adrian77
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Post by adrian77 on Apr 2, 2020 14:51:34 GMT
agreed but I think there will be a lot of other expenses e.g. security, council tax? , maintenance ,possible structural surveys which believe me aren't cheap- we all remember the South Wales Hotel with a complete array of rip-off charges.
Well this is certainly an interesting one - I am still bloody furious FS never mentioned there was a problem with the roof!
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rogerthat
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Post by rogerthat on Apr 2, 2020 15:24:38 GMT
Is council tax payable on non occupied properties ?
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Post by Ace on Apr 2, 2020 15:57:46 GMT
Is council tax payable on non occupied properties ? I think that the answer is generally yes, but not under certain circumstances. I'm managing the sale of my late mother's house, which is now empty. They allowed me 6 months of no council tax while dealing with it, which they later extended to 12 months as it was on the market and still empty.
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adrian77
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Post by adrian77 on Apr 2, 2020 15:59:16 GMT
from HMRC I have had the odd ding-dong with the council regarding council tax on my renovation properties- not so sure what the situation is here so maybe somebody who has done similar work in Liverpool can comment - I thank you
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rogerthat
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Post by rogerthat on Apr 2, 2020 16:27:52 GMT
Well IIRC wasn't this an ex council property..if so maybe they would be lenient
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rocky1
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Post by rocky1 on Apr 2, 2020 16:53:20 GMT
property is usually exempt if undergoing major repair work to make it habitable or is undergoing structural alterations.i havent got a clue where our pile of concrete fits in.
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adrian77
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Post by adrian77 on May 27, 2020 19:50:33 GMT
Posted origiinally in wrong thread - Formby
I am in this one and wondering why we have not had any recent updates - I note this was first withdrawn from auction over 2 years ago...
Latest update is nearly 2 months old
02/04/2020
The Receivers have now concluded their marketing and recommended an offer for acceptance of £**.* million. Given the supporting evidence to substantiate best price a sale is now progressing at this level. We await further updates from the Receiver.
well this is more than I was expecting which would be good news for me as it wouldn't be a total loss for me and it would be nice if just one of my zombie loans returned some money!
However we have been down this road before with at least 2 buyers pulling out - it is a common practice in the developing world to get the foot in the door and then force the price down - to be honest I have done this myself once or twice...
But we have
Exchange did not take place as expected mainly due to the fact that we experienced significant issues with the flat roof that failed in November 2016.
Just what the hell does significant issues mean! I am no structural engineer (you should see what I pay mine!) but I am sure most flat roofs are an integral part of the building structure - and the commissioning report alone would cost many thousands let alone remedial work at height- the cost of which just does not bear thinking about. In fact I would not be suprised if the cost would make this project unviable - maybe the council sold it off cheap for a reason as their building experts knew what they were doing - hello property experts FS - organic growth - it's a process...
However an update would be nice - I thank you - stay healthy.
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aj
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Post by aj on Aug 13, 2020 6:59:02 GMT
My loan parts are now 1000 days old!
Any bets whether they make it to 1500 days?
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adrian77
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Post by adrian77 on Aug 13, 2020 7:24:40 GMT
have checked the updatea:
0*/07/2020
The receivers requested best and final offers from all interested parties, which resulted in five offers being received. The highest of which was £8**,***, with proof of funding being evidenced. This offer carried recommendation from the receivers and has been accepted. It is anticipated that completion will take place in the next six weeks.
Hopefully this will complete within the next 2 weeks? - that said it would be nice to be told exchange has taken place - if not I would not rule out 1500 days
To be honest I think there is a major problem here as we keep getting buyers that pull out - one explanation is that there is a mega problem with the construction and the property is not structurally sound so fingers crossed this damn thing does actually sell!
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sundown
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Post by sundown on Aug 13, 2020 10:52:06 GMT
I've just checked and the last update showing is 2nd April and I certainly haven't been informed of any other update. Are you sure you've got the right one Adrian?
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adrian77
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Post by adrian77 on Aug 13, 2020 11:19:29 GMT
Sorry you are right - pasted the wrong comment from the Formby flats - but comments are the same
actual price disguised for privacy - hopefully this one is still going ahead but it is a long time since April - as I said would be happier to hear they have exchanged...
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bugs4me
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Post by bugs4me on Aug 13, 2020 12:03:46 GMT
My loan parts are now 1000 days old! Any bets whether they make it to 1500 days? aj - oh that's just a junior in the overall scheme of things.
The W***h H***l loan is now running at 1833 days. But no worry as I'm due a tidy 5 grand plus in interest alone.
The only positive (for me) with the whole FS fiasco is that overall I'm ahead of the game at 4.5% IRR - and that's what it was with the muppets running FS - a game using other folks hard earned cash.
Getting out as much as I could, apart from the WH loan, was pure luck on my part. I pity those that are or is it were not so fortunate.
It's a (not) funny coincidence how when there are limited funds in the pot, administrators/receivers/liquidators get things finalised extremely fast and when there are funds available (for them) then........
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r1200gs
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Post by r1200gs on Aug 19, 2020 11:47:10 GMT
I would have thought this would have been concluded by now. I'm in the first charge so fingers crossed.
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adrian77
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Post by adrian77 on Aug 19, 2020 17:58:11 GMT
Hopefully but considering we have had at least 2 (?) failed sales as I not convinced this latest sale will proceed.
To be honest and with no evidence whatsoever I suspect there has been a mega horlicks with the roof and this why this block has not sold - in fact maybe the council knew this building was at the end of its life and that's why they got shot of it! Yes councils aren't always totally incompetent!
As to whether this developer knew this but shafted FS regrdless I could not possibly comment but a sale has been ongoing on since 2018
Look forward to be proven wrong as I am in this one...
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r1200gs
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Post by r1200gs on Sept 3, 2020 10:46:15 GMT
Still we have silence....
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