Viewing 15 posts - 41 through 55 (of 55 total)
  • Buying a house that's being a bit weird….
  • wrightyson
    Free Member

    As I said before the agents have to pass on any offer “by law” so go in low with a bit of a punt! You never know? I don’t know the area or the local build costs, they can differ hugely depending on as I’m sure you know oop Norf or darn sarf rates!

    nealglover
    Free Member

    Am I missing something here? 130k for the plot then you reckon 100k for the build. Where’s the “handsome profit”

    Anything it sells for above £230k ?

    Which in the right part of Pudsey could be a fair amount.

    (Not sure where the plot is exactly, but a 3-4 bed detached in Pudsey could easily get £400k in the right place.)

    wrightyson
    Free Member

    So I’ve actually looked at the plot now and read through the whole of the posts and personally I don’t think you’ll get the development you’re after with a 35k budget. You’ll spend a surprising amount on digging trial holes and getting an engineers report on the founds to see if you could actually go up with out improving what’s already there! If he comes back and says no, your leg is fully in so you’re gonna have to find extra. Is it a risk you could stand?

    wrightyson
    Free Member

    You are not going to build a quality 4 bed that’ll achieve 350k for 100k. Again as I say tho I don’t know the area so if Neals figures are right then as the board says its already sold!

    dribbling
    Free Member

    Spoke to Estate Agent – apparently this was attached to another property once upon a time, hence why legals are taking so long.

    Decent chat, doesn’t seem any reason for it to fall through. 😥

    trail_rat
    Free Member

    nothing ventured nothing gained.

    molgrips
    Free Member

    Grass also needs a cut. That’ll have to be factored in.

    Pieface
    Full Member

    4 months not unreasonable, could be a whole big chain elsewhere that is being delayed by someone squabbling over whether the fridge is included in a sale of a house in Falkirk.

    Was always told 12 weeks was a rule of thumb, however now where 1st time buyers finances are regularly falling foul shortly after making an offer these delays are not uncommon

    joemarshall
    Free Member

    I have several friends who bought houses to do up as their first houses. Second houses, they go for things that don’t need doing up at all. Stupid idea unless you have trade contacts, or are able to do all the expensive work yourself (plastering, plumbing, wiring etc.), or for some reason want something different to any other potential house in the area.

    You just end up wasting all your weekends for years doing diy, spending all your money on it, when you’d probably have spent less on just buying a ready done up house.

    MrGrim
    Full Member

    Would you have got a mortgage on it? Not sure about down south, but up here in Scotland the surveyor decides if the condition of the property is suitable for mortgage purposes. The lender then reviews the survey and determines whether or not they will lend.

    A lot of properties here in need structural work are great for property developers who have cash as the price is driven down by the lack of domestic buyers looking to borrow for a home.

    trail_rat
    Free Member

    “Stupid idea unless you have trade contacts, or are able to do all the expensive work yourself (plastering, plumbing, wiring etc.),”

    agree

    for me it was about being able to buy a house the size and location of which i couldnt afford ready done (didnt want to be in a new build estate looking into my neighbours front window and i wanted to avoid trying to climb the ladder)- which it seems dribling was looking at too…

    trail_rat
    Free Member

    also mr grim – as for mortgages , as long as its habitable(meets the criteria) with no structural defects and the survey says its worth what your trying to take from them to buy it then you shouldnt have an issue. – friends of mine even got a mortgage on a house with zero heating (not even a gas or coal fire) last year with a terrible credit history……

    that looks like a sound “little” house in the photos – obviously there might be underlying issues come up on a viewing.

    mudshark
    Free Member

    I have several friends who bought houses to do up as their first houses. Second houses, they go for things that don’t need doing up at all. Stupid idea

    Hmmm well my 2nd house was the one I bought to do up but I only bought it as I couldn’t afford a house in the area otherwise. I saved up for a couple of years then paid for it all to be done and eventually moved to my current house. Yeah it was hassle when it was done but worked out very well.

    DrP
    Full Member

    Maybe it’s taking an age to clean the original owner out of the carpet?

    DrP

    nick1962
    Free Member

    Internal Viewing A Must!!

    Estate agent with sense of humour shock!

Viewing 15 posts - 41 through 55 (of 55 total)

The topic ‘Buying a house that's being a bit weird….’ is closed to new replies.