Buying a house that as been sold 3 times in less than 14 years

ReadingTim

The whole point of viewings, surveys, searches etc is to find out if there's anything wrong with it before you buy it. The fact that it was sold 3 times means that 3 separate buyers convinced themselves there was nothing particularly wrong with it when they bought it.

People sell for many different reasons, but the state of the property is usually pretty low down in those reasons. Different types of property, and property in different sorts of locations changes hands more or less often than other sorts of properties, and other locations.

Suggest you stop overthinking things, and concentrate whether *you* want to buy it, not trying to second guess the motives of its previews owners.

hazyjo

Blimey, no, I don't think that's a lot at all. I've moved around 3 times in the last 10 years. Shortest was 2 years. Longest I lived anywhere was around 6 or 7 ish.

pinkshoes

If it was sold every 1 to 2 years I would be concerned.

Houses get sold for all sorts of reasons.

warby68

dkts wrote: »

Thanks, i've noted your last advice and will try not to come off as suspicious, just new to buying so wondered if what I've researched meant anything etc.

Good luck - you are spot on to try and learn what there is to learn.

People who have bought and sold a few houses can help you loads with your learning curve and you'll get plenty of frank advice here too.

Just don't over analyse - house buying and selling is far more art than science and there is an endless permutation of reasons for sale/particular prices and possible faults. Just get in there, appear reasonably confident - view and offer selectively so agents don't consider you a time waster, don't cut corners with surveys and advice on any costs before you commit and get your ducks in a row with the money, mortgage and possibly solicitors - it all makes you seem less like a novice and more like someone who will see something through. Watch your local market like a hawk - learn what sells quickly, where is popular and what hangs around like a bad smell. That will give you confidence in what and where you choose to buy and what to offer (and when to stop).

Buy with both your head and your heart - it sounds a bit soppy but that's why the residential housing market is so complex. The practical stuff has to work for you but a home you love and really want to live in has a value distinct from the market one. Striking the balance can be hard, especially as virtually everyone falls in love with the properties just above their price ceiling :rotfl:

I'm older and have bought and sold 5 or 6 houses by now but do remember the blind fear of doing the wrong thing when it was the first one.

Best of luck

Sibz

Wouldn't necessarily concern me. You always do your due diligence regardless.

Something that would concern me would be the EA telling you that it's off the market because of damp - seems they're sharing that kind of information a bit more freely than I'd expect from someone acting on a buyers behalf (perhaps they've had a falling out).

Damp 'can' be a longstanding issue if nobody takes responsibility for sorting it. But it is usually fixable and easy to cost. If you are really interested in the property there's nothing to stop you contacting the seller and discussing the situation.

Also with price changes, we noticed recently while searching that there were a lot of properties being sold for lower values (my last property was one) and it was by LLs that were reducing or completely selling off their portfolios (the recent one was due to changes in LL regulations) - could have happened before too. The two £50k rises would be worth looking into - was an extension built or other major upgrading work done?

Norman_Castle

I rang up the estate agent to inquire about the property and they said that it's been pulled off the market because a surveyor had mentioned that there was damp in the property, so the owner has decided to fix the damp before putting it on the market again.

As you've been told about the recent damp it would be normal to ask specific questions and what has been done to resolve it.

AnotherJoe

Cakeguts wrote: »

As you are a first time buyer it sounds like the kind of property that 1st time buyers can afford. People don't tend to stay in this kind of house for very long. They move on to a house that 2nd time buyers can afford.

Exactly this. The house next to me (until it was sold to a LL), was resold to a FTB every 4 or 5 years, it's a small house suited to a couple or small family and as their family grows or income rises they move out to a larger house. (I'm still in contact with a couple of previous owners)

PasturesNew

As a first time buyer it's possible that the previous owners were also FTBs and all moved "up".

Also, increasingly these days, people are "fickle" and don't buy houses to stay forever, but just see them as "longer term rental replacements".....

Sibz

Norman_Castle wrote: »

As you've been told about the recent damp it would be normal to ask specific questions and what has been done to resolve it.

Definitely good advice above! - If you're seriously interested in this property - it's worth taking some time to look into damp and what you need to fix it?

Wobblydeb

The regular sales could be co-incidence, but equally I would be paying close attention to the neighbours (especially if it is not detached) and the neighbourhood.

A house can be well built, but a nightmare to live in if you get inconsiderate neighbours. Often just looking out the upstairs windows at the state of their back garden will give you some indication (we did this to avoid living next to a student rental). I would also look out for dogs in neighbouring houses. I love dogs, but they can be noisy, and the garden smelly if the owner lets them out but doesn't pick up.

Are there other potential issues like shared access?

Is it next to, or near to, something that could be annoying like commercial premises, a school, or a pub?