Reasons for a house on the market to be suspiciously cheap(ish)

[Pookythebear]

Just that really. We are not really in the market to move right now, but always keep our eyes open for anything that might pop up in a few areas that we like, as its always an option for the future. How I missed it before I don’t know, but my dream property (rural, detached, period) loomed up on rightmove yesterday.

But for this area (SE England) it’s about £100k less than Id expect it to be. It is rural and is about 10miles from nearest train station - but that doesn’t tend to put estate agents off asking the most they can. I spoke to the estate agent this morning who describes it as well presented. It’s been on the market for a year with lots of viewings and only one offer which fell through. My suspicions are aroused and I guess until we view it ourselves we won’t know but does anyone know the usual reasons...?

TIA

And check what's in that massive trunk...

It is squashed between a road and a field - the field goes right up to the house (fields are nicer further away - I knew someone who lived next to a potato field - eyeopening (if it wasn't full of spray)). It is a lot of money for a house you cannot walk around. Most of the garden is carpark, which suggests the road is not nice, and the rest is taken up by the 'annexe'.

Timber framed can sometimes make it harder to get a mortgage. And also this detached annexe might put people off. Why would they want one of those unless they were specifically looking for that. Otherwise it's a nice house with character. Other reasons already mentioned, motorway planned new housing scheme, flooding and all the rest. Heating? I doubt it has gas.

Timber framed can sometimes make it harder to get a mortgage. And also this detached annexe might put people off. Why would they want one of those unless they were specifically looking for that. Otherwise it's a nice house with character. Other reasons already mentioned, motorway planned new housing scheme, flooding and all the rest. Heating? I doubt it has gas.

Sorry for double post.

Looking at what's sold nearby I think it's priced correctly for location and condition,,,

Could be the vendor is a complete pain in the arse and is putting people off, happened with the house I just bought, we ended up getting it for about 20% below market value as she had sabotaged 3 sales with her crazy carrying on!

I don't think it is very cheap really.

It is actually really really small for the number of rooms.
Bad layout.
Dated.
Detached annex - no value unless you specifically want one for a home office or elderly parent.
Not much of a garden.
Busy road.
Difficult to commute to jobs.

It is neither a nice rural idyllic house, nor it is a prime commuting house.

And one of those bedrooms opens like mid way down the stairs! Death trap.

On 29 Jun 2012, it was sold for £357,500
Is this link the details from 2012??? www.morrisarmitage.co.uk/documents/property_details_5302.pdf
If so, it was on for £395k then, but went for "only" £357k.

The EPC for the property shows it as a F = Flipping Freezing!!
It would need massive amounts of insulation to help to retain the heat which may be doable if property is not listed and Planning dictates.

The fact it dates back to the 1600's it will probably be of solid walls construction so all the heat just dissipates through the walls.

It looks a lovely house but it could be a money pit with running costs trying to keep it warm.

Best to go see on a cold rainy day as see what it's like when you are in cold, damp, smells musty etc. Access to loft to look at the state of the roof.

I've seen bigger council houses. The rooms look very small and I would be worried about dry rot in all that timber. Maybe do a survey?
There is something not quite right about it.

EPC rating is too high for rentals with the recent changes in legislation, wondering it was rented before, tenancy lapsed, LL needs money?

The layout of the upstairs isn’t perfect, the 4th bedroom/dressing room is in an odd place, only one bathroom etc.

Go and see it!!!

Seems to be surrounded by rivers/streams. Cambridgeshire does flood so possibly a flood risk?

The second link says there is a garden plot "opposite" the house - so presumably you have to cross the road to get to it. Which is OK if you are keeping chickens or growing veg but not ideal if you are wanting to tip the kids out of the house into the road garden.

It’s beautiful to look at but I’ll bet it’s a nightmare to live in. Look at the layout of kitchen/downstairs shower room on the floor plan.

Plus freezing.

The “annexe” just looks like a fancy portacabin. I wonder if it has the required permissions, foundations, drainage etc. At least the annexe is part of property not where the previous owner is planning to move to!
Does property have mains gas and water and is it connected to sewer or does it have bore hole water and a septic tank (should be 50 m separation from the two of that is the case).
Do the council know there is an annexe there and will the council tax payable increase when they find out?

Why the 30% increase in price since 2012 - is that what the local market is doing?

It doesn't mention any agricultural ties....

Sorry 22% increase not 30%.

But is the garden plot opposite the road included in the sale?

Garden plot is included in the sale.

That house has been on here before and it was due to the road I am sure. May be it was when it was last on in 2012 - means I’ve clearly been here too long!

From the floorplan the stairs seem really steep, plus all the other issues already mentioned.

Oil heating wouldn't put people off who are wanting to live in that area - very few smaller villages in that area have gas. We live in South Cambridgeshire and have never lived anywhere with gas except when we lived in Cambridge itself. Plus oil is cheaper than gas at the moment.

The house is actually very small and I suspect a bit of a money pit. Go and have a look but be realistic about whether it really suits your needs. We once were very tempted by a tiny old cottage with a huge and very beautiful garden. Luckily we came to our senses and realised the house was completely impractical for a family of 4.

Intrigued! Please come back with an update OP 😀