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Buy to let 40% loss at auction
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baby_boomer
Posts: 3,883 Forumite
Property Week
This is a repeat story about new build buy to lets. I think the ?Telegraph? found a similar picture a couple of months ago.
Apologies if it's been posted already & I missed it. I did look back four pages to check the headlines but I may have been looking in the wrong place.
This is a repeat story about new build buy to lets. I think the ?Telegraph? found a similar picture a couple of months ago.
Apologies if it's been posted already & I missed it. I did look back four pages to check the headlines but I may have been looking in the wrong place.
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Where's DoozerGirl I want to print this out 50 times on A3 paper, roll it up and beat her around the head with it.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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budget_counsellor_shaz wrote: »Why are you being so mean and unkind
Shaz
Sorry it was meant in a light-hearted manner.
It's simply that she (I think it was her, I may be developing altziemers here...) lambasted me when I talked about 30-40% overpricing in new builds and how that 30-40% was being giving back to the buyer as kickbacks. (Cashback, rent guarantees, legal fees paid, stamp duty paid, removal fees paid, carpets, curtains etc)
The artical listed highlights it exactly... when sold a short time later the property's TRUE price becomes apparent.
The builders don't give you all those nice things for FREE they simply add them onto the cost of the house.
Also, can I swap the rolled up papers for off-plan sales brocures?Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
You must be thinking of someone else because for as long as I've been posting here (and I know it's not that long) doozer has always said that she thinks newbuilds are over-priced.dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
Appologies to DoozerGirl.
Now who do I whack with these brocures?
EDIT: oops no it was her
http://forums.moneysavingexpert.com/showthread.html?t=564484Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
There are all sorts of issues with newbuilds.
Size, management companies, fees etc etc.
Although you can get those issues with leasholds on small house conversions, each one is different. The best thing a leasehold buyer can do is to get themselves on the management company. The flat we have is managed by a freehold company where the leaseholders are directors.Behind every great man is a good womanBeside this ordinary man is a great woman£2 savings jar - now at £3.42:rotfl:0 -
Those problems should be allowed for in the sale price.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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