is certainly a change. I am rather attempted.

But strange thing is that, for example this one:

http://www.rightmove.co.uk/property-for-sale/property-33988640.html?premiumA=true

This says I CANNOT actually inspect the house. I just have to roll the dices?!

I wonder if this is actual a tactic to get rid of amateurs (like me) and attract a few professionals who know well of the local area, therefore get some serious offers.

Any thoughts? Are these worth doing a £4 land research?

where does it say you can't inspect the house?

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where does it say you can't inspect the house?

I called the agent and they said i can ONLY stand outside and have a look. I guess there is a renter living in?

Some of those strips of land are just about big enough to walk a dog on. Why would anyone buy them? To charge dog-walkers?

Sorry didn't pay attention to lands. And yes some of them are aweful, but there are a lot reasonable ones.

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I called the agent and they said i can ONLY stand outside and have a look. I guess there is a renter living in?

That is absolutely outrageous. All standard rental contracts allow for inspection by landlord or his agents - even for inspection by potential buyers. There could be a problem tenant there.

I suppose an unuscrupulous and cynical landlord would go ahead and buy sight unseen, insure to the hilt, then use every means possible to evict the tenant. :o

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That is absolutely outrageous. All standard rental contracts allow for inspection by landlord or his agents - even for inspection by potential buyers. There could be a problem tenant there.

I suppose an unuscrupulous and cynical landlord would go ahead and buy sight unseen, insure to the hilt, then use every means possible to evict the tenant. :o

That's the strange thing. I can't figure out why they won't let people see it. The stated rental income seem very low. I wonder if it is a DSS on 20 years unterminatable lease or something? But some of the houses seem too good to be DSS. Would I be able to find out that kind of thing from publically available information (other than talking to neighbours)?

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That is absolutely outrageous. All standard rental contracts allow for inspection by landlord or his agents - even for inspection by potential buyers. There could be a problem tenant there.

I suppose an unuscrupulous and cynical landlord would go ahead and buy sight unseen, insure to the hilt, then use every means possible to evict the tenant. :o

Rental contracts allow for inspection by a landlord in order to fulfill his or her duties as a landlord and to inspect the condition of the property, they do not have anything to do with a buyer being allowed to view a property.

So assuming its the tenant who is stopping viewings, they are not a problem tenant they are just a person executing their legal right over the dwelling they are paying to occupy, and why shouldnt they!

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Rental contracts allow for inspection by a landlord in order to fulfill his or her duties as a landlord and to inspect the condition of the property, they do not have anything to do with a buyer being allowed to view a property.

So assuming its the tenant who is stopping viewings, they are not a problem tenant they are just a person executing their legal right over the dwelling they are paying to occupy, and why shouldnt they!

Last time I rented there was a clause that towards the end of the tenancy you had to allow inspection by potential new tenants.

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Last time I rented there was a clause that towards the end of the tenancy you had to allow inspection by potential new tenants.

That clause isnt worth the ink it was printed on. The law states you have to let the landlord in for conditional viewings/repairs as required, beyond that you as the tenant have the absolute right to deny access to anyone for any reason unless they are legally appointed (i.e the plod etc)

The clause cannot override either the tenants right to quiet enjoyment or more importantly the legal right of the principle occupier to control access to the property

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That is absolutely outrageous. All standard rental contracts allow for inspection by landlord or his agents - even for inspection by potential buyers.

Such a contract term cannot be enforced.

Many tenantas do not want the bother of 100s of people trapsing through for a look-see. And why should they?

tim

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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