Chinese investor house buying scam

How much is it ?
You could try the auction - nothing to pay if it doesn’t sell and pretty much guaranteed payment within 28 days if it goes.
Loads of agents acting for Chinese are buying in the auctions.
 
Chinese investors are buying up these properties via agents and middlemen as if they own foreign property they get different travel visas back home. It is a legit thing in that thousands of uk buy to let type properties have been sold this way over the last 10 years or so, its often the cheaper the better. But its also rife for chancers and time wasters as these middlemen commit to buy and then look to engineer a sale to the real investors. I know this as i was involved in a failed apartmement scheme deal were we (the lender) got out by agreeing a deal via agents with one of these groups who managed to find 20 buyers for some scruffy apartments in north Manachester - it took them less then 3 months and they all paid the full asking price. It was a result for us and the developer in the end.
 
mikey4 said:
How much is it ?
You could try the auction - nothing to pay if it doesn’t sell and pretty much guaranteed payment within 28 days if it goes.
Loads of agents acting for Chinese are buying in the auctions.
Click to expand...
In my experience sellers can do very well at auction. I've had a dabble a couple of times as a buyer and the properties I've been interested in have gone for much more than I've been prepared to pay on each occasion.
 
mikey4 said:
How much is it ?
You could try the auction - nothing to pay if it doesn’t sell and pretty much guaranteed payment within 28 days if it goes.
Loads of agents acting for Chinese are buying in the auctions.
Click to expand...
It’s on for offers over £130k. Auction seems to have lots of positives!
 
Last auction a 2 bed tenanted terrace was guided at 59k the house is a dog it ended up going for £99k had to be someone who had never seen it.
 
You will find they put offers in on numerous properties at once and just go fir the best deal at the end of the, happens a lot with the Chinese
 
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