r00lish67
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Post by r00lish67 on Jun 28, 2017 11:05:29 GMT
"A 6 month loan secured by a first legal charge against a property in Solihull. This is the first tranche of a total facility loan of £400,000 against a GDV of £700,000". fundingsecure , is there a valuation report for this property available? I can only see marketing material for a nearby property up there currently. |
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michaelc
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Post by michaelc on Jun 30, 2017 18:34:55 GMT
So before this house was split off from its neighbour, it was sold for 375K for Jul 2007. Adjusting for house price inflation (using zoopla) gives a figure of 438k. That is the value of both houses (minus the office to residential planning confirmation). The land of this house is much smaller than its neighbour and the building footprint also appears smaller. Without any previous sale to go on, surely this house is worth no more than half of them both so a current valuation of 219k seems reasonable?
Without permission to significantly increase the size of the house, I don't understand how it is going to gain in the value from somewhere around 219k to a final figure of 700K as predicted by the marketing ?
Unless someone points out something obvious I missed, I'll be staying out of this one.
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Steerpike
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Post by Steerpike on Jun 30, 2017 18:55:13 GMT
Is this the barn that was listed for sale by public auction Wednesday 3rd May 2017 at £275k by K***y H***s and is now showing as sold STC?
Perhaps it fetched a lot more than the asking price?
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