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gruffydd

Auction Property - N Ireland - What On Earth!

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Just saw an auction property in N Ireland - worked my way through auction pack - oh ANOTHER ONE - the house has no access and no easements - so no services and no way of getting to it - helicopter? Who on earth would buy it - are they even allowed to sell it, or is it simply buyers beware... I suppose the only bidder may be the person owning the access land! In which case, why go to auction? Why not just do private neg? Think it's Santander who repo'd the property - do mortgage lenders not even check things like access and easements?

I remember just down the road in my youth there was a big bomb attack - this was a troubled area in days of old but much calmer now (the odd pipe bomb, that is all).

Edited by gruffydd

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Link to the pack please, for a laugh.

Got an email today about a flat that looked OK, but I felt was a bit too much at £140K and maybe not in the best area. Googled it, and a couple of identical ones in the block sold for £95K a couple of years back....

....and the best bit was, I saw an article from a few years back where the people who bought the flats were taking legal action against the EA for lying about the secure parking. Rather than being secure, it actually had homeless folk sleeping in it.

A quick google is always useful when thinking about houses. The ever-optimistic NI property market.

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I keep seeing this time and again - what are the banks thinking? That they can actually sell this stuff on the open market? Bonkers!

I guess all it takes is one fool to come along to make a sale.

There's loads of houses and flats in this country that you wouldn't want the liability of owning at half their current prices. After viewing a 10 year old house recently in a 'prestigious' development that had the worst damp problems I've ever seen in a house (after only 10 years standing), I'd think twice about going for a new build either.

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Yes I've never seen such terrible housing stock in my life (other than in the odd specific area) - it really is strange. Then you head down south of the border and you're in concrete cancer land - is Drogheda the centre for that? You have to be so careful, you really do. I'm moving over for family reasons but may end up living in a tent at this rate!

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Oh that's another one I saw near Dungannon - nice house and all - NO CONSENT FOR DISCHARGE... so a house without sewerage... THEN... a lovely house but the builder had forgotten to put in the water - half built because the water connection would cost £50,000! Then there was the repo where the previous owners had chained up the gate when the viewing was in process. I could go on but it's getting beyond a joke now ha!

Seem to be a lot of family issues with property in some rural areas... you have no idea what you might be letting yourself in for.

Edited by gruffydd

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Yes I've never seen such terrible housing stock in my life (other than in the odd specific area) - it really is strange. Then you head down south of the border and you're in concrete cancer land - is Drogheda the centre for that? You have to be so careful, you really do. I'm moving over for family reasons but may end up living in a tent at this rate!

It used to bother me that I rented, but now I realize it's a pretty good deal. Nice apartment in one of the best blocks in the city.

Most of the houses are either old and falling apart, new builds which are tiny and/or poorly built, or beyond the reach of most people cost wise.

The great irony is that if you want a house that's built to a good standard that doesn't cost the earth, a council house is probably a good choice. If you're OK living in a housing estate.

Edited by JoeDavola

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Yes I think you're right - the trouble is moving to Moy area and no much to go for in terms of choice - I seriously dislike the local urban centres - Dungannon is some kind of dystopian town full of slaughter houses and migrant workers doing the slaughtering - Portadown I noticed seems to have gone that way too. I've never liked Armagh city for some reason. Really having second thoughts now but family pressures still there :-I

Edited by gruffydd

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Yes I think you're right - the trouble is moving to Moy area and no much to go for in terms of choice - I seriously dislike the local urban centres - Dungannon is some kind of dystopian town full of slaughter houses and migrant workers doing the slaughtering - Portadown I noticed seems to have gone that way too. I've never liked Armagh city for some reason. Really having second thoughts now but family pressures still there :-I

Have you considered applying for a job with the Dungannon tourist board? ;)

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I guess all it takes is one fool to come along to make a sale.

There's loads of houses and flats in this country that you wouldn't want the liability of owning at half their current prices. After viewing a 10 year old house recently in a 'prestigious' development that had the worst damp problems I've ever seen in a house (after only 10 years standing), I'd think twice about going for a new build either.

all houses were new built once. some just longer ago than others.

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Just found another one... nice house - huge mortgage... doesn't own the land it was built on by the looks of things... just a few miles from the other - WHAT THE HELL ARE THE BANKS DOING! Again, this was built on family land but not in the name of the householder... hence only the family can probably buy it for about 1/100th of its auction value- did the banks really not check such fundamental stuff?

How does it go in mortgage lending HQ... oh yeah, it doesn't matter if they own the land or the access - if the bricks are nice we're gonna lend?

Edited by gruffydd

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Just found another one... nice house - huge mortgage... doesn't own the land it was built on by the looks of things... just a few miles from the other - WHAT THE HELL ARE THE BANKS DOING! Again, this was built on family land but not in the name of the householder... hence only the family can probably buy it for about 1/100th of its auction value- did the banks really not check such fundamental stuff?

How does it go in mortgage lending HQ... oh yeah, it doesn't matter if they own the land or the access - if the bricks are nice we're gonna lend?

It's not the lender. It's the buyers solicitors acting for the lender. They usually act for both.

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