Real Estate nightmares (Vol 2)

Real Estate nightmares (Vol 2)

Author
Discussion

Tango13

8,965 posts

184 months

Tuesday 9th July
quotequote all
DodgyGeezer said:
riskyj said:
"...GREAT POTENTIAL FOR CAPITAL GROWTH..." given that the ceiling price for the area seems to be 280k there doesn't seem to be a lot of wriggle room to make a lot of ££
How does insurance work when you're trying to insure a house that has been repaired after being badly damaged by fire and water? There must be concerns about unseen damage etc?

Surely that's just a building plot that needs to be taken back to ground zero before starting from scratch?

ambuletz

11,013 posts

189 months

Tuesday 9th July
quotequote all
Tango13 said:
DodgyGeezer said:
riskyj said:
"...GREAT POTENTIAL FOR CAPITAL GROWTH..." given that the ceiling price for the area seems to be 280k there doesn't seem to be a lot of wriggle room to make a lot of ££
How does insurance work when you're trying to insure a house that has been repaired after being badly damaged by fire and water? There must be concerns about unseen damage etc?

Surely that's just a building plot that needs to be taken back to ground zero before starting from scratch?
Why do i have a feeling that someone would probably buy it, level it, then try and squeeze in 2 one-bedroom 'first time buyer' homes onto the plot. Like what was posted on here previously.

NomduJour

19,627 posts

267 months

Bonefish Blues

29,577 posts

231 months

Tuesday 9th July
quotequote all
Have they still not sorted that bathroom?

Pit Pony

9,281 posts

129 months

Tuesday 9th July
quotequote all
NomduJour said:
In 1988, I bought a 145/? X 10 inch remould tyre for a mini 850 from a place down that road. £14 or there abouts. I remember because it was the price of 2 pints more than my weekly rent.

RSTurboPaul

11,288 posts

266 months

Tuesday 9th July
quotequote all
Bonefish Blues said:
Have they still not sorted that bathroom?
I don't even know how you'd deal with a toilet full up with excrement.



Get professional cleaners in, I guess hehe lol

AlexGSi2000

415 posts

202 months

Wednesday 10th July
quotequote all
ambuletz said:
Why do i have a feeling that someone would probably buy it, level it, then try and squeeze in 2 one-bedroom 'first time buyer' homes onto the plot. Like what was posted on here previously.
There is a property in similar circumstances near me. Constructed in 2017, caught fire around a year ago.
House was part of a development that was seen as being quite affluent - however it was one of the smaller homes - I always remember them being very overpriced.

Its been unsold for quite a while, due to the plot of land being quite small. House was completely destroyed with only the carcass remaining, so would need to be rebuilt (semi-detached).

They are wanting top dollar, when I think the land at best is probably worth around £50k.

Fire happened not long after it sold the last time - to be fair, I think I would have set fire to it as well after paying that much.






Edited by AlexGSi2000 on Wednesday 10th July 09:55


Edited by AlexGSi2000 on Wednesday 10th July 09:56

GIYess

1,363 posts

109 months

Wednesday 10th July
quotequote all
AlexGSi2000 said:
There is a property in similar circumstances near me. Constructed in 2017, caught fire around a year ago.
House was part of a development that was seen as being quite affluent - however it was one of the smaller homes - I always remember them being very overpriced.

Its been unsold for quite a while, due to the plot of land being quite small. House was completely destroyed with only the carcass remaining, so would need to be rebuilt (semi-detached).

They are wanting top dollar, when I think the land at best is probably worth around £50k.

Fire happened not long after it sold the last time - to be fair, I think I would have set fire to it as well after paying that much.






Edited by AlexGSi2000 on Wednesday 10th July 09:55


Edited by AlexGSi2000 on Wednesday 10th July 09:56
yikes over 300 grand for a burnt out shell on a postage stamp!? Wonder why they had no insurance.

SmoothCriminal

5,314 posts

207 months

Wednesday 10th July
quotequote all
Not so much a nightmare but an absolute piss take.

Bought last year for £875k
Up for offers in excess of £1 mill.
Take away most of the garden to build another dwelling.

https://www.rightmove.co.uk/properties/146279003?u...

RC1807

13,026 posts

176 months

Wednesday 10th July
quotequote all
SmoothCriminal said:
Not so much a nightmare but an absolute piss take.

