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  • Property-a-holics

    Don’t view before you buy ... trust me!

    Afternoon PT,

    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?

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    I'd think Ben Rogers was behind it.  Especially the "trust me" bit.

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    Sounds dodgy.

    But if it’s an absolute bargain I would be tempted to have a look from the outside.

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    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.

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    All of the above. Then imagine the worst possible scenario, then take 20% off. Then offer 15% less than that?

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    If they don’t even allow a survey then it’s unmortgageable so take another 20% off.

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    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

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    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!

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    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.

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    Why take the risk?

    Ed

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    LETS MAKE HOMES by treating landlords as partners, tenants as customers & every property as our own."

    http://www.letsmakehomes.co.uk