Estate agent jargon

bouicca21

I'm curious. I've seen ads for houses (well one) that states it has structural problems. I've seen lots that say needs refurbishment, when the photos seem to indicate nothing more than old fashioned decor and hideous swirly carpets. Presumably 'total refurbishment' means new kitchen and bathroom too (?) But what does 'in need of remedial works' mean?

martinsurrey

it means good luck getting a mortgage as the house is about to fall down an old mine shaft/off a cliff/into the neighbours garden.

Fire_Fox

To me that means it is likely unmortgageable or there will be a massive retention. The lender doesn't care that much if a place needs a new kitchen and bathroom they can still repossess and shift the house. They care a good deal if the roof is p1ssing in water or one wall is sinking, because their asset is at risk of depreciating rapidly or even disappearing altogether.

bouicca21

I rather thought that might be the case ... Thanks for confirming!