House descibed as worthless is this true?

AdrianC

Cakeguts wrote: »

Even if the building isn't worth anything the plot will be.

The building will be worth something...

Somebody who needs a mortgage might not be able to buy it, but a cash buyer certainly can - and if that cash buyer is a BtL landlord, they will, provided that the yield is right. Figure out the rental value, and I'll bet you could easily get c.14x that (7% yield) if it's in decent rentable condition.

Owain_Moneysaver

There is a variety of house types and some are considered "defective", and some aren't.

Many of the "defective" types can be turned into acceptable, mortgageable houses with appropriate insulation and cladding works. Whether this is worth doing depends on the resulting sale value vs the costs of doing the work.

You may need to take advise from a local surveyor or structural engineer with experience in non-standard construction.