What's the catch??

Crashtogether

http://www.rightmove.co.uk/viewdetails-10377579.rsp?pa_n=1&tr_t=buy

Snooze - take a look and tell me if this is the box room you're on about lol

Generali

pinkshoes wrote: »

The clue will be in the words guide price, and by putting it very low, lots of people (like yourself) will think "ohhhhhhhhh that's cheap, I'm going to go to the auction and bid".

They will hope that one of you will have fallen in love with it, or perhaps researched what identical ones sold at in perhaps January 2008, so if the price keeps rising, so long as it stays a fair bit below the Jan 2008 price, you'll think you've got a bargain.

My experience of auctions (antique rather than property) is that they do exactly this for a few items and have a crazily high guide on a few items. Presumably the latter is to get sellers interested.

Snooze

Crashtogether wrote: »

http://www.rightmove.co.uk/viewdetails-10377579.rsp?pa_n=1&tr_t=buy

Snooze - take a look and tell me if this is the box room you're on about lol

Er yeah, pretty much, apart from that one's a 2 bedroom variety. Look at the size of the rooms - you can't even get a bed in bedroom 2 if you want to be in the room at the same time :rolleyes: ; No parking (everyone's got a car these days); you can shake hands with the bloke in the "apartment" opposite, and also see what everyone else is doing in theirs.

Sorry but I don't see anything attractive about it. That one's maybe got 500ft2 of space and for the same price you could get a 2-bed terraced in a decentish area of Manchester with probably twice the square footage, a garden, a separate kitchen, an attic, probably a cellar and most likely some on-street parking too.

To my mind it's a no-brainer.

Rob

Bungarm2001

Well, like others on here I would be totally surprised if it didn't turn out to have a much higher reserve.

Having said that, it's exactly the type of property and guide price that is aimed at suckering in the inexperienced and unwary. The excitement and pressure to buy will be piled on, and no doubt the vendor will be relying on a couple of bidders getting a bit carried away and one of 'em paying waaay too much for a property that will be equally difficult to rent as to sell in the future.

I've bought at many auctions, and you see this kind of thing all the time.

Go along and bid by all means if you think you've spotted a bargain, but ask yourself seriously, why are they selling? Why don't they let it out if as you say the rent is 'solid' at £650 for that area?

paintpot

I don't know where you saw the previous sale prices but recently I watched a programme, Panorama or something similar, where the big BTL property con merchants offering guranteed rent had managed to "rig" the sale prices.The purchasers who fell for their spiel all said they didn't purchase at the price showing on land registry data and had sold in negative equity because they weren't getting the rent they were led to believe they would after the guarantee period elapsed. My point being, don't believe all you read on property price sites, at least one of the features in the programme was Manchester and a new build development.

Flats are not my field, because I simply would not buy one, oversupply and under demand where I live, developers are going bust but still building :rolleyes: and landlords declaring bankrupty because they bought (many), can't even cover the rent and can't sell either without a massive loss. I stick to houses.

lynzpower

I share the reservations others have about that flat, I had a new build ( it was quite a lot bigger than that mind you) and these are the things I would look for if I were you. ( if you are considering buying it, that is)

1) if you are a fella try to take a lady around wearing a pair of heels, and get her to wander around the laminate. If thats a sound you can bear - then thats OK, but I made that noise and so did my neighbours....
2) knock on all the walls throughout, check if they are stud, they probably will be. Again noise can be an issue with stud walls, I could hear the boyf opening a can of coke 3 rooms away with the doors closed.
3) try and go on a hot day or in the hottest part of the day if you can. I say this as my new build flat was utterly sweltering and it was one of the main reasons I sold it. Unbearably hot in summer, i could barely sleep there at times.

Additionally, I would have reservations about the "kitchen'. theres no cupboards! Zero space for any sort of food prep. Ok if you want to survive on pot noodles but no idea where you would even put a microwave or toaster! theres no workspace at all! Ive seen quite a few "apartments" with these poky kitchens ( the shockers are the ones crammed behind a cupbaord with 2 rings only!) and Im inclined to think that these are the sorts of reasons people dont stay in them for long. It must feel like camping to have such a minature kitchen.

Curious_Moose

Crashtogether wrote: »

intersting read pennylane99. Although that was in an area that needs redevelopment, whilst manchester city centre is already established! Feel sorry for those who bough off-plot!

Anything in Ancoats is on the wrong side of Great Ancoats street and always will be. People want to live in Manchester city centre so they can walk to work and have the pubs/shops/restaurants within easy walking distance.

Ancoats is sufficiently outside of the city centre to make this a bit of a chore as well as meaning the walk home can be a bit dodgy sometimes.

Oh, and they can rename Ancoats "Little Islington" or "Little Venice" and that doesn't change the geography!

JF77

globalds wrote: »

It could be this

I love this pic so have stole it for my avatar hope thats ok.

globalds

JF77 wrote: »

I love this pic so have stole it for my avatar hope thats ok.

I would love to tell you it was all my work ,but alas I just pilfered it off the web ..help yourself

xxjennyxx

It looks like a reposession , in the bathroom the toilet and taps have got 'do not use' tape one them