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Suspicious Repo Double-Quick Sale?

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Cynics, take a look at this that came up as an email alert to me:


Sunday evening: appears on Rightmove at £380k[1]

Tuesday evening: standard repo notice added:

"We are acting for the mortgagees and have received an offer of £416,500 on the above property.Any interested parties must submit any higher offers in writing to the selling agent before an exchange of contracts takes place."

Am I too cynical in thinking that Mr EA warmed up his pal Mr D. Veloper that this was coming down the pike while he undervalued and took his time at getting the ad out. The bank gets told, "look an over the odds offer has come in and, by lucky chance, Mr D. Veloper has already arranged finance". Offer gets accepted and as the cash is ready time to exchange is v short - reducing the risk of deal being scuppered. There being not many people who (i) have cash to hand, (ii) know the area and (iii) are looking. Except me. But, you know what? I just can't be bothered anymore.

[1] Which struck me as cheap (by today's standards). Given that it's not a small place and it comes with a farm yard and a lot of demolishable/convertible redundant buildings.

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Looks like a good buy, if you can afford the fuel bills and maintenance costs.

I don't really know the area but for that to be valued at £380k looks like a bit of a joke. Do you know what it last sold for?

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I know someone in Sawtry looking for something exactly like this, in that area and in that price range with cash available ..... shame I don't like them :D

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