To wonder what is wrong with this property?

[hibbleddible]

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?

I think economically you'd be better off pulling it down and building something that's not derelict

My thoughts exactly mrsdv

Anyone who is familiar with the market in north London knows that nothing can be bought for £120k.

It's surprising seeing something at this price, let alone it being freehold and not ex-local authority.

Wouldn't touch it with a barge pole. For £150 000, you can get a 2 bed terrace, 2 receptions and a garden in a very rentable area of Luton. Hoping you're looking to buy an investment property as opposed to living in such a shit hole

We are looking to invest yes. I'm not sure it is such a shit hole, we have no idea what it is like inside. Most properties sold at auction are 'in need of modernisation' to be fair.

I wouldn't go as far as Luton, though I didn't realise it was so cheap there.

Everything everyone else has said.

It's tiny and shit.
It's damp.
It's got sitting tenants.
T will sell for much much more than the guide n

For £150 000, you can get a 2 bed terrace, 2 receptions and a garden in a very rentable area of Luton

And you can get a lovely 2 bed terrace for £80k in Leeds.

Which isn't. Wry useful if the OP wants to buy in london is it?!?!?

Luton isn't comparable to Bruce Grove! An uber home wouldn't really be an option.