Harringay, Haringey - So Good they Spelt it Twice!
We are looking to buy a house on the ladder - Were under offer and looking hard!
Hi
Just wondered if anyone is thinking of selling up on the Ladder or nearby, we'd love first refusal.
There are a few on sale that we have viewed but lost out due to cash buyers.
I thought the direct approach is worth a try.... were under offer and ready to exchange soon, but the one we had hopes on fell through.. happy to go through your estate agent or other wise.........
We are happy to consider refurbish projects too. We are a small family of three and hope this times well with your plans.... If you want to message me, to discuss off line feel free.
Thanks
Dee
Replies to This Discussion
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Permalink Reply by John McMullan on
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I spoke to an estate agent in April who said that he had lots of local landlords with millions of pounds in cash desperately looking for opportunities. If you have a million pounds, the safest place for it is as a house. I'm sorry to bring you this news but that's what's happening.
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Permalink Reply by AlexConx on
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There are lots of properties in Wood Green and not too difficult to buy atm as far as I know. not very far from the ladder, getting better and you can get more for your money...
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Permalink Reply by L F T Snowflake on
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And is anyone checking where this cash is coming from?
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Permalink Reply by Dee on
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doubt it.
Some are people downsizing to ladder houses, inheritances.
who knows where the rest money come from.....
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Permalink Reply by John D on
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And how would you propose to do that ? Who do you suggest should be doing it ?
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Permalink Reply by Michael Anderson on
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Checks are supposed to take place under money laundering regulations.
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I have been an approved FSA/FCA Money Laundering Reporting Officer (CF11) for 15 years.
The first question is what is "cash buyer" in this context? I don't expect it means someone who shows up with a suitcase full of bills although I have heard anecdotally of that in Italy. Imagine ~£1m in cash--I freak when I carry a thousand!!! So it's not likely that and if the seller showed up at the bank with that much in bills a notification to the government would immediately go out. We file them all the time.
I would think it means they just pay across 100% of the price out of their own bank account. That is not as red flag as cash but could still be a laundering. As a financial services firm we have to enquire into source of funds; I don't think a private seller has to do so, I would have to check the regulations. I've seen my share of swindles and the short of it is you will know it when you see it--unless you want to turn a blind eye. The banks, like all regulated firms, only do checks when someone is (asking to be) their client. If I tell my bank I am going to receive a million pounds for my house they would likely be fine with that.
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I didn't realise the Ladder was a "downsize" area! For me at least it's as upsize as I'll ever be able to go--and I am thankful for that.
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I saw a south terrace on Seymour Road for sale. Knowing then what I know now that is the street to buy on as it gets the lowest traffic of the entire Ladder. However, that said, this may change per the Green Lanes Traffic Study. I would be more interested in following that matter were I you Dee than where the best sun is--just one person's opinion of course.
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Hi Dee, we are selling ours - I have sent you a connection request to share details.
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Permalink Reply by E. F. Salzman on
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Have you found somewhere? If not let me know.
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