The speculation game

ProDave

If you want to ponder "what happened here" there is a house not that far from me that sold 3 times last year.

It sold through an estate agent, in May 2022 for £435K
Almost immediately it went to auction and sold for £250K in June 2022
And then went pretty much straight back to auction where it sold for £310K in October 2022

I wonder what made the May 22 purchaser sell it so quick at such a loss?

mi-key

ProDave said:

If you want to ponder "what happened here" there is a house not that far from me that sold 3 times last year.

It sold through an estate agent, in May 2022 for £435K
Almost immediately it went to auction and sold for £250K in June 2022
And then went pretty much straight back to auction where it sold for £310K in October 2022

I wonder what made the May 22 purchaser sell it so quick at such a loss?

Perhaps the survey came back with something really bad? If the original buyer just pulled out for some other reason, it would be very odd to put it in auction a month later and take such a huge hit.  Also, if it was worth £435K even at auction I would have expected it to go for over £300K 

ProDave

But these are the SOLD prices from the land registry so one assumes each of these sales actually completed?

YoungBlueEyes

I’m desperate for a look at the listing for that 😁 

Does seem a hell of a chunk off eh

FreeBear

YoungBlueEyes said:

I’m desperate for a look at the listing for that 😁 

Does seem a hell of a chunk off eh

Same here.

Post a link (or it didn't happen)

ProDave

FreeBear said:

YoungBlueEyes said:

I’m desperate for a look at the listing for that 😁 

Does seem a hell of a chunk off eh

Same here.

Post a link (or it didn't happen)

This one  https://www.zoopla.co.uk/property/uprn/130133385/

But you have to register with Zoopla to see the previous listings, and I can't be bothered to register with a service I will never use.  If anyone registers manages to find a link to the listing that the rest of us can view please post it.

YoungBlueEyes

I haven’t registered either, same reason. 

RM is just as unhelpful. 

https://www.rightmove.co.uk/house-prices/details/scotland-21236341?s=357c50c07b0a4023cb0e2252c74f1d0b45daeb2f17c414f5e4696fe45924e7bc#/

So that’s another mystery for the list. 

SilasMarner

YoungBlueEyes said:who are really try ing to be friendly when they express themselves at 

Who knows why people do these things. Could be almost any reason really, but probably one of the ones already mentioned.

We sold our house about 4 years ago, and the couple that bought it still haven't moved in. There's cardboard up on the windows, and some Christmas decs appeared the first year, but there's been literally no movement other than that. Not that's not true - they swopped out the beautiful solid oak front door for the ugliest plastic jobber quite soon after they bought it.

Maybe they wanted to change the layout and can't afford it now. Maybe they're held up in planning. Maybe they split up. Maybe they got wiped up by a drunk driver and are lying in comas in a hospital. Maybe one of them died. Maybe they can't afford their mortgage now. Maybe they only bought it so it can sit there and go up in value regardless (banking on the good address). Maybe they won the lottery and have forgotten all about it while they're sipping Mai-Tais on their private island and arguing about who's turn it is to clean the helicopter.

It could any of the above reasons.

Yes. "Who the heck knows". My guess is that they are waiting for delivery of a new hot tub with Bose sound system. Must go and top up my half empty glass.

mi-key

YoungBlueEyes said:

I haven’t registered either, same reason. 

RM is just as unhelpful. 

https://www.rightmove.co.uk/house-prices/details/scotland-21236341?s=357c50c07b0a4023cb0e2252c74f1d0b45daeb2f17c414f5e4696fe45924e7bc#/

So that’s another mystery for the list. 

I think something weird is going on ! someone paid £215K in 2003 and then sold for £4K 3 years later ??? 

Mind you from what i can see on Zoopla its a 9 bed house in the wilds of Scotland?  I'm not registered on there but I am guessing maybe its a complete shell and needs a massive amount spending on it 

Eldi_Dos

ProDave said:

If you want to ponder "what happened here" there is a house not that far from me that sold 3 times last year.

It sold through an estate agent, in May 2022 for £435K
Almost immediately it went to auction and sold for £250K in June 2022
And then went pretty much straight back to auction where it sold for £310K in October 2022

I wonder what made the May 22 purchaser sell it so quick at such a loss?

Was the first sale way above what you would have thought market value for the property at that time