The "have a look at this!" thread II

tiernsee

https://www.rightmove.co.uk/property-for-sale/property-82135583.html


I absolutely love this property. Unfortunately the sea wall where it is built is bulging and the council are saying it is the responsibility of the flats to repair, and the flats are saying it is the council or Environment Agency.... Debate goes on and depends on how risk averse the buyer is as they could get a beautiful flat at an excellent price or a very expensive sea wall repair........

LisbonLaura

tiernsee wrote: »

https://www.rightmove.co.uk/property-for-sale/property-82135583.html


I absolutely love this property. Unfortunately the sea wall where it is built is bulging and the council are saying it is the responsibility of the flats to repair, and the flats are saying it is the council or EA......

Seems harsh. An innocent EA arrives, and gets handed a shovel?

Idea:- Will it help if we all press the 'Save Property' button?

poppy10_2

NaughtiusMaximus

poppy10 wrote: »

As weird as it sounds to us, that sort of arrangement isn't uncommon in some countries, France definitely maybe others too.

They key factor is what is the normal market value for that specific property and is the asking price sufficiently below this level to make it an attractive proposition as a long term investment?

Morbier

Yes, in France it's called the 'viager' system. I think the idea is you take a gamble on how long the sitting tenant will live, in order for you to make a profit on the eventual sale (assuming you've paid below-market price for it in the first place). Almost sounds inhuman - do you keep ringing the tenant up to say "just checking if you're still alive"? :eek:

But I can see it has distinct advantages for both parties.

Owain_Moneysaver

And the current vendor's state of health.

Owain_Moneysaver

tiernsee wrote: »

https://www.rightmove.co.uk/property-for-sale/property-81520859.html


My guess is even with the substantial investment to get this property up to scratch it is unlikely to turn much profit.

The bedroom wallpaper is, um,

powerfully evocative of its era.

Deep_In_Debt

Loving the bathroom....
https://www.rightmove.co.uk/property-for-sale/property-71343880.html

Davesnave

Deep_In_Debt wrote: »

Loving the bathroom....
https://www.rightmove.co.uk/property-for-sale/property-71343880.html

As soon as I saw that, I imagined someone in 1977 humming this as they had their morning bath/shave/whatever...:)


https://www.youtube.com/watch?v=GvHyeXis_t8

Ocelot

poppy10 wrote: »

I read about this a few months ago.

Full story:

https://www.dailymail.co.uk/news/article-6920605/Pensioner-64-puts-three-bedroom-home-sale-cut-price-350-000-theres-catch.html