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Auction disaster advice

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Comments

  • Smalltownhypocrite
    Smalltownhypocrite Posts: 200 Forumite
    100 Posts Second Anniversary Name Dropper
    Catonthemoon said:
    Is this property in the UK? I’d be interested to know where you can get a property (habitable), for £55k these days!
    Regarding the rent, which, no doubt, you will clarify… achieving that level of rental income (£750 pm) from a property valued @ circa £55k is a hell of a return - it doesn’t seem to stack up!!

    You can up here in the north east, might have downsides (example: short leasehold, rougher area, very small, dated doer up etc...) but definitely 'habitable'. To be habitable it just has to be safe enough (no serious structal issues or rampant damp/mold etc...) and have a kitchen and bathroom.

    If your looking for say a 1 bed flat or a small 2/3 bed terrace in a less desirable area it would be pretty easy to fine. Just the first ones up on rightmove when I searched:


    or


    or


    or


    theres many more, obviously can't post all.


  • MysteryMe
    MysteryMe Posts: 3,455 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    OP sounds like someone who needs in person advice from a solicitor. 
  • GDB2222
    GDB2222 Posts: 26,399 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    MysteryMe said:
    OP sounds like someone who needs in person advice from a solicitor. 
    ^ This. 

    This may be a scam, but the op may be locked in, with a binding contract. If so, he needs to face up to it. 
    No reliance should be placed on the above! Absolutely none, do you hear?
  • HonestJohn
    HonestJohn Posts: 1,207 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Homes Under the Hammer viewers will be smiling
    Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop questioning. Albert Einstein
  • QrizB
    QrizB Posts: 19,244 Forumite
    10,000 Posts Fourth Anniversary Photogenic Name Dropper
    Thank you for coming back to the thread! I look forward to hearing your report on how it all worked out.
    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.
    Not exactly back from my break, but dipping in and out of the forum.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
  • WIAWSNB
    WIAWSNB Posts: 1,329 Forumite
    1,000 Posts Name Dropper
    Hopefully, even if it turns out not to be the amazing bargain you first thought, it'll still - once all the unexpected bills have been paid - be 'value for money'.

  • QrizB
    QrizB Posts: 19,244 Forumite
    10,000 Posts Fourth Anniversary Photogenic Name Dropper
    Hi @JackJacobs did this all work out in the end? Are you able to provide that update yet?
    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.
    Not exactly back from my break, but dipping in and out of the forum.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
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