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Urgent ! Auction Property sold through misrepresentation.

124678

Comments

  • freeisgood
    freeisgood Posts: 554 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Why do you all think it is that particular listing? The OP mentioned it was a one bedroom flat.
  • Upsidedown_Bear
    Upsidedown_Bear Posts: 18,264 Forumite
    10,000 Posts Combo Breaker
    edited 23 February 2015 at 3:04PM
    bxboards wrote: »
    Is it this property here?

    http://www.rightmove.co.uk/property-for-sale/property-48236497.html

    '
    key features

    • For sale by auction
    • Flat
    • Number of Bedrooms: 0
    • Number of Bathrooms: 1
    • Number of Reception Rooms:'
    If so , as it's London it's probably still a good price.


    I have bought property at auction, and there are some really bargains to be had, but you do need to view them.


    You have a legally binding contract, so you either pay up or forfeit your 10% deposit.
    If it was that flat it sold for £143 000. Lot 128.
    http://catalogue.auctions.savills.co.uk/london-national/Previous-Auctions/#&&s=1

    ETA
    The auction on 17 February.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    maninthestreet wrote: »
    I'm interested to know what research the OP did on buying a property at auction before going anywhere near a property auction, and what research they did on the property in question before actually bidding on it at an auction.
    Taking joy from other people's mistakes? The germans have a word for that.
    I doubt the OP will return given the nonsense in this thread so far.
    Changing the world, one sarcastic comment at a time.
  • moneyistooshorttomention
    moneyistooshorttomention Posts: 17,940 Forumite
    jjlandlord wrote: »
    Well:



    In a description it is not unreasonable to interpret this as an enumeration.

    However, if it was also described as a "studio flat" then it should be clear.

    That's how I took it:
    - kitchen (described as "reception/kitchen")
    plus
    - 3 rooms
    plus
    - bathroom

    ie I took it that they were listing that it has a kitchen, then it has 3 rooms, then it has a bathroom.

    The German word is schadenfreude = deriving pleasure from others misery.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    Upsidedown_Bear wrote: »
    If it was that flat it sold for £143 000. Lot 128.
    Against a guide of £80k? Ooof! No wonder there's a bad case of buyer's remorse...
  • StumpyPumpy
    StumpyPumpy Posts: 1,458 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    Upsidedown_Bear wrote: »
    If it was that flat it sold for £143 000. Lot 128.
    http://catalogue.auctions.savills.co.uk/london-national/Previous-Auctions/#&&s=1

    ETA
    The auction on 17 February.
    Whether it is or isn't the flat the OP bought, No. 53 must have one happy vendor - bought for £80k on 12 Nov 2013.
    http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43618550&sale=50669717&country=england

    SP
    Come on people, it's not difficult: lose means to be unable to find, loose means not being fixed in place. So if you have a hole in your pocket you might lose your loose change.
  • Jhoney_2
    Jhoney_2 Posts: 1,198 Forumite
    Quizzical_Squirrel wrote: »
    That's how I would read it too.
    It doesn't say "Three rooms: blah blah"
    The embedded "three rooms" description is given equal weight with the named rooms.

    In other markets, when you see 3LDK for example (3 rooms plus living/dining/kitchen), it doesn't mean the three rooms are the LDK, it means 3 rooms +LDK.

    Therefore, I would have interpreted this description in the same way.

    Good thing you were not at the auction then...you could have potentially created a bidding war between you.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Jhoney wrote: »
    Good thing you were not at the auction then...you could have potentially created a bidding war between you.
    Love it!

    Two bidders driving up the price on a property neither of them wants......
  • rizla01
    rizla01 Posts: 7,260 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I wouldn't be too concerned Auction Boy for unless there was some 'Bids off the wall' that pushed your bid up, you will only be paying a few hundred more than what someone else felt it was worth paying.

    Not exactly the end of the world - just not the billy bargain you were hoping for.

    Go and complete on the sale, clean it up and ask an EA to come and value it. Chances are you will cover your losses or even make a small profit for doing nothing - if you are lucky.

    Next time, don't buy blind unless you have done a LOT of research or better still, leave auctions to the more savvy.
    "Unhappiness is not knowing what we want, and killing ourselves to get it."
    Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))
    Women and cats will do as they please, and men and dogs should relax and get used to the idea.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    <shakes head, sadly>

    However you may parse that very brief description, and I'm still reading it as three rooms total, why would ANYBODY bid at auction for somewhere that they hadn't actually satisfied themselves EXACTLY what they were trying to buy?

    And why would anybody pay damn near double the guide price for a manky flat in one of the least desirable corners of London, whether they'd seen it or not...?
This discussion has been closed.
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