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Original poster

Auction - can this work? How?

420 replies

LoonyIdea · 03/07/2022 17:45

Here’s the bare bones:

I’ve seen a house I love, and it’s up for auction on July 21st with an auction house.

It’s a G2 listed house with some land.

It was previously on with A normal agent and an offer was accepted at £500k but it didn’t complete as the buyer’s solicitor wasn’t happy with a building certificate related to the underpinning. The old agent revealed that they believe the reserve to be £500k.

It is owned by MAG (Manchester Airport Group) who bought it as a compulsory purchase as a part of the A development, which never happened. They sold a lot of their portfolio but kept some with land, and this has been rented since.

My position:

I bought my husband out of my house as a part of our divorce and I now have a mortgage of £195k. My house is very saleable, on a popular estate and worth about £700 on a good day, £670 on a bad one. (Based on 3 local agents)

It was recently valued at £631 for the purposes of the remortgage as that was the figure I’d agreed with my husband some time ago.

I can put my hand on about £20k cash and everything else is in pension and in this house.

I earn £40k, PAYE.

And I really want to buy this house! How can I make it happen?

I had thought I might ask the seller to accept an offer prior to auction but if it’s ordinary auction terms then that doesn’t help me - I need more time, as it’s a cash flow issue.

I’m willing to pay a bit more for it and would go to £520 which I don’t think they’ll get at auction. The guide price is £475.

The house is uniquely unattractive to other buyers - it’s hard up against the motorway the plot is a Scheduled Ancient Monument, and the majority of the land at the back has no vehicular access at all. You can get a mower or a horse in and that’s it. And the house is a (properly underpinned) wreck. I however, love it and it would suit me perfectly.

im talking to some “we buy any house” sites and they’re talking about 75-90% of market value and could complete within a few weeks.

How should I proceed? Is this even possible?

OP posts:
CassieLane · 27/07/2022 19:44

Oh no! Not yours, but I’m a big believer in fate. If it was meant to happen….

How are you feeling about it @LoonyIdea?

I wonder who the new owner is?

TeacupDrama · 27/07/2022 19:50

yes it would have been 560,000 plus commission plus VAT on commission plus legal fees I doubt there will be much change from 600K before they get keys
nothing worse than losing auction by a few pounds if it sold for 521K you would always have thought just one more bid might have got it but at 560K it was way over

Original poster
LoonyIdea · 27/07/2022 20:50

There was no VAT on it as it’s a domestic property but there would have been stamp duty plus fees and VAT on the fee.

All the same I’m in the doldrums and need something else to obsess over. A challenge!

OP posts:
Thatsenoughnow · 27/07/2022 20:57

With all the people who have been sending you links and getting it wrong, has anyone sent you any properties that come close to the grange for you?

Gastonia · 27/07/2022 21:03

I'm so sorry you didn't get it. I'm not surprised you feel a bit down. (It's no doubt clinging on to false hope, but perhaps the people who bought it overbid, and in the cold light of day, they might not complete, or they give up further down the line.)

Re something to obsess over, if you're interested in history, have you thought about doing your family history. That can involve lots of visits to old buildings, depending on your ancestors, and there's now plenty you can do online as well.

As your house is on the market, maybe you may find another potential project, a bit cheaper, but engrossing. (You could start another thread, and maybe someone will find your dream home, but not at auction.)

LemonSunchines · 27/07/2022 21:26

Bugger it, bad luck OP. There will be another property out there for you somewhere. This happened for a reason...

Can you tell us about the dovecote? I don't see it in any of the pictures.

sleepyhoglet · 27/07/2022 21:28

If you buy this one as well you will have second hole stamp duty

StartupRepair · 27/07/2022 21:54

Oh OP it is gorgeous and I am sorry you didn't get it. My advice - move somewhere bland and boring to get away from your current house and start a fierce saving regime for when you do find the right place.

Alphabet1spaghetti2 · 27/07/2022 22:12

Perhaps continue looking at auctions and contact the estate agents that lean towards this type of property? Obsess about finding your next property from tomorrow. Would gentleman caller have room if needed…..

Athenajm80 · 27/07/2022 23:24

Oh, I'm gutted for you. It really is gorgeous. Sorry, that probably doesn't help.

You will find something else that is even better I hope. You now have a whole subset of Mumsnet ready to be your personal "Kirsty and Phil" in order to find your little piece of history. With a moat of course.

