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Urgent ! Auction Property sold through misrepresentation.
Comments
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The whole point of auctions is shifting houses fast, even when they're unmortgageable, illegal or unsafe.
Count yourself lucky it's got walls and a ceiling (I presume it has).
Auctions are not like regular sales, you bid you buy - and if you can't complete, on time, you're sued. If you fail to complete on the date you already have you'll probably lose your deposit - AND - have to pay more to buy it again, if they offer it to you at that point. They might let you buy an extension to the completion date.
There is no misrepresentation.
£143,000 for a fast course in auction purchases.
Nice pink bathroom suite
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I wouldn't bet on that...Chances are you will cover your losses or even make a small profit for doing nothing - if you are lucky.
£150k 1-bed, nice inside, in a much nicer looking block.
http://www.rightmove.co.uk/property-for-sale/property-47362922.html
£140k, 1-bed, cluttered pics but looks OK, in a nicer looking block.
http://www.rightmove.co.uk/property-for-sale/property-48418514.html
If the OP really has signed up to £143k +2% fees for a studio in need of "modernisation", in a block that dismal looking, then they're probably best off looking to minimise their losses by getting out of it.
Sub £100k London does exist. You might not want to live there, but it does exist. Usually for a damn good reason.0 -
PasturesNew wrote: »The whole point of auctions is shifting houses fast, even when they're unmortgageable, illegal or unsafe.
Count yourself lucky it's got walls and a ceiling (I presume it has).
Auctions are not like regular sales, you bid you buy - and if you can't complete, on time, you're sued. If you fail to complete on the date you already have you'll probably lose your deposit - AND - have to pay more to buy it again, if they offer it to you at that point. They might let you buy an extension to the completion date.
There is no misrepresentation.
£143,000 for a fast course in auction purchases.
Nice pink bathroom suite
The OP hasn't even stated what property he bought? How has everyone presumed this is the property?
I doubt he will return anyway.0 -
Deleted_User wrote: »The OP hasn't even stated what property he bought? How has everyone presumed this is the property?
I doubt he will return anyway.
Why have you presumed it's a 'he?'
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Quizzical_Squirrel wrote: »I was actually there but left early because I'd already spent all my cash on Lot 37 - the broken lawnmower engines....
Thank god there was no garden in the (sparse) description then.0 -
Deleted_User wrote: »Good question!
Not sure really, I doubt a female on her own would be quite so presumptuous.
Waiting to be shot down in flames...:)
Pre-emptive, reckless, uninformed?...;):D0 -
What a Plonker.Quizzical_Squirrel wrote: »I was actually there but left early because I'd already spent all my cash on Lot 37 - the broken lawnmower engines....Political?....I dont do Political....well,not much!0 -
This happens quite a lot, and I find it quite odd. OP asks a question then goes away and doesn't come back.0
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To be fair to this OP, given the timescale of 2 weeks he has to work with, no mortgage, trying to see if his solicitor can help dig him out of this hole, find bridging finances or whatever- I see it as a good sign.
More a case of vroom, vroom than get your skates on.0
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