i remember when this was 80k ?

bluebeary

about a year and half ago, please can someone property bee this for me please ?

its very tempting

http://www.rightmove.co.uk/property-for-sale/property-23453566.html?backListLink=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DOUTCODE%255E973%26insId%3D1%26sortByPriceDescending%3Dfalse

madmish00

11 June 2011

• Price changed: Fixed Price £65,000 Offers in Excess of £45,000

03 June 2011

• Brief Description changed: Three bedroomed Upper Cottage Flat offering spacious accommodation comprising Hall, Lounge, Kitchen, Three Bedrooms and Bathroom. Gas CH, DG, Gardens, Extras. Ideal purchase for the cash investor.

15 January 2011

• Brief Description changed: *** HOME REPORT AVAILABLE *** Three bedroomed Upper Cottage Flat offering spacious accommodation comprising Hall, Lounge, Ktrchen, Kitchen, Three Bedrooms and Bathroom. Gas CH, DG, Gardens, Extras. Ideal purchase for the cash investor.

11 January 2011

• Price changed: from 'Fixed Price £70,000' to 'Fixed Price £65,000'

21 October 2010

• Brief Description changed: *** HOME REPORT AVAILABLE *** Three bedroomed Upper Cottage Flat offering spacious accommodation, accommodation comprising Hall, Lounge, Ktrchen, Three Bedrooms and Bathroom. Gas CH, DG, Gardens, Extras. Ideal purchase for the buy to let cash investor.

21 August 2010

• Price changed: Fixed Price £70,000 (Fixed Price)

31 March 2010

• Price changed: £80,000 £70,000 (Fixed Price)

21 November 2009

• Initial entry found.

bluebeary

thanks madmish x

poppysarah

cash buy indicates you can't get a mortgage on it.
Is it non standard construction or about to slide down the steps?

Ask the estate agent.

madmish00

No problem!

Seems to me that they have suddenly become very desperate to offload it though. Either that or 'offers in excess of £45k' means they still want 65k but want to get people through the door.

I had one like this who had dropped their price from £215k originally down to OIEO £169,950 but were unwilling to consider offers under £185k

bluebeary

poppysarah wrote: »

cash buy indicates you can't get a mortgage on it.
Is it non standard construction or about to slide down the steps?

Ask the estate agent.

aha, good point, alot of them are and alot of them are pinned at the back of the properties too

poppysarah

bluebeary wrote: »

aha, good point, alot of them are and alot of them are pinned at the back of the properties too

Oh that might be it then.

seafarers_wife

that reminds me of what i used to call the giraffe houses when i was younger (no idea why) but when we used to go into clydebank via the big roundabout (no idea what its called, but think its kilbowie) there were alot of houses thta had cracks all over the outside that had been filled in leaving it clear that they had structuarl problems.

i dont think id touch with a barge pole unless the current owners were willing to pay for full structual survey.

GDB2222

This flat has two major drawbacks:
1. It must be non-standard construction by the look of it, so not mortgageable
2. You will have the local authority as freeholder/landlord and responsible for maintenance of the building

They will spend an absolute fortune on maintenance and charge you for it. You could easily get a bill for £5-10k every few years. The non-standard construction means that the exterior paint and render has to be kept 100% watertight to avoid concrete rot, so to some extent the council's bills will be justified. You can see from the photos that the place has just had a lot of work done, and I expect that the vendors are reeling from the shock of the bill and want to get shot of the property before they get another one.

It probably works as a BTL investment, let at a rent of £450-500 pcm. That's a £5-6k gross rent each year, so the buyer can afford to pay the enormous service charges when they come in and still get some return on his money.

bristol_pilot

The true value of this property - for the reasons others have stated - could be less than zero.

carefullycautious

read down the advert it says non standard construction for cash buyers only