Very confused

Ak92

Evening everyone,

Now I'm not an expert on house buying or prices. But looking at this property I can't understand why it has been on the market since April and hasn't been sold? It's a freehold in a great location.

I have done some research and found that according to zoopla it's value is £65,000 however it's on for £155,000 and sold last in 2005 for £18,650. I'm confused, obviously I need to book a viewing to get a feel of the place, but just wanted to get some advice from you lovely people. Here is the link

https://www.zoopla.co.uk/for-sale/details/47327284?search_identifier=dd2cff98b64b235a01180d710d0e9f0e

Thanks for reading

middleclassbutpoor

Looks like it’s a repossession and now in receipt of an offer?

Red-Squirrel_2

The tape over the toilet/sink is a good indicator that its been repossessed.

G_M

zoopla valuations are really useful.

After you've done your number twos in the morning.

(or evening - whenever)


Have you looked at other localproperties?

https://www.primelocation.com/for-sale/details/49784655?search_identifier=0d7c987b420b66d2214f09a04a4ce1ca

https://www.primelocation.com/for-sale/details/48971600?search_identifier=0d7c987b420b66d2214f09a04a4ce1ca


https://www.primelocation.com/for-sale/details/49888044?search_identifier=0d7c987b420b66d2214f09a04a4ce1ca

Ak92

Ok, but I dont get why it's on sale for almost £90,000 more than the estimated value? Repossessed properties was something I was considering, so not an issue for me.

From the ad I can't seem to pick up anything wrong with the property and quite shocked to why it has been on the market for so many months.

G_M

forget zoopla's estimated value!That's just po-poo paper!



Compare it against other similar local properties.

Ak92

Thanks G_M however those properties are out of the budget we have in mind. £160,000 is our max and we are both FTB. However, all very nice houses and appreciate your input

Ak92

Ahh ok I'm with you, may book a viewing and do some extra homework then

AdrianC

Mortgagees in possession are now in receipt of an offer for the sum of £160,000 for <address>.

Anyone wishing to place an offer on the property should contact <agent>, before exchange of contracts or within the next 7 days whichever is sooner.

That bit in the description is also a really good indicator that it's a repo. And that somebody's put an offer in.

You want it? Put a higher offer in. And don't muck about.

datlex

The do not use on the toilet etc would put me off. I would want to flush the toilet to check it is working on way round.

davidmcn

datlex wrote: »

The do not use on the toilet etc would put me off. I would want to flush the toilet to check it is working on way round.

Standard practice for repossessions (and indeed some other types of sale e.g. relocation companies) is to turn off utilities and drain the plumbing. You might be able to persuade them to allow you to carry out testing pre-exchange, but it isn't going to happen at first viewing. Fixing a toilet is hardly going to break the bank anyway, things like boilers may be more of an issue.