fp
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Post by fp on Jun 29, 2016 21:30:39 GMT
Note the term "guide price"
Anyone familiar with auctions will know this can mean very little, carrot and stick... It gets people interested, they decide in their own mind its worth more, and invariably it will sell for more.... Usually.
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ben
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Post by ben on Jun 29, 2016 21:53:15 GMT
Not in this one but says valuation recieved going to auction a month ago no mention of what valuation was a month ago but states to repay loan.
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treeman
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Post by treeman on Jun 29, 2016 21:57:47 GMT
Certainly is the same place - easy to find .........
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goopy
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Post by goopy on Jun 30, 2016 8:20:54 GMT
Note the term "guide price" Anyone familiar with auctions will know this can mean very little, carrot and stick... It gets people interested, they decide in their own mind its worth more, and invariably it will sell for more.... Usually. The asset value is supposed to be 500k, 200k is only 40% of the 'value' ..... That is a very big carrot...
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Balder
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Post by Balder on Jun 30, 2016 8:48:23 GMT
Guide price doesn't have a lot of relevance. I recently attended a property auction which gave a guide price of 35k-40K . Turned out the reserve was actually 70K.
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ben
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Post by ben on Jun 30, 2016 8:49:25 GMT
Not one I invested in as no way was the land worth £500,000 in that area when you look at what some properties have sold for near by even if they have completed it as planned there would have been very little profit left in it
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moist
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Post by moist on Jun 30, 2016 10:44:15 GMT
on the bridging loan particulars... 'Lendy Ltd has full underwriting in place for £350,000 of this loan if necessary'.
Site value...reckon 250 maximum.
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Liz
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Post by Liz on Jun 30, 2016 11:04:40 GMT
The next auction for the agent is Wed 20th July, looks like this land will be sold at that auction.
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fp
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Post by fp on Jun 30, 2016 12:02:34 GMT
Note the term "guide price" Anyone familiar with auctions will know this can mean very little, carrot and stick... It gets people interested, they decide in their own mind its worth more, and invariably it will sell for more.... Usually. The asset value is supposed to be 500k, 200k is only 40% of the 'value' ..... That is a very big carrot... So is 12% interest..... I don't know the area or land values around there, but where flats are concerned the value generally comes from the number of plots available, I believe this is upwards of 10 separate units (plots) with potential for a lot more, and based on my own experience in the past, the value can be quite surprising once planning is obtained. If it does not have the planning, then unless you are in the know with the local council it would be a brave gamble in my eyes, especially as its a conservation area. I think 500k as it was would be an optimistic valuation, I would not have had money in it, and I had already looked at it well before stumbling upon this thread
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treeman
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Post by treeman on Jul 19, 2016 11:31:16 GMT
This one's still on the list to go under the hammer tomorrow ............
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 19, 2016 11:52:23 GMT
This one's still on the list to go under the hammer tomorrow ............ Catalogue amendments (19 July 2016) notes... Sounds good to me; I wonder if this has been guided low to attract the masses?
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mikes1531
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Post by mikes1531 on Jul 19, 2016 15:13:06 GMT
This one's still on the list to go under the hammer tomorrow ............ Catalogue amendments (19 July 2016) notes... Sounds good to me; I wonder if this has been guided low to attract the masses? If it doesn't sell tomorrow, maybe SS will go back to the borrower with an offer of an extension or development finance in light of the newly obtained OPP. 
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Post by GSV3MIaC on Jul 19, 2016 17:18:32 GMT
If they do, I hope they won't roll all the current holders in to the new loan 'like it or not'.
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ben
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Post by ben on Jul 19, 2016 17:30:33 GMT
Hopefully with the new OPP would make it easier to sell , not sure I be so keen on offering finance to it.
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adrianc
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Post by adrianc on Jul 19, 2016 17:41:45 GMT
If they do, I hope they won't roll all the current holders in to the new loan 'like it or not'. Easy enough to avoid. Just put your old-loan chod on the SM before the DFL goes live.
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