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

Just Bought At Auction...what Inflation?!?

Recommended Posts

...buy at auction.Have patience, get the mortgage in order (if needed)...research...go for the kill. Just bought my first flat...55K city centre (fully furnished too!). Last sold November 2001 for 105k. Seems like a bargain:) Not new-build either but a nice conversion job.

IMO dont bother waiting for mr & mrs jones's to drop their house 3% every 12 months...

Any similar experiences out there?...

Share this post


Link to post
Share on other sites

Do you change your story every time the wind blows?

You say you have owned previously

http://www.housepricecrash.co.uk/forum/index.php?showtopic=182651&view=findpost&p=909133639

You say you are going to Florida to buy there

http://www.housepricecrash.co.uk/forum/index.php?showtopic=182500&view=findpost&p=909129637

Are you perhaps an architect VI who enjoys winding up HPC posters?

http://www.housepricecrash.co.uk/forum/index.php?showtopic=182665&view=findpost&p=909133627

pwnt

whats a vi?

Share this post


Link to post
Share on other sites

pwnt

whats a vi?

Vested interest. self serving toe rags.

I would caution about buying flats at any price. It was common practice in the boom to sell a flat with a £150k or so asking and then give 50% cashback. The buyer could get a bloated mortgage, pay XXX amount, thus giving the developer a false value to submit to the LR and that becomes the 'market price' The buyer would get 50% back to spend on a boob job/range rover sport/holidays etc. Of course, every so often an idiot would come along and pay full price, but most of these sales prices for flats (esp in northern cities) between 2000-2007 are utterly fallacious.

The surveyors should be done for fraud.

Share this post


Link to post
Share on other sites

...buy at auction.Have patience, get the mortgage in order (if needed)...research...go for the kill. Just bought my first flat...55K city centre (fully furnished too!). Last sold November 2001 for 105k. Seems like a bargain:) Not new-build either but a nice conversion job.

IMO dont bother waiting for mr & mrs jones's to drop their house 3% every 12 months...

Any similar experiences out there?...

I think you're right. I been looking at the recently published auction results ( all kudos to M21er for the great piece of research ), and can hardly believe some of the bargains out there.

Over 11% gross returns on a BTL with the strong possibility of capital gains as the icing on the cake ....... what's not to like about that ???

I'm presently living in Australia but considering a move back to my original home in the West country. I'll be visiting U.K. later this month to inspect a two bed-roomed flat overlooking the harbour of a Cornish village with an asking price of GBP 115K. As a potential cash buyer and able to proceed immediately, I'll be hoping to knock a few bob off the asking price, especially since the unit has been on the market for some time, and the great summer influx of potential buyers is now almost over :)

Of course the usual crowd of doom and gloom wannabee's will try to tell anyone who has the patience to listen, that they will soon be selling four bed-roomed detached houses in nice areas for thirty bob each, but they've been singing that song for quite some time now. I wonder when was this site created, and what was the average house price at the time ?

House Price Crash ???...............It's here right now you mugs.......fill yer boots :)

Share this post


Link to post
Share on other sites

I think you're right. I been looking at the recently published auction results ( all kudos to M21er for the great piece of research ), and can hardly believe some of the bargains out there.

Over 11% gross returns on a BTL with the strong possibility of capital gains as the icing on the cake ....... what's not to like about that ???

I'm presently living in Australia but considering a move back to my original home in the West country. I'll be visiting U.K. later this month to inspect a two bed-roomed flat overlooking the harbour of a Cornish village with an asking price of GBP 115K. As a potential cash buyer and able to proceed immediately, I'll be hoping to knock a few bob off the asking price, especially since the unit has been on the market for some time, and the great summer influx of potential buyers is now almost over :)

Of course the usual crowd of doom and gloom wannabee's will try to tell anyone who has the patience to listen, that they will soon be selling four bed-roomed detached houses in nice areas for thirty bob each, but they've been singing that song for quite some time now. I wonder when was this site created, and what was the average house price at the time ?

House Price Crash ???...............It's here right now you mugs.......fill yer boots :)

Why not wait a few months and buy that flat at £40K.

Edited by Daft Boy

Share this post


Link to post
Share on other sites

Of course the usual crowd of doom and gloom wannabee's will try to tell anyone who has the patience to listen, that they will soon be selling four bed-roomed detached houses in nice areas for thirty bob each, but they've been singing that song for quite some time now. I wonder when was this site created, and what was the average house price at the time ?

House Price Crash ???...............It's here right now you mugs.......fill yer boots :)

"Doom and gloom wannabees"...... your sentiment betrays your vested interest :rolleyes:.

Four bedroom detached houses for thirty bob each? I doubt that, but I do expect them to be 30% or 40% less than they are now, in a few years.

Share this post


Link to post
Share on other sites

"Doom and gloom wannabees"...... your sentiment betrays your vested interest :rolleyes:.

Four bedroom detached houses for thirty bob each? I doubt that, but I do expect them to be 30% or 40% less than they are now, in a few years.

I agree. It's pretty transparent to me, and I expect to most of us HPCers. Bargains indeed! Pfff.

Share this post


Link to post
Share on other sites
I'll be visiting U.K. later this month to inspect a two bed-roomed flat overlooking the harbour of a Cornish village with an asking price of GBP 115K. As a potential cash buyer and able to proceed immediately, I'll be hoping to knock a few bob off the asking price, especially since the unit has been on the market for some time, and the great summer influx of potential buyers is now almost over :)

So only 15 times local wages, then. Bargain.

And managing it from Australia should be easy.

Easy money, eh? :)

Share this post


Link to post
Share on other sites

....so you live in a home you own outright.....got £115K in cash reddies......I could think of lots of things to do with it and places to go using it..... buying more bricks would not be one of them. :)

Share this post


Link to post
Share on other sites

Vested interest. self serving toe rags.

I would caution about buying flats at any price. It was common practice in the boom to sell a flat with a £150k or so asking and then give 50% cashback.

Absolute nonsense. 5% perhaps, 50% never!

tim

Share this post


Link to post
Share on other sites

...buy at auction.Have patience, get the mortgage in order (if needed)...research...go for the kill. Just bought my first flat...55K city centre (fully furnished too!). Last sold November 2001 for 105k. Seems like a bargain:) Not new-build either but a nice conversion job.

IMO dont bother waiting for mr & mrs jones's to drop their house 3% every 12 months...

Any similar experiences out there?...

IME you have to get exceptionally lucky to get a bargin property at auction that you would be prepared to live in. Most are either absolute dumps on sink estates or sell for pretty close to "full" value.

If you've done this then well done (and some more info woukld be appreciated).

tim

Share this post


Link to post
Share on other sites

It's quite hard to keep cows, in a flat, so, I hope you don't have any! :o

Share this post


Link to post
Share on other sites

It's quite hard to keep cows, in a flat, so, I hope you don't have any! :o

Actually, getting them into a flat is easy. Cows will walk up stairs.

However, getting them out again is a problem. There is a common belief that cows will not walk down stairs.

Share this post


Link to post
Share on other sites

Actually, getting them into a flat is easy. Cows will walk up stairs.

However, getting them out again is a problem. There is a common belief that cows will not walk down stairs.

Stairs are usually not a natural part of a cow's environment. :blink:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 399 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%



×
×
  • Create New...

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.