rogerthat
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Post by rogerthat on Jan 30, 2018 22:15:51 GMT
I know there's one on FS DD but cant find one on the open forum...merge if necessary please
Well well...Id kinda forgotten about this one..had squillions invested at one time on another P2P..but lost my nerve.
Its been SOLD for £2.8m BUT dependent on conditions being met with regard to architects finishing specs. Gordon Bennett Id wager the developer cant wait to get off the site. Almost £2m in various charges and still work to be done..was it all worth the effort I wonder ?
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woodland
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Post by woodland on Jan 30, 2018 23:34:06 GMT
Rogerthat, does the stated sale @ 2.8 million give you back confidence that it's worth another nibble? I am not a regular property investor but is this a slightly odd process of exchange & completion? I presume that there are no stringent requirements for the latter to happen to happen.
(I note that the initial estimated valuation prior to the development starting was only £2.4 mill, so this seems to have been exceeded).
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rogerthat
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Post by rogerthat on Jan 31, 2018 1:24:34 GMT
Rogerthat, does the stated sale @ 2.8 million give you back confidence that it's worth another nibble? I am not a regular property investor but is this a slightly odd process of exchange & completion? I presume that there are no stringent requirements for the latter to happen to happen. (I note that the initial estimated valuation prior to the development starting was only £2.4 mill, so this seems to have been exceeded). Nope woodland, it doesn't. I flipped out when I got the chance (with a previous P2P) and to reverse that decision now when the end is in sight (allegedly) would tempt fate. Further there is a 2nd property tied up with all this and I have no idea what the state of play is with that..this whole saga goes way back and I'm not going to even attempt to try and familiarise myself with the history. IMHO the 'developer' will have regretted the day he ever started this and will be happy enough to finally get it off his hands..if and when that actually occurs !..there's no shortage of new loans coming to market.
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