Online property auctions today

carolt

poppy10 wrote: »

Lot67 just went for less than half the 2005 sale price

Oh you'd better not post that on here - 50% + off - "it will never happen".

Thrugelmir

silvercar wrote: »

lot 81 with the 28 year lease went for 106k, AST producing 6.6k = yield over 6%.

Lot 75 a flat in Bishops storford, sold for 200k in 2006 failed to reach reserve, unsold at 113k. A repo, so lenders must be choosing to hold rather than sell at any price.

Lot 81 - Remember that you would need to write off nearly 4k a year for the value of the lease. So not such a good yield unless rental could be increased.

Plenty of auctions now so lenders can afford to sit tight. What was the starting price at auction?

Thrugelmir

poppy10 wrote: »

Lot 77 looks full of LOLz. Bought last year for £117k, 'renovated' and put on the market with four different estate agents at £159k.

Eventually gets repo'd despite dropping the price to £145k.
Unsold at auction today, didn't meet reserve price.

Appears to be pure speculation on the part of this "property developer". Who bit more off than could chew. Unfortunately house prices aren't going to stabilise until developers like this are flushed out of the market. Which may not happen until interest rates rise in the future.

Entertainer

Lot 89, a flat in Sheerness sold for £25k producing (shorthold) rent of £5512 for 22% yield. There must be a catch.:o The lease is 80 years.

poppy10_2

Entertainer wrote: »

Lot 89, a flat in Sheerness sold for £25k producing (shorthold) rent of £5512 for 22% yield.
There must be a catch.:o

http://www.swale.gov.uk/index.cfm?articleid=5071

Glyn Pritchard, Swale Borough Council's Environmental Health Officer, said "The notice prevents the main building from being used for sleeping and domestic purposes. The notice was served under The Regulatory Reform Order 2005, as the building was unsafe for habitation"

Entertainer

poppy10 wrote: »

http://www.swale.gov.uk/index.cfm?articleid=5071

Glyn Pritchard, Swale Borough Council's Environmental Health Officer, said "The notice prevents the main building from being used for sleeping and domestic purposes. The notice was served under The Regulatory Reform Order 2005, as the building was unsafe for habitation"

Yep, I'd call that a catch.

silvercar

Here is another catch:

Lot 2: portfolio of ground rents believed to collect £2,600 per annum


The catch: The seller has not collected ground rents or rent charges for a number of years and can provide no covenants as to titles or warranties as to which remain collectable.

Guide price was 20-25k, I didn't see what it went for.

Is that bidding on hot air?

Thrugelmir

silvercar wrote: »

Here is another catch:

Lot 2: portfolio of ground rents believed to collect £2,600 per annum


The catch: The seller has not collected ground rents or rent charges for a number of years and can provide no covenants as to titles or warranties as to which remain collectable.

Guide price was 20-25k, I didn't see what it went for.

Is that bidding on hot air?

If there was any value in the arrears surely the seller would have attempted to collect them. If the guide price was achieved seller did well.

powerfulone

Check out this site: http://ukauctions.org.uk/auctions-calendar/

RandomDan

It's fun to watch these while pretending to work. An awful lot is going unsold!