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Informal tender how much do they really expect?
fedupbankstaff
Posts: 11 Forumite
Hi, I am looking at possibly buying a property that is for sale by informal tender. The guide price says £160k but this seems way too overpriced. The property is a semi detached on the edge of a village where 'normal' 3 bed semis are approx £140k. the property has no CH, no DG and a timber garage which clearly needs demolishing and a new one built and also needs modernising throughout. It is in a nice location and quite a large plot, do you think they expect a developer to buy and try for planning to build more houses, is this why the price is so high? Haven't actually viewed the property yet as the guide price is putting me off slightly. Any advice appreciated.
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