Bought last year for £875k
Up for offers in excess of £1 mill.
Take away most of the garden to build another dwelling.

https://www.rightmove.co.uk/properties/146279003?u...
Indeed.
Need updating.
Carpet in bathrooms - yuck!

Garden's been cut in half and a building plot created for the current owners?
The value's been reduced in reality, not increased!

PositronicRay

27,561 posts

191 months

Wednesday 10th July
quotequote all
RSTurboPaul said:
Bonefish Blues said:
Have they still not sorted that bathroom?
I don't even know how you'd deal with a toilet full up with excrement.



Get professional cleaners in, I guess hehe lol
Let it solidify 1st.

DodgyGeezer

42,449 posts

198 months

Wednesday 10th July
quotequote all
SmoothCriminal said:
Not so much a nightmare but an absolute piss take.

Bought last year for £875k
Up for offers in excess of £1 mill.
Take away most of the garden to build another dwelling.

https://www.rightmove.co.uk/properties/146279003?u...
Comedy garage too

.:ian:.

2,360 posts

211 months

Wednesday 10th July
quotequote all
NomduJour said:
Honda Prelude out the front, not seen one of those for a while laugh

Du1point8

21,682 posts

200 months

Wednesday 10th July
quotequote all
PositronicRay said:
Kowalski655 said:
This one might need a bit of a clean.
https://www.rightmove.co.uk/properties/148679903#/...
Don't look at pic #5 on a full stomach
Trying not to dwell on pic 5, that's an interesting collection of clutter.
To be honest if the sold prices are anything to go via, if you got that for anywhere near £80,000 you would be on to a good flip

ferret50

1,629 posts

17 months

Wednesday 10th July
quotequote all
Du1point8 said:
PositronicRay said:
Kowalski655 said:
This one might need a bit of a clean.
https://www.rightmove.co.uk/properties/148679903#/...
Don't look at pic #5 on a full stomach
Trying not to dwell on pic 5, that's an interesting collection of clutter.
To be honest if the sold prices are anything to go via, if you got that for anywhere near £80,000 you would be on to a good flip
Full skip for each room at £250 a skip, there might even be a turd worth pickling for posterity!

CanAm

10,135 posts

280 months

Wednesday 10th July
quotequote all
SmoothCriminal said:
Not so much a nightmare but an absolute piss take.

Bought last year for £875k
Up for offers in excess of £1 mill.
Take away most of the garden to build another dwelling.

https://www.rightmove.co.uk/properties/146279003?u...
And it was previously even higher than that. Reduced in May!!

Puzzles

2,482 posts

119 months

Wednesday 10th July
quotequote all
SmoothCriminal said:
Not so much a nightmare but an absolute piss take.

Bought last year for £875k
Up for offers in excess of £1 mill.
Take away most of the garden to build another dwelling.

https://www.rightmove.co.uk/properties/146279003?u...
Jokers, much better out there for around that amount.

Sy1441

1,209 posts

168 months

Wednesday 10th July
quotequote all
Tango13 said:
How does insurance work when you're trying to insure a house that has been repaired after being badly damaged by fire and water? There must be concerns about unseen damage etc?

Surely that's just a building plot that needs to be taken back to ground zero before starting from scratch?
I nearly bought that house about 10 years ago, albeit it had a roof etc at the time!

Indecision

516 posts

88 months

Thursday 11th July
quotequote all
I feel like this has been on here already, but maybe I’m confusing it with another one similar. Wonder how often you’ll get blocked in by your neighbours?

https://www.rightmove.co.uk/properties/86939541

dxg

8,823 posts

268 months

Thursday 11th July
quotequote all
GIYess said:
AlexGSi2000 said:
There is a property in similar circumstances near me. Constructed in 2017, caught fire around a year ago.
House was part of a development that was seen as being quite affluent - however it was one of the smaller homes - I always remember them being very overpriced.

Its been unsold for quite a while, due to the plot of land being quite small. House was completely destroyed with only the carcass remaining, so would need to be rebuilt (semi-detached).

They are wanting top dollar, when I think the land at best is probably worth around £50k.

Fire happened not long after it sold the last time - to be fair, I think I would have set fire to it as well after paying that much.






Edited by AlexGSi2000 on Wednesday 10th July 09:55


Edited by AlexGSi2000 on Wednesday 10th July 09:56
yikes over 300 grand for a burnt out shell on a postage stamp!? Wonder why they had no insurance.
If the houses either side went halves on it, they could both have nice gardens and expansion potential...