whats the catch

timetogetfit

2 bedroom apartment for 65k, there has to be a catch?

http://www.daft.ie/searchsale.daft?id=525991

dayshah

Daft gives €125k as the average for a 2-bed.

Its well below this. Maybe the sellers are trying to attract some interest, and it will be 'bid' up. Maybe someone inherited the property and wants a quick sale. Maybe the building needs some structural work. Maybe they have debts to settle. Maybe they are just realistic about what they can get.

They say it gets €6,000 a year rent. That probably works out at €5,000 profit. So if someone expects a 5% return it would be worth €100k. If someone expect a 7.5% return it would be valued at €75k. And rents will most likely come down soon. My guess is the people are being realistic about its worth.

Best thing to do is ask the auctioneer why.

mike65

Have you looked at comparible properties/others in same block? It could be a typo

ToxicPaddy

Have to agree with Mike here, could be €95k and they made a typo or else its someone up to the neck in debts and looking to offload quick..

There are other possible reasons but I dont want to jump to conclusions..

ToxicPaddy

Then again.. this one looks in great nick with a decent back garden..

www.daft.ie/1538756

and another one at that price

www.daft.ie/1532627

So who knows..

Cabaal

You'd be better off with the house over the apartment imho

wellboytoo

the catch ,,,,,, try a get a mortgage !!!!

ToxicPaddy

Ahh easy to get.. all you need is..

• €250k+ in the bank
• No loans
• No Car finance
• No credit card bills
• 100% perfect credit rating
• Guaranteed job for life earning €100k+ a year
• Both parents, grandparents, nextdoor neighbour and the dog going guarantor on it..

Tis simples.. :p