MarneyM · 28/07/2022 06:40

You might be interested in following this group?

www.facebook.com/uniquemischief/

Though, have a scroll through, beyond the first property which is currently a public toilet block for auction 😂 - a far cry from your grade two listed, historic house with a moat!

chilliesandspices · 28/07/2022 07:15

I'm gutted for you too. What areas would you live in? You've got a whole team of auction and Rightmove hunters here now.

This one in Heybridge near Maldon is 14th century, 550k but no substantial work to be done www.rightmove.co.uk/properties/72179395

Original poster
LoonyIdea · 28/07/2022 10:03

chilliesandspices · 28/07/2022 07:15

I'm gutted for you too. What areas would you live in? You've got a whole team of auction and Rightmove hunters here now.

This one in Heybridge near Maldon is 14th century, 550k but no substantial work to be done www.rightmove.co.uk/properties/72179395

That is PERFECT! Apart from the location! I need to be school-runable for Sawbridgeworth and Heybridge is a good hour each way on a good day. But my god it’s gorgeous.

OP posts:
Original poster
LoonyIdea · 28/07/2022 10:03

MarneyM · 28/07/2022 06:40

You might be interested in following this group?

www.facebook.com/uniquemischief/

Though, have a scroll through, beyond the first property which is currently a public toilet block for auction 😂 - a far cry from your grade two listed, historic house with a moat!

Brilliant, will have a good look!

OP posts:
Original poster
LoonyIdea · 28/07/2022 10:05

Gastonia · 27/07/2022 21:03

I'm so sorry you didn't get it. I'm not surprised you feel a bit down. (It's no doubt clinging on to false hope, but perhaps the people who bought it overbid, and in the cold light of day, they might not complete, or they give up further down the line.)

Re something to obsess over, if you're interested in history, have you thought about doing your family history. That can involve lots of visits to old buildings, depending on your ancestors, and there's now plenty you can do online as well.

As your house is on the market, maybe you may find another potential project, a bit cheaper, but engrossing. (You could start another thread, and maybe someone will find your dream home, but not at auction.)

Ah you are a kindred heart! Yes I’m a big genealogy fan already!

OP posts:
SheilaWilde · 28/07/2022 11:15

I love a house search!

How about this? Semi det but looks like there's quite a bit of land and potential.

www.rightmove.co.uk/properties/124176008

ChuckBerrysBoots · 28/07/2022 11:28

Too modern maybe, and not a lot of land, but lots of character (except for the fact all the bathrooms are en-suite which is a bit odd)

https://www.rightmove.co.uk/properties/123467333

Original poster
LoonyIdea · 28/07/2022 11:48

LemonSunchines · 27/07/2022 21:26

Bugger it, bad luck OP. There will be another property out there for you somewhere. This happened for a reason...

Can you tell us about the dovecote? I don't see it in any of the pictures.

It was a wooden one, bigger than you’d see normally, on a pole but it had blown over.

It wasn’t a proper monastic dovecote. My friend has a 12th century one in her garden. I adore it. She keeps the mower in it.

OP posts:
Original poster
LoonyIdea · 28/07/2022 11:52

SheilaWilde · 28/07/2022 11:15

I love a house search!

How about this? Semi det but looks like there's quite a bit of land and potential.

www.rightmove.co.uk/properties/124176008

I’ve sent the details to my friend who lives in that village so she can go for a nose! I think it has potential. Not liking the National Trust Ransom Strip thing for access though. I think it’s under the flight path, which despite its proximity, the Grange wasn’t. Worth a look though.

OP posts:
Volterra · 28/07/2022 12:33

I’m so sorry you didn’t get it. House buying is a horrible business but hopefully it comes good in the end. We were going to buy a bungalow behind my friend’s field, extend it and make it as eco friendly as possible plus buy some of her field. Unfortunately we lost our buyer and she got another.

We’re now going to be living in a Victorian semi which is so different to where we are now but I think we can give it a new lease of life and it will work really well for the DC when they boomerang back as currently 2 flats so a kitchen upstairs and everyone can have their privacy. I’ve found it on the 1911 census and found out a bit about the family who bought It from new and lived there for about 45 years and am feeling really quite excited about it, despite it being very different to where I thought I would be.

Really hope the house you are meant to be in turns up very soon .

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