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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To wonder what is wrong with this property?

56 replies

hibbleddible · 22/04/2016 17:11

It's not a short lease (freehold) and it's being sold for a song in an area where house prices are shooting up.

What's the catch?

OP posts:
Original poster
hibbleddible · 22/04/2016 17:12

www.mchughandco.com/Auctions/Details.aspx?aid=987&pid=abd2131a-79b3-44b8-b03a-ac96fa84db15

Oops forgot link

OP posts:
MerrilySlidingAway · 22/04/2016 17:15

Bet it hardly has any time left on the freehold.

KingJoffreyLikesJaffaCakes · 22/04/2016 17:15

Haunted by the ghost of an unpleasant money lender named Gibson?

Twitterqueen · 22/04/2016 17:16

Leaky roof and damp at a guess.
Dark stain in the upstairs wall suggests water is encroaching.
It's also got a flat roof, so again, leakage.
On the plus side it looks as though you might be able to expand upwards? ie put in another floor (if it was worthwhile)

It looks as if it belonged to next door - ie the house on the right, and that it was the garage. They have converted the garage and are now selling it off as a separate house.

badtime · 22/04/2016 17:16

It won't sell at anything like that price.

badtime · 22/04/2016 17:17

It won't sell at anything like that price.

CodyKing · 22/04/2016 17:17

Looks like a garage that belonged to next door

You can see the old windows;damp;rotten guttering-

One bedroom - must be tiny

I don't know the area at all!!

SaucyJack · 22/04/2016 17:17

Perhaps the tenant has a protected right to remain in the property. It appears to be marketed to landlords only.

I know shit-all about property law though.

CodyKing · 22/04/2016 17:18

Looks like a little kids toys upstairs -

Must be sharing -

JamieFraserskneewarmer · 22/04/2016 17:18

It's tenanted

Original poster
hibbleddible · 22/04/2016 17:19

Surely a freehold is forever? The tenant is on an assured shorthold tenancy. Fully expecting that it would require maintenance, but that still wouldn't explain the price.

OP posts:
smalllondon · 22/04/2016 17:19

Well that is only the guide price. It's auction so I believe you need to be a cash buyer? Not 100% on that though.

From looking at the one photo it looks like a shop that has been converted into a house and it has a flat roof, which may mean lots of damp and repair inside and perhaps on the outside structure. A house with only 1 bedroom is also pretty unusual. It doesn't look like it qualifies for parking, if that is the case it will be because of the conversion.

But if they are getting £1,300 a month for it - you imagine that it isn't that bad inside.

It would be an interesting place to view or at least see a floor plan..

Arfarfanarf · 22/04/2016 17:20

This reply has been deleted

Message withdrawn at poster's request.

JoyofSpring · 22/04/2016 17:21

If it's an auction they could just put it on at a low price to attract interest and then hope it will sell for much more.
Either that or it could be that the owners need out quickly so have priced accordingly!

Lweji · 22/04/2016 17:22

Items for auction often have a low starting price to attract buyers.
It is likely to have a higher reserve price and to go for more too.

thecatfromjapan · 22/04/2016 17:24

It looks like a (badly) converted garage. If you're thinking of buying, don't forget to check plumbing/drains and wiring.

Uptownfuckuup · 22/04/2016 17:26

am i the only one who can see this was a shop !?

Nuggy2013 · 22/04/2016 17:32

I'm from the area since birth and can guarantee that despite the attempted gentrification its in a shithole of a road & is v close to Broadwater farm which isn't appealing to some buyers. It is right by the mainline station which is great for convenie e and poor for noise. It's also a thorough fare to a variety of hostels which some people find off putting. None of which bother me personally but dependent on what you're used to/accepting of.

Floggingmolly · 22/04/2016 17:33

It's not a real house... It's just an afterthought stuck onto next door; bet it was their garage and they've put a bedroom on top.

Sparklycat · 22/04/2016 17:36

They've probably just put it low to attract people and start a bidding war on the day.

WeAllHaveWings · 22/04/2016 17:37

Uptown, my first thought was shop too. Its got a metal shutter door along the length of the building and an awning thingy.

Looks like a flat roof too.

hownottofuckup · 22/04/2016 17:38

How horribly depressing to imagine forking out that much each month to live in that shithole.

liz70 · 22/04/2016 17:38

"Looks like a little kids toys upstairs -

Must be sharing"

Or parent is sleeping on bed settee in living room, perhaps.

Gardencentregroupie · 22/04/2016 17:38
  1. Glorified cupboard
  2. Shit hole area
  3. Sitting tenants - just because the contract is ending at some point doesn't mean they'll actually leave
  4. Guide prices are usually wildly low and despite 1 - 3 it will sell for far far more.
witsender · 22/04/2016 17:40

It looks like where hopes and dreams go to die.