Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

Flip

1 2

Original poster

Who do they think will buy this house?!

29 replies

BrieAndChilli · 13/10/2020 12:15

81 Greenmeadow Drive, Penhow, NP26 3AQ
www.rightmove.co.uk/property-for-sale/property-98366858.html

So basically they have squatters! Mmm, yes I’ll go for that deal!

OP posts:

SunbathingDragon · 13/10/2020 12:17

It’s probably the previous owner who lost their job, couldn’t keep up with the mortgage and needs to be evicted to get any housing.

Mydarlingsleepthief · 13/10/2020 12:18

How bizarre!

Titsinknicks · 13/10/2020 12:19

Exactly that. I wonder why the receivers haven't evicted them? Takes a few months - maybe they can't be arsed. Very sad

RatherBeRiding · 13/10/2020 12:19

I can't imagine who would take that on! If it was ridiculously cheap there are people who'd take the chance of being able to get the "tenants" evicted without too much of a financial hit but as no viewings are possible there is no way of knowing just what a wreck the place might be inside!

Wouldn't touch it with someone else's bargepole.

SonEtLumiere · 13/10/2020 12:20

This reply has been deleted

Message withdrawn at poster's request.

OverTheRainbow88 · 13/10/2020 12:20

Or a tenant who has lost their job and isn’t paying rent of owner is selling

Viviennemary · 13/10/2020 12:20

Somebody who knows the ins and outs of evicting tenants. And has strong cash back up.

Notsurewhatsgoingon · 13/10/2020 12:22

How bizarre!
Although if you have a few big mates it might not be an issue.
I don't know the area so don't know if it's cheap for round there.

TheFormerPorpentinaScamander · 13/10/2020 12:22

What could possibly go wrong with that purchase!

justanotherneighinparadise · 13/10/2020 12:24

There are plenty of criminal landlords who will evict with threats, so I suspect they’ll get the individual out either by spending money or by threatening to break an arm or two.

SophieTurnersEyebrows · 13/10/2020 12:26

I wonder if it's because the timescale to get possession is a mess because of the coronavirus moratorium which has only just expired, and the lender wants to cut their losses now and recover what they can rather than funding possession proceedings. Suspect there is a very limited market for a sale on that sort of basis though.

LivingDeadGirlUK · 13/10/2020 12:29

Pantera Properties? I guess they are cowboys from hell lol.

Soubriquet · 13/10/2020 12:31

@SunbathingDragon

It’s probably the previous owner who lost their job, couldn’t keep up with the mortgage and needs to be evicted to get any housing.

It may be but no one would take a chance since there is no picture of indoors.

I mean it could be the previous owner, or it could be someone who has refused to move and completely trashed the place

Imagine spending all that money to buy the place, then spending more to get the person evicted, to find you have to completely gut the place in order to make it liveable

LangClegsInSpace · 13/10/2020 12:32

They have sitting tenants.

It says it's being sold on behalf of the receivers so basically the LL has defaulted on the mortgage and been repossessed.

There's nothing to indicate the tenants were not paying rent to the LL, just that they are not paying rent to the receivers.

The garden looks very tidy, I'd be surprised if it was a wreck inside.

Bluntness100 · 13/10/2020 12:35

Pantera seem to deal with insolvency. So I suspect this is the owners in situ and refusing access or to move. I would imagine rhe eviction process is ongoing, and they are selling it at the same time, and the court will order eviction in due course.

If it was renters or random squatters in there they would have images of rhe inside.

Whatever it is it’s very sad for those involved, because no one does this unless they need to.

peachescariad · 13/10/2020 12:36

I bet that photo isn't a recent one...why doesn't the owner get the gas & electric shut off? That would get rid of the tenant.

Bluntness100 · 13/10/2020 12:37

It says it's being sold on behalf of the receivers so basically the LL has defaulted on the mortgage and been repossessed

The owners could have defaulted. Due to no images, I think it is likely this is the owners in there. It’s unlikely the land lord defaulted and the tenants also decided to become squatters.

Bluntness100 · 13/10/2020 12:37

@peachescariad

I bet that photo isn't a recent one...why doesn't the owner get the gas & electric shut off? That would get rid of the tenant.

It is likely to be the owner in there.

LangClegsInSpace · 13/10/2020 12:38

@peachescariad

I bet that photo isn't a recent one...why doesn't the owner get the gas & electric shut off? That would get rid of the tenant.

Because it's illegal.

Bluntness100 · 13/10/2020 12:44

Looks like it was bought in 2013 for 170 k. It doesn’t appear to have been rented out, it’s worth about 450. So it’s on for about half price.

Which indicates to me a mortgage company trying to get its money back.

LangClegsInSpace · 13/10/2020 12:46

@Bluntness100

It says it's being sold on behalf of the receivers so basically the LL has defaulted on the mortgage and been repossessed

The owners could have defaulted. Due to no images, I think it is likely this is the owners in there. It’s unlikely the land lord defaulted and the tenants also decided to become squatters.

It won't be the owner. The owner is not a tenant.

If it's a BTL mortgage the tenancy is binding on the lender in the event of repossession - i.e. the tenants are still tenants, not squatters, and the receiver is now their LL.

I don't know what the lack of images has to do with anything.

LadyWithTheNeonSparklers · 13/10/2020 12:47

There's nothing to indicate the tenants were not paying rent to the LL, just that they are not paying rent to the receivers.

We had friend in that position years agao- they'd paid rent to landlord and then suddenly had demands to pay again to someone else and found property was for sale.

No one was telling them anything then suddenly they were being told to leave and had to deal with debt colletors turning up and everyone was off with them.

I think in end they took attitue of everyone could fuck off and wait till they moved out which they did soon as they could.

MagicalThinking · 13/10/2020 12:52

I don't get how this sale would actually get through if the owner/receiver doesn't have access to the property. How will they answer all the questions that you have to do for the legal stuff?

BlueJava · 13/10/2020 13:00

I looked it up, it seems it was last sold in 2003 for 170k.

It's currently very hard to evict tenants and the courts have only just opened up (23 Sept '20) for hearings and I'm sure there will be a backlog. I did wonder (without any real knowledge) whether it's easier to evict squatters that you have never had a contract with versus tenants who have defaulted on their rent. May be far fetched but I wondered if it was being advertised on the open market but will be bought by someone who is working with the owner and will find it easier to evict the squatters (as opposed to the owner who will have difficulties with a tenant). I wouldn't ever consider it anyway!

JustCallMeGriffin · 13/10/2020 13:01

Someone will buy it and I'll be surprised if it's up for sale for long. On the Wales/England border and close enough to commute to either Bristol or Cardiff which are two of the largest employment centres in the area.

It's clearly a repossession sale and that will attract hard nose wealthy folk with the cash to ride out an eviction, especially because it's at least half the going rate for property in the area.

Sadly I think we'll see a lot more sales like this cropping up in the near future.

Flip

1 2

Swipe left for the next trending thread