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Fudge

Cash Buyers Only

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Doing my daily scan on Rightmove for my area, and this newly advertised house stood out like a sore thumb.

Its a bargain for the area. Looking at the details it says cash buyers only at auction.

Do they advertise repossesed houses on Rightmove now? Not noticed this before.

Link

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Almost certainly a repo; the sale of which will set a new (low) MV for the area!

We will see much more of this in 2006............

Any idea what the previous purchase price was?

Edited by Red Baron

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Doing my daily scan on Rightmove for my area, and this newly advertised house stood out like a sore thumb.

Its a bargain for the area. Looking at the details it says cash buyers only at auction.

Do they advertise repossesed houses on Rightmove now? Not noticed this before.

Link

"Cash buyers only" should normally set alarm bells ringing - it usually means that no bank on earth would lend against it (usually applies to high rise council blocks, pre-fabs, and buildings that either have a lease measured in minutes or are falling down.)

In this case it is more likely to be because of the auction conditions - normally you have to complete in something like 14 days, which isn't time enough to raise a loan.

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I suspect , as the others do it is due to structural problems,

making it unnmortgagable.

Depeding on the problems, it may or may no be fixable.

If not fixable, the price should be the same or nearly

the same a a plot of undeveloped land, possibly less to

offset demolition or repair costs.

ABB

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No.

There are these funny things called telephones that open up a whole new world.

Try them sometimes.

A classic example of HPC brigade assumption.

And remember what assume makes :lol:

Whats wrong with it?

It doesnt look that old - must be 10yrs + or it would be NHBC covered if it is a structural issue

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No.

There are these funny things called telephones that open up a whole new world.

Try them sometimes.

A classic example of HPC brigade assumption.

And remember what assume makes :lol:

Tellingbones? Never heard of them.I'll look that up on google! Cheers for the techno tip.

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Looking at Nethouseprices, something strange going on in that street, look at houses 3 & 18

Link

Could be different house types, not sure you can read that much into it.

Will be on opposite sides of the road - maybe the even numbers are built on top of industrial waste!

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Looking at Nethouseprices, something strange going on in that street, look at houses 3 & 18

Link

very odd... Number 18 sold for 46,666 less only one year after, it also looks like everyone is discovering the problem at different times.... Number 3 only sold for 10k less than the buying price.

Edited by moosetea

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Looking at Nethouseprices, something strange going on in that street, look at houses 3 & 18

Link

Look at number 3 Warwick Gardens, why bail out in less than 6 months at a loss of nearly £10k when you add in stamp duty and fees? Maybe a flip gone wrong or something that is systematic given the number of properties affected.

It may be another case of a new build estate dropped on a flood plain from looking at the maps.

Hrm, Warwick Gardens is right next to a trunk road (A605), very noxious apparently, but that didn't appear overnight. Very odd.

Edited by BuyingBear

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Could be different house types, not sure you can read that much into it.

Will be on opposite sides of the road - maybe the even numbers are built on top of industrial waste!

What I mean is no 18 seems to have dropped £40,000 in 3 months

No 3 £8,000 in 6 months. All in 2005.

How accurate are these nethouse figures? I thought they were from the Land Registry.

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What I mean is no 18 seems to have dropped £40,000 in 3 months

No 3 £8,000 in 6 months. All in 2005.

How accurate are these nethouse figures? I thought they were from the Land Registry.

The house in the pic is probably number 18 - some mugs have bought it thinking they were getting a bargain and would be able to flip it. . . . . then they found out it was falling down.

:D:D

"As safe as houses I tell ya!" :lol:

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http://www.investmentlanddirectory.co.uk/b...st-midlands.htm

In the Rushden/Thrapston area of East Northamptonshire the A6 Rushden/Higham Ferrers Bypass has recently opened and this has released new areas of land for residential development although no details of transactions are yet to hand. There have been a few sales in Thrapston but several of these are difficult to analyse because of heavy contamination problems. However, some sales of greenfield sites indicate that values remain unaltered from the last report.

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Interesting, opposite the estate just over the A605 there appears to a new industrial estate which includes a nice plastics factory and haulage company. That would explain the nox levels, just because the readings were taken at the road doesn't mean they come from the road itself.

Edited by BuyingBear

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try homecheck.co.uk for free. useful little site.

Very useful

Could be a number of things Link

Link doesnt seem to go to info, postcode is NN144XB

Think I will pass on this one.

I thought it was the solicitors job to check houses out for you, and I bet the local estate agents

knew these where duff when they sold em.

Edited by Fudge

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Very useful

Could be a number of things Link

Think I will pass on this one.

I thought it was the solicitors job to check houses out for you, and I bet the local estate agents

knew these where duff when they sold em.

I cant see contamination necessarily coming up on searches a solicitor would normally carry out.

Its just a pity if some poor private buyer ends up in this type of mess.

I once ended up witha small site which turned out to be contaminated by diesel - we had to dig out tons which had to be disposed of as hazerdous waste. Cost £26000 on a 1/4 acre site. Nothing had come up on searches.

Of course you kick yourself afterwards for not having had soil tests done.

Bui would a private domestic buyer even consider that.

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I cant see contamination necessarily coming up on searches a solicitor would normally carry out.

Its just a pity if some poor private buyer ends up in this type of mess.

I once ended up witha small site which turned out to be contaminated by diesel - we had to dig out tons which had to be disposed of as hazerdous waste. Cost £26000 on a 1/4 acre site. Nothing had come up on searches.

Look at this planning application in the same area, lots of requirements for oil separators and other niceties.

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very odd... Number 18 sold for 46,666 less only one year after, it also looks like everyone is discovering the problem at different times.... Number 3 only sold for 10k less than the buying price.

You're all taking the word of one poster and/or his/her estate agent as the truth. Seems exteremely unlikely that they are all hit by structural problems! Could all be down to BTLs getting out, or over-extended home-owners desperate to sell... dare I suggest, a crash?!

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You're all taking the word of one poster and/or his/her estate agent as the truth. Seems exteremely unlikely that they are all hit by structural problems! Could all be down to BTLs getting out, or over-extended home-owners desperate to sell... dare I suggest, a crash?!

I would suggest the level of activity in the locality is too high for it just to be a price issue.

You wouldnt normally sell a house on an estate like this by auction unless there was a problem.

My position is that it will be the land not a structural problem with this particular individual building.

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  • 301 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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