SarahBell Posted June 25, 2011 Share Posted June 25, 2011 (edited) Allsop Residential is pleased to announce the release of its fourth catalogue of the year. The sale will be held on Thursday 14th July at the Park Lane Hotel, Piccadilly, London, W1. A total of 315 lots will be offered (unless sold prior or withdrawn). 135 distressed lots 25 lots from 11 housing associations 5 lots from 2 local authorities 26 regulated tenancy investments 40 ground rent investments Are distrssed lots repos? Edited June 25, 2011 by SarahBell Quote Link to comment Share on other sites More sharing options...
Freeholder Posted June 25, 2011 Share Posted June 25, 2011 Allsop Residential is pleased to announce the release of its fourth catalogue of the year. The sale will be held on Thursday 14th July at the Park Lane Hotel, Piccadilly, London, W1. A total of 315 lots will be offered (unless sold prior or withdrawn). 135 distressed lots 25 lots from 11 housing associations 5 lots from 2 local authorities 26 regulated tenancy investments 40 ground rent investments Are distrssed lots repos? Usually yes. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted June 25, 2011 Share Posted June 25, 2011 (edited) Allsop Residential is pleased to announce the release of its fourth catalogue of the year. The sale will be held on Thursday 14th July at the Park Lane Hotel, Piccadilly, London, W1. A total of 315 lots will be offered (unless sold prior or withdrawn). (...) Catalogue: http://www.auction.co.uk/residential/onlineCatalogue.asp Edited June 25, 2011 by Tired of Waiting Quote Link to comment Share on other sites More sharing options...
jonb Posted June 25, 2011 Share Posted June 25, 2011 Allsop Residential is pleased to announce the release of its fourth catalogue of the year. The sale will be held on Thursday 14th July at the Park Lane Hotel, Piccadilly, London, W1. A total of 315 lots will be offered (unless sold prior or withdrawn). 135 distressed lots 25 lots from 11 housing associations 5 lots from 2 local authorities 26 regulated tenancy investments 40 ground rent investments Are distrssed lots repos? Repos are distressed lots Quote Link to comment Share on other sites More sharing options...
IDN Posted June 25, 2011 Share Posted June 25, 2011 some good opportunities in london there laymans question - if you're buying a house at one of these auctions - is the idea that you have the money rather than requiring a mortgage? im pretty sure thats the case - Quote Link to comment Share on other sites More sharing options...
Freeholder Posted June 25, 2011 Share Posted June 25, 2011 some good opportunities in london there laymans question - if you're buying a house at one of these auctions - is the idea that you have the money rather than requiring a mortgage? im pretty sure thats the case - You need to have the money. Either your own cash or a mortgage offer in place. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted June 25, 2011 Share Posted June 25, 2011 You need to have the money. Either your own cash or a mortgage offer in place. Won't a mortgage offer be conditional on a bank's surveyor/valuation? Quote Link to comment Share on other sites More sharing options...
inflating Posted June 25, 2011 Share Posted June 25, 2011 some good opportunities in london there laymans question - if you're buying a house at one of these auctions - is the idea that you have the money rather than requiring a mortgage? im pretty sure thats the case - When you say good opportunities, do you mean for vendors or mortgagees in possession? My experience when observing has been auction fever among the buyers, prices achieved usually well up on guide prices. The guide prices are just there to gain the interest of those who have not previously seen that auctions often achieve seriously north of them. If we're now back to the lack of interest in residential property that I can recall in HPCs of the past, where auction houses rooms were full of vendors with barely a buyer in sight, that's when I'd call it good opportunities time again Quote Link to comment Share on other sites More sharing options...
exiges Posted June 25, 2011 Share Posted June 25, 2011 (edited) Won't a mortgage offer be conditional on a bank's surveyor/valuation? Yep, which can be done in advance of the auction date. I recently attended an auction (at the property itself) in Northampton. There was a structural survey available for all to see. 10% had to be paid at the end of the auction, with completion in 4 weeks. Anecdotally, the house originally had a guide price of £750k (therefore expecting it to go for £900k) A week or so before the auction they reduced the guide to £550k.. and it sold for £640k Edited June 25, 2011 by exiges Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted June 26, 2011 Share Posted June 26, 2011 Yep, which can be done in advance of the auction date. I recently attended an auction (at the property itself) in Northampton. There was a structural survey available for all to see. 10% had to be paid at the end of the auction, with completion in 4 weeks. Anecdotally, the house originally had a guide price of £750k (therefore expecting it to go for £900k) A week or so before the auction they reduced the guide to £550k.. and it sold for £640k Thanks Exiges. Quote Link to comment Share on other sites More sharing options...
awaytogo Posted June 26, 2011 Share Posted June 26, 2011 Usually yes. I have seen a lot of repro's in auctions lately, a lot with setting tenants and good rent yealds, you could think that the tenants are plants to make the sale look healther than it is but most are up with recievers etc. Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 26, 2011 Share Posted June 26, 2011 I have seen a lot of repro's in auctions lately, a lot with setting tenants and good rent yealds, you could think that the tenants are plants to make the sale look healther than it is but most are up with recievers etc. the quoted rental inclomes always seem to be a lie AFAICT Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted June 29, 2011 Share Posted June 29, 2011 (...) The sale will be held on Thursday 14th July (...) Are you planning to check the results? If you do, it would be great to have some feedback on it, please? Quote Link to comment Share on other sites More sharing options...
SarahBell Posted June 29, 2011 Author Share Posted June 29, 2011 I don't normally watch this one but will post results when it's done unless someone beats me to it! Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted June 29, 2011 Share Posted June 29, 2011 I don't normally watch this one but will post results when it's done unless someone beats me to it! Great, thanks. Quote Link to comment Share on other sites More sharing options...
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