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Post by harvey on May 31, 2016 10:19:04 GMT
The garden centre business, the house and land is on the market for an asking price of 1.9 million pounds.
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Post by chrisuk on May 31, 2016 10:23:54 GMT
The garden centre business, the house and land is on the market for an asking price of 1.9 million pounds. That's great news. In these days of cheap loans I'm sure they'll get it.
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bloodycat
Member of DD Central
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Post by bloodycat on May 31, 2016 10:42:23 GMT
Does that mean its priced for a quick sale just to get back the outstanding capital, or that the original valuation was rather optimistic?
There's a few loans on here I have avoided because the valuations looked a little optimistic in the event of a default.
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Post by earthbound on May 31, 2016 12:10:19 GMT
The garden centre business, the house and land is on the market for an asking price of 1.9 million pounds. Thanks, £1.9m  .... oh dear. 
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adrianc
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Post by adrianc on May 31, 2016 12:13:03 GMT
The garden centre business, the house and land is on the market for an asking price of 1.9 million pounds. Thanks, £1.9m .... oh dear. Why "oh dear"? The loan is £1.7m. Then there's any other assets in the business.
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Post by Deleted on May 31, 2016 12:37:38 GMT
Details - (link deleted since it identifies the borrower)
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adrianc
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Post by adrianc on May 31, 2016 12:46:07 GMT
...Then there's any other assets in the business. ...plus stock at cost value. (I've not quoted the link, because I don't think it'll be around long - identification...)
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Post by chrisuk on May 31, 2016 12:48:03 GMT
harvey Thanks, £1.9m .... oh dear. Why "oh dear"? The loan is £1.7m. Then there's any other assets in the business. Yes - why 'oh dear'? Am I missing something?
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Investor
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Post by Investor on May 31, 2016 12:51:06 GMT
It's surely clear by now that they ( Savingstream) gave up trying to communicate sensibly via this forum some months ago, and I'm not in the least surprised. Not only has the platform given up but it seems to me that unfortunately quite a large number of 'old skool' forumites have given up or virtually given up as well.
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Post by magoo68 on May 31, 2016 12:51:23 GMT
When you sell something, you generally leave some "negotiation room" ..... ie the asking price may well not be the selling price, and there's only 200k leeway here, that "oh dear" would be my guess.
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Post by earthbound on May 31, 2016 12:53:27 GMT
'Un-like' time.  |
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Post by GSV3MIaC on May 31, 2016 12:54:35 GMT
...Then there's any other assets in the business. ...plus stock at cost value. (I've not quoted the link, because I don't think it'll be around long - identification...)
/mod hat ON
Well done .. it won't / wasn't .. but which bit of "PLEASE DON'T IDENTIFY BORROWERS" do posters have trouble understanding?!
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adrianc
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Post by adrianc on May 31, 2016 12:56:34 GMT
When you sell something, you generally leave some "negotiation room" ..... ie the asking price may well not be the selling price, and there's only 200k leeway here, that "oh dear" would be my guess. Equally, the sale price may well end up more. I've just revisited the original valuations and, by the current standards, they suck. There's no 90-day value. If there was, would that be £1.9m? Shock, horror - 90-day valuations are often much higher than 70% LTV.
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Post by chrisuk on May 31, 2016 13:07:19 GMT
...plus stock at cost value. (I've not quoted the link, because I don't think it'll be around long - identification...)
/mod hat ON
Well done .. it won't / wasn't .. but which bit of "PLEASE DON'T IDENTIFY BORROWERS" do posters have trouble understanding?!I clicked on the link before it was removed and the only names I could see was the garden centre and administrator. Am I missing something again??
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Post by earthbound on May 31, 2016 13:14:34 GMT
With regards to the new sale price of £1.9m, i wonder if this is a 90 day valuation (for a quick sale) or is this a standard valuation as per any other asset. It doesn't look good along *side the SS valuation of £2.43m, but as adrianc says , if its a 90 day one, then maybe more realistic. edit * |
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.... oh dear. 
