FAO DIYers i need your input

Farside

keystone wrote: »

I know you only wanted input from DIYers so refrained but having watched this thread develop with some interest I have to offer you some advice:

Run away!

Cheers

I will if i find out it's a repossession, But until then i'll keep going for it, Its a very good house and i have many friends that can help me out (Plumbers, Surveyors, Plasterers), I just need to find an electrician haha.

I'll take pictures this saturday when i go view it then put them here (if this forum allows them), then you can let me know if you still think that i should run away :beer:

Farside

ian103 wrote: »

I think Keystones advice is sound and the one I'd follow!

Thanks to the stupid housing market this is the only one i can afford now . I'd rather get a run down place and then steadily do it up over the years then pay off someone elses mortgage, Which is what i'm doing now as i'm renting. When i get to retirement age i'm leaving the uk anyway so i can sell the house and use the money to live overseas in my wifes country. I don't even mind if i lose money on the house, I'll lose much much more by renting until i retire.

ian103

Can't argue with your comments but the house sounds like a lot of work and of an unknowns at present.

We have just put an offer in on a property and have been well outbid. The place was a dump, very tired and needed gutting. Needed a significant amount spending on it, my starting point was maximum potential sale price on the estate less the anticipated costs, then rounded up to a sensible bid and I expected to be taking a risk of £10-15k. Winning offer seems to take no account of maximum potential sale / value or cost to modernise - so I understand your comment 'stupid housing market'

Farside

ian103 wrote: »

Can't argue with your comments but the house sounds like a lot of work and of an unknowns at present.

We have just put an offer in on a property and have been well outbid. The place was a dump, very tired and needed gutting. Needed a significant amount spending on it, my starting point was maximum potential sale price on the estate less the anticipated costs, then rounded up to a sensible bid and I expected to be taking a risk of £10-15k. Winning offer seems to take no account of maximum potential sale / value or cost to modernise - so I understand your comment 'stupid housing market'

It is a fair bit of work but atleast the kitchen and bathroom look new and need no work, apart from lights re-installing and a shower head re-attaching.

The seller turned down my orignal offer, It was only £4,950 under the listed price !!!!!!, Apparently the EA says there's tons of interest and they never take the first offer.... :wall:

Yes i know where you are coming from but the buyer may not be someone looking to invest to do up and sell on, They sound like they would be living there if they spent that much on the winning bid.

keystone

Farside wrote: »

I'll take pictures this saturday when i go view it then put them here (if this forum allows them), then you can let me know if you still think that i should run away :beer:

Fair enough but I have a feeling in me water it's going to be a money pit and I'm just not sure thats what you need or want tbh.

Cheers

Edit: and thems wot got themselves chucked out didn't take the kitchen etc because they didn't have time. Bet they would have gone if they'd had another couple of days.

Owain_Moneysaver

Chopper_Read wrote: »

As long as he knows all the tricks you'll know what you're getting.

Just make sure all the pipes are present in the loft before you turn the water on.

And the gas.

And don't go crawling in the loft or under the floor with the lecky connected in case you find a cut-off wire end poking out.

robatwork

Impossible to be precise, but I'd be after a £25-30k discount, because you could well be spending that..... and that's before you need a new roof etc.