Barnard Marcus auction yesterday - carnage!

chrisandanne

It looks skipped to me too.. A x

snoopy78

amcluesent wrote: »

That semi in Surbiton looked nice, but unsold at £415,000!

Thank you all those who kept an eye out for me, just got back after a meeting my brother will be happy.
It is a big old place but really needs a lot doing to it, re-wiring, plumbing, plastering etc, and it is on surbitons main road, but has a large front so could sheild off some load sounds with bushes etc.

moanymoany

And yet STILL every morning on the BBC 'Homes Under the Hammer' makes buying at auction look like a licence to print money!

Pity they don't do part of the programme about what is happening NOW.

neverdespairgirl

greyskittles wrote: »

The flat I was looking at went unsold, the final bid was £42k. It was in the local EA a few months ago for £50k. What happens to these properties that go unsold at auction?

Some are sold privately post-auction, some go in another auction.

PasturesNew

moanymoany wrote: »

And yet STILL every morning on the BBC 'Homes Under the Hammer' makes buying at auction look like a licence to print money!

Pity they don't do part of the programme about what is happening NOW.

A lot are quite old though, 2005 was today's offering.

Also, one last week couldn't have made any money....

This bloke:
http://www.houseprices.co.uk/e.php?q=24+gladstone+court+&n=10

Spent £13k, but didn't sell it for well over a year. He said he bought it to live in. But even so, 210+13+(17*£1100 interest) = £262,000
+ buying fees - £2000 stamp duty, £1k+VAT solicitor/searches? = £3,000
+ selling costs/fees (1% EA + £1k+ VAT solicitor?) = £3,500

Total cost of ownership £268,500
Sold for £248,000

He could have rented and sat on his harris for 18 months.

P.S. Yes, I make extensive notes on every programme every morning. God bless OCD.

formulaonefan

I have a quick question: All these auctions, are these cash-only purchase? can someone put 10% or 20% deposit down and wait till they get a mortgage and pay the rest back?

moanymoany

Do you know PasturesNew, I've never noticed that they tell you the date of the programme - pay attention there!

MissMoneypenny

Only 52% sold yesterday:eek:

http://www.barnardmarcusauctions.co.uk/Current_Auction.html

Edited to say that 52% did not sell yesterday as some sold before.

284 Lots offered
80 Sold in room
67 sold prior
= total lots sold 147

So yesterday they had 217 lots for sale and sold 80 of them.

Trollfever

can someone put 10% or 20% deposit down and wait till they get a mortgage and pay the rest back?

No.
You will need your finances sorted and a tame solicitor as you will have between 14 & 28 days to complete your purchase.