Another Example

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Brigade77

• 17 Nov 2019

• #1

I know a few subbies who worked on this estate & to claim that it was totally unforeseen is a joke. These houses are now virtually worthless. I went to look at it with my lad years ago & we just could not believe that anyone would ever contemplate living so close to that cliff.

£Millions will have to be spent stabilising that cliff face to make it acceptably safe.

Where will this £money come from . . . . While the developer sleeps soundly in his bed.

https://www.nottinghampost.com/news/local-news/council-says-mudslide-mansfield-completely-3541579

Some of the comments are slightly warm, not even close to the whole truth

 

motorbiking

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• 17 Nov 2019

• #2

Buyer beware.

The council would have had limited powers to stop the build. The developer chances his luck that buyers and surveyors wont highlight the risk, the sale price should account for it.

People really need to be more involved when buying a house. One reason I opted not to buy my last acquisition in ventnor was because pretty much all the houses are carved out of a cliff and there is decades worth of shoring up evidence.

 

B

Brigade77

• 17 Nov 2019

• #3

I've never bought property this way before but I understand that the developer will steer the buyer into using selected surveyors, solicitors, mortgage provider etc etc all controlled by the developer . . . . All promoted by those brain dead children working the showhomes.

 

B

Brigade77

• 17 Nov 2019

• #4

Rightmove has fairly accurate values for these houses but lets say a conservative average of £140k per property.

30 properties at £140k = £4.2million.

For what? These types of housing probably aren't milking benefits so lets assume they all pay council tax at an average of £1500. 30 X £1500 = £45k

 

motorbiking

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• 17 Nov 2019

• #5

I bought my first place that way. Solicitors code of conduct would limit them from acting in any way other than the clients interest. But still they rely on economies of scale to get a bargain price including no doubt a nice commission for the show home rep.