Land banking re-sale

Mar 02, 2014 2 Replies
T

See:



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8 Given the complete absence of any access to these plots this looks suspiciously like someone has got "caught" in a land banking scam and is looking to offload their dud purchase to another mug



I'm surprised that a legitimate auction house would get involved in this, but they have (and it's not the first time that I've seen it).



The auction house does not seem to make any claims for the land, but even so, most purchases will expect minimum rights to use the land without being specifically told that they have this, and I doubt in this case that you do



tim


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D

Wouldn't it be better to warn the auction house?

In any case, my impression was that land generally only went to auction if there were some problem with it, and there is a very high buyer beware burden on land auctions.

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T

Wouldn't it be better to warn the auction house?

In any case, my impression was that land generally only went to auction if there were some problem with it, and there is a very high buyer beware burden on land auctions.

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FWIW, plot 1 went for 2 grand (wtf)

and the other five went for 50 or 75 quid

thinking about it, plot 1 was probably shill bidding on behalf of the owner in order to make the room think these were lots worth bidding on

obviously didn't work (why would it? it's a room full of "professionals" and individuals who have come interested in one lot only)

tim

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