Homes Under The Hammer Estimates Before And After

[barnaclebill58]

I've noticed recently that quite a few times the estate agent says that when done up the house should sell for , say , £120 000. The person pays over the odds and is in for ,say. £130 000 . But lo and behold the house is now worth £150 000. Trebles all round as Private Eye would say. I know that the market generally may have risen but does anyone every make a paper loss? The figures always say before expenses etc and stamp duty , legal fees, estate agent fees must take out a fair chunk.

[emmie]

i like the programme and have watched it many times, they work wonders on derelict or mostly run down properties. They should make a profit if not why do it.

[barry1010]

I watched one of these programmes recently, not sure if it was Homes Under the Hammer and the buyers did make a loss.

[emmie]

i have only seen ones where they made a tidy profit. Often flipped the properties, to sell on

[DarceyK123]

Yes, i do like the program but they do gloss over a lot of financial stuff.
EG: they will say "Dave has made 10k on this house" but in reality, once all the fees and taxes are paid he will be lucky to make a profit at all.

[THECORBYLOON]

I seen one episode a few year ago when a house was bought, about £20 was spent on cleaning products used over one weekend and the house was selt the next week at a profit.

[MargoTester]

To be fair Darcey every time I've watched it, which is regularly, they mention that the profit is less taxes and fees

[barry1010]

Selt? Are you Irish, Corby? :D
I've just remembered it wasn't Homes Under The Hammer I watched. It was two strangers buying a house in auction and having to do it up in a set period on a set budget and then sell. They had to divide any profit between them. Very odd concept

[DarceyK123]

Barry, that was The Great House Giveaway with Simon OBrien, the costs and fees were incuded in that one so most of the couples made a loss.

[barry1010]

Thanks, Darcey, I only saw the one episode. It was hilarious, the central heating boiler, radiators, bath, toilet, sink, worktops were all in situ but not connected to anything. The two people had too many holidays to get the job done in time

[Ken4155]

Used to do a lot of decorating for a local landlord who would buy rundown properties at dirt cheap prices, spend anywhere between £8 - £10 grand on them, then rent them out. At one stage he had about 80 houses on his portfolio.

[emmie]

many of those of the programme are property developers who know what they are doing. Some have many properties on their books, if it wasn't profitable after fees and taxes they wouldn't do it