House was bought on auction for £188k two months ago...

[Rainbowhairdontcare]

Posting here for traffic! Found a great house purplebricksauctions.gotogroup.co.uk/lot/details/10822

Bought for 188k 2 months ago, now listed for £235k. Considering anything above 192k is a profit (considering conveyancing and stamp duty).

Would £210k be a sensible offer? They haven't spent a penny on it.

They would have piad upto 10% commission as well don't forget, so another 18k.
It doesn't really matter how much profit they stand to make, it only matters what someone is willing to pay. Go in low by all means, but don't be surprised if they move on to any other offers. I think the days if the opening offer being the start of negotiations are long gone. Sellers will usually accept the highest, most proceedable offer.

It's been on the market for two months now. House do sell quickly if realistically priced, which makes me think that there would be either further issues or it's not as cheap as it seems.

That is a nice house! Total bargain for £235k, but then I’m in London!
I’d just offer the maximum you are willing to pay and see what they say. You could start at £210k if you wanted to though - they can always say no if it’s too low.

I read the report and it's in a Radon prone area and a landfill is only 500m away. It's also a mining area, which could be another reason for being so cheap.

I know the road where that house is. And I’d love to have a house along there. Providing the surveys and things were as good as they can be for Cornwall especially a mining town like Redruth.

Not sure what the going rate for a house like that would be

@TheRLodger really? That's good to hear. We'd be moving from Falmouth but there's no way we can afford something like that for that type of £££

I don’t know the houses per se but do drive along there. And I think that they look good old fashioned granite sturdy houses. Similar to the ones at the top of Wendron st in Helston. Oh yes for something in Falmouth you’d be paying a lot more money (3x more)

I know the type you mean. We almost bought one of the Wendron ones 5 years ago for 180k. I love the layout and distribution of those houses.

Beautiful house. I'd bite their hand off for that price, but then I'm in Surrey...

I knew someone who lived in one of those growing up and it was such a good house to have a play date in

Can you make it possible for people to go direct to the page without having to C&P?

How do you know how much it sold for as it didn't go to auction - 'sold prior'?

Most of Cornwall has radon and mines...

purplebricksauctions.gotogroup.co.uk/lot/details/10822

^^clicky link.

Thank you for the clicky link @Advisemeplease1
@Blueberrycreampie land registry
@scaryteacher that it's true, but mortgage companies still have restrictions about them. Radon, mining, and mundic.

I've had a house in Cornwall since 92. No issues about radon or mundic when we bought it, but had to have a mining survey. Remortgaged in 2006 and had to have a mundic survey, but not on the 1837 main part of the house, but on the 1960s extension at the back, and then only on one bit. No issues.

Perhaps when we come to sell radon will be mentioned!

Christ it’s so cheap and lovely, sound the estate agent out. What your maximum budget, work that out then pick a sensible offer below that.

My first house in Cornwall had to have a mundic test, but no radon. I think the latter is only done if the area is known to have radon.

That is a lovely house!

Nice house.

Do you need a mortgage as it can be an issue if the vendors have not owned the house for six months?

If the house was bought at auction 2 months ago, why are they now selling?

House prices have fallen in recent months and sellers are having to wait even longer to sell. The average time to sell has now hit 62 days – the longest for the summer since 2013.

It's under offer, I was too slow! There are similar properties in the market for £250. I do need a mortgage and there are no houses coming up within our budget and our needs.

Looks like just about all of Cornwall is in a radon affected area according to the map here.

Of course, this doesn't mean that any house you look at will have a radon problem, as a RAA is defined as any area with 1% or more of houses being above the action level, but most areas of Cornwall, a lot more than 1% of houses have been found to have high radon levels.

But it could also be the case that remediation has already taken place - obviously a seller should have documentation to prove this.

We're 10-30% as per the map, and have no idea what the radon level is in the house. It is very well ventilated though, and the house has a cellar, with a big airbrick, as it used to be the coal cellar.

I'll worry about it when we come to sell. none of the tenants have reported any problems whilst we've been abroad, not did they ask any questions.