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Browsing Rightmove today I found the following:
”*** IDEAL INVESTMENT OPPORTUNITY!!!*** NO ACCESS FOR VIEWINGS OR SURVEY AND NO ADDITIONAL PHOTOS AVAILABLE. TO BE SOLD UNSEEN. “
2 flats are being offered for sale. 1 tenanted and 1 vacant, now I can understand the possible difficulties at viewing the tenanted property but what’s the excuse with the other?
What would you be thinking after reading that advertisement?
Omega Property (Formerly SBS Ltd.)
I am not professionally trained to give advice, generally posting for the benefit of the community or my own personal development.
I'd think Ben Rogers was behind it. Especially the "trust me" bit.
But if it’s an absolute bargain I would be tempted to have a look from the outside.
It could be a hoarder tenant?Certainly very high risk not being able to view. Perhaps drive by, speak to the neighbours, etc. to try and ascertain what is going on here.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
All of the above. Then imagine the worst possible scenario, then take 20% off. Then offer 15% less than that?
If they don’t even allow a survey then it’s unmortgageable so take another 20% off.
Did one of these once . No access granted
LHA tenant in situ. Dogs, cats and a strong smell of weed
I networked the community and got their profile
Cash - auction
20K off . Spent 5K . 15K gain at the time.
Not for the feint hearted though
If you get your sums right and cover the worse case scenario......
whats not to love about them
Jonathan Clarke. http://www.buytoletmk.com
We bought a place at auction a few years back and the blurb stated strictly no viewings due to being tenanted. I called round and knocked - no answer so I left a note stating we wanted to buy and that if we did we would be happy for them to stay. Next day got a call, then met the tenant who was a great guy and place was near perfect.
We bought the place knowing how good it was and he is still with us. My advice is to ignore the no viewings bit and knock on the doors - what have you got to lose? Incidentally, incredibly to me no one else even thought to do the same as us!
Did you ever ascertain why there was a "no viewings" caveat?
Asked the question, no reply.
Never had an intention of a purchase and shared here to try and understand the mechanics / reasoning behind it so didn’t chase a reaspone with any vigour.
Why take the risk?
LETS MAKE HOMES by treating landlords as partners, tenants as customers & every property as our own."