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Bargain of the day - cheap Dublin Semi
Comments
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That semi actually ended up being sold for €3.7m!!! (£2,568,134)
http://www.unison.ie/irish_independent/stories.php3?ca=9&si=1582711&issue_id=13819&printer=10 -
Being originally Oirish and still going back there every few months on business I have been amazed at the rubbish houses people are a) building and b) buying for ludicrous amounts of money. But here's thing (alas, I had the idea, but not the balls - but my friend has the balls and so has profited):
In Jun05, he was able to get a E250,000 mortgage (100%) at 3.1% (!) for a house that was due to be built in Dec 05 (just to the left of the middle of nowhere). Alas, the housebuilder didn't complete the house in time and he will not be able to move into the house until May 06 (of course, it's all bought and paid for, but he doesn't pay mortgage repayments til he moves in).
He told me yesterday that the house opposite his (same spec etc) has just sold for E300,000. So, he can now sell at E50,000 profit without having paid out a single Euro cent! (bar a few arrangement fees etc).
He just wants to sell at the top of the market - I said, I'm sure someone will ring a bell and let you know when that is
T0
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