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Can you believe the gall of this?

(19 Posts)
narmada Thu 02-Jun-11 10:03:40

recently have been keeping a close eye on our local property market and have found a number of hopefully priced stinkers. But this one particularly stands out: doer upper

Check out the 'fantastic garden'.

What really makes this special in all the wrong ways is that it was bought at an Allsop auction 2 weeks ago for £430,000. Having done (seemingly) nothing to it it is now being marketed with a regular agent for a cool £130,000 more. Greedy, chancy buggers.

Gonzo33 Thu 02-Jun-11 11:46:56

Cheeky so and so's. Got to say it is minging too. You would have to do a lot of cosmetic work to get that up together.

LynetteScavo Thu 02-Jun-11 11:52:52

A house is only as much as someone is prepared to pay for it.

Greedy, chancy buggers, or some one who managed to get a bargain at auction?

lalalonglegs Thu 02-Jun-11 12:39:57

I don't understand the problem - you usually pay less at an auction often because there is some problem that scares away lenders. If they just got a bargain or had to sort out a right of way or some freehold issue that took a bit of capital to rectify, what's the fuss about? Can't comment on whether it's worth what they're asking but nothing wrong in principle - I've done the same.

titchy Thu 02-Jun-11 12:43:10

It's on with Foxtons. That'll add at least £50k to the asking price.

narmada Thu 02-Jun-11 14:14:06

Yes, yes yes, I know..... it's all a transaction, it's all business, etc etc smile. If it had been on with any other agent other than foxtons I probably wouldn't have batted an eyelid but you just know with them it's going to be massively overpriced and it's the agent that greedy buggers always pick. I refuse to view any houses with them because of terrible past experiences and completely unrealistic sellers. It's no wonder their business was in trouble a few years ago!

lalalonglegs Thu 02-Jun-11 18:22:15

Didn't open the link (was using my very unsmart smartphone at the time) - if it's on with Foxtons then I share your horror wink.

plupervert Thu 02-Jun-11 20:31:55

Good for you, keeping tabls on history. You would be surprised how few people do that.

As for the quick turnaround, they probably don't want the Land Registry information about the last sale price (and date) to become available while the house is on the market (or.... hahaha - under offer).

narmada Thu 02-Jun-11 20:40:31

Yes plupervert that's a good point about not wanting it to be on land registry... you can always pay the £4 charge to get the deeds from the land reg before they're publicly released a few months down the line. Gives some useful info, e.g., if the mortgage is with a sub-prime lender etc, as well as price paid. Although irritatingly for the two houses we've offered on recently there was no sale price stated, don't know why hmm

We thought about attending the auction for that house but in the end didn't go as it is now pretty much out of catchment for the local decent primary school and we sure as hell can't afford to go private!

CoffeeIsMyFriend Thu 02-Jun-11 20:44:39

foxtons = £££ added on.

It needs loads of work, yes the garden is quite big for where it is, but it needs lots done to it.

narmada Thu 02-Jun-11 20:48:42

Certainly does need loads of work - rewire, re-roof (probably), extension, etc etc etc, and there is one across the road in a better position (not backing onto flats, not as near to the main road junction), extended and in perfect order on for about £110,000 more. You'd spend that much getting it up to scratch.... no margin.

It was auctioned by the Metropolitan Police. I've seen a few properties like this -does anyone have any idea why the Met would auction houses? Is it just unwanted police accommodation or is it something less salubrious??!

scurryfunge Thu 02-Jun-11 20:54:00

The Police have been selling off properties for quite a while now -they would have been officer's accommodation at some point but officers are not entitled to police houses any more and the properties are usually in reasonable areas so can fetch quite a bit.

conculainey Thu 02-Jun-11 21:00:07

I certainly would not pay any more than 130-150k for a house that size needing so much work.

londonone Thu 02-Jun-11 21:03:59

Well then you won't be living in london or its environs conculainey!!!

conculainey Thu 02-Jun-11 21:07:54

Message deleted by Mumsnet.

narmada Thu 02-Jun-11 21:36:37

I really wish we had jobs somewhere other than London having seen that conculainey. Sometimes I want to chuck it all in, move to Ireland or Devon or somewhere, buy a small house mortgage-free and get a job in tescos to pay the bills. But I am a bit too attached to my nice comfy and hopefully relatively secure civil service job.... ach, no guts, that's me.

scurryfunge makes sense, ta for that info.

mylovelymonster Thu 02-Jun-11 21:52:52

easy money, bricks'n'mortar, init

mylovelymonster Thu 02-Jun-11 21:55:44

wouldn't it be nice if a family had bought it for £430k to do up & live in. How old fashioned am I!

narmada Thu 02-Jun-11 22:08:04

It would, woudln't it. We could possibly have bought it for that reason if we'd sold my mother but would have had no money left over to do it up. Would have had to live with those carpets. Boak.

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