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Post by munchydave on Feb 4, 2018 14:17:46 GMT
However, there is something on the auction website that suggests that the reserve price is usually no more than 10% above the guide price. So it could be as low as £1.65M. In that Case shall we buy it. Always fancied being lord of the manor. Even better. I will get a loan from lendy, which I have no intention of repaying but wait no problem. I will buy the castle for 3.5 million so you all get paid out and then when it defaults we will own our owne castle, or at least the investors will. Loan is still in default but at least you get a share in the castle.
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r1200gs
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Post by r1200gs on Feb 4, 2018 14:28:05 GMT
However, there is something on the auction website that suggests that the reserve price is usually no more than 10% above the guide price. So it could be as low as £1.65M. I bought a property at auction on Friday for the first time. I was told the reserve was usually 10 percent higher than the starting bid and that's what I paid. But I reckon this will fetch quite a bit more, but what do I know? Nuffin.  This is another I get out of quite early, thankfully.
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puddleduck
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Post by puddleduck on Feb 4, 2018 15:22:11 GMT
I've bought several houses at auction (I'm a bit of a regular on Homes under the Hammer, usually hiding at the back!), and the reserve cannot be more than 10% higher than the guide. Having said that, there may be no reserve, or the reserve may be lower than the guide - I've bought several properties below guide price, I've never paid more than guide + 10%. This one is a bit out of my price range |
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poppyland
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Post by poppyland on Feb 4, 2018 15:36:33 GMT
So what I would like to know is what has the borrower done with the 3.5M he was lent by all of us little P2P investors? That's a lot of money to just walk away with.
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Jeepers
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Post by Jeepers on Feb 4, 2018 15:46:07 GMT
How much did the borrower pay for It?
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poppyland
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Post by poppyland on Feb 4, 2018 15:52:48 GMT
I think one of the newspaper articles said 1M. Or am I getting it mixed up with the muddy fields in Oxfordshire.
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Jeepers
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Post by Jeepers on Feb 4, 2018 15:56:15 GMT
Surely they wouldn't lens a surplus of 2.7m (or 370% of the PP) upfront on a PBL ?
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Post by picanto on Feb 4, 2018 18:50:46 GMT
What I want to know is, how can the valuation of the property be £4.9 million but only have a guide price of £1.5 million at auction? That is below 33% which is outrageous! All I hope is that guide price isn't an accurate guide otherwise Lendy are screwed as investors head to the exits and I'm not even in an investor in this loan.
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hazellend
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Post by hazellend on Feb 4, 2018 19:41:28 GMT
Not only that. Lendy sold this to investors as an 11%er based on the fact it was safer and used the photograph on all their emails for some time
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ingwer
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Post by ingwer on Feb 5, 2018 15:17:12 GMT
The Sun has a feature too...
"The castle, which has been dubbed W****’ D****** A****, is on the market for less than a three-bed house in London.
W******* C*****, worth more than £5m, has been dubbed W****’ D****** A**** and is on the market for less than a three-bed house in London."...
Watch it fly on Auction Day now The Sun's readers are aware of it.
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Jeepers
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Post by Jeepers on Feb 5, 2018 15:46:21 GMT
Can someone explain this from the article in the D**** M***?
'.......sale also included a 16th century dovecote building, a three bedroomed lodge, and eight acres of land on its estate.
But the sale has now been stripped back to include just the former c*****, and its market price scaled back ......'
What happened to these other buildings and are they being sold separately in addition to the £1.5m castle?
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duck
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Post by duck on Feb 5, 2018 16:39:14 GMT
Can someone explain this from the article in the D**** M***? '.......sale also included a 16th century dovecote building, a three bedroomed lodge, and eight acres of land on its estate. But the sale has now been stripped back to include just the former c*****, and its market price scaled back ......' What happened to these other buildings and are they being sold separately in addition to the £1.5m castle? See FS for the l...e and also the r.....g s..... both defaulted.
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guff
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Post by guff on Feb 5, 2018 17:05:55 GMT
<snip> the former c***** <snip> Presumably, the OP ( cooling_dude) needs to redact the thread title as well.
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guff
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Post by guff on Feb 5, 2018 19:27:10 GMT
Large Fortified House - LFH… next stage on from LOL allegedly.
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GeorgeT
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Post by GeorgeT on Feb 6, 2018 21:42:43 GMT
The Sun has a feature too... "The castle, which has been dubbed W****’ D****** A****, is on the market for less than a three-bed house in London. W******* C*****, worth more than £5m, has been dubbed W****’ D****** A**** and is on the market for less than a three-bed house in London."... Watch it fly on Auction Day now The Sun's readers are aware of it. As one of the poor souls who has a bit of cash stuck in this one, I have to say I'm delighted to learn that The Sun has brought this property to the attention of its readers. I'm led to believe that many Sun readers aren't particularly well endowed in the brain cell department so this publicity amongst the t*ts and bums must increase the chances of us finding a buyer willing to shell out £3.5 million for this property.
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