can anybody explain what this term means... is it a sure thing and is it legal...

lets hear from the experts out there

My understanding is that it means to buy a property with the intention of spending as little on it as possible, but selling it at a profit. Think Anne Maurice on House Doctor!

K x

It is when someone puts down a deposit on a new property before it is built (off plan) and then sells it on before they complete on it- thus saving on stamp duty and buying fees and hopefully making a decent profit. Obviously they have to pay for some legal work.

This was popular for the last few years but not so much now as
prices are not rising and some are dropping!

Yes, it is legal.

Who says that prices are not rising.
Looking at interest in houses at the moment, the vendors cannot fit all the viewings in on a weekend and are having to spread them out through the week.
There are so many different opinions on what is happening to the price of propertyIt is more talked about than the weather at the moment.!
There is certainly a shortage in certain areas of decent property on the market so when one does come on the market new, everyone rushes to see it and this pushes up the price.

Originally posted by espadrille
Who says that prices are not rising.


I don't want to get into a debate about prices.
My point is about new build. Builders are offering incentives to buy properties that are almost built to shift them. Therefore if you bought earlier off plan then you will probably have secured
the property at a higher price.
You have taken my remark out of context.

Vision,

"Therefore if you bought earlier off plan then you will probably have secured the property at a higher price"

is sooo not true!!!

I purchased my apartment off-plan in May 2004- the price of it has now risen so much that I wouldn't be able to afford it if I was still looking to buy today!

See: http://ourproperty.co.uk/. Check out any of the new build properties dotted around Sheffield (for e.g.):

West St apartments
Norfolk Park 'Park Grange' properties
Bellways 'Parklands' development (for e.g. Fretson Rd/Close etc, Wulfric Road, Queen Mary Road)
etc...

See what these places were selling for in 2001-2003 and see what they're selling for now!

Lib1

Originally posted by Lib1
Vision,

I purchased my apartment off-plan in May 2004- the price of it has now risen so much that I wouldn't be able to afford it if I was still looking to buy today!
Lib1


I think the relevant words there are 'May 2004'. Thats my point.
you could make a profit last year - much harder now. There have been some threads here recently where people have expressed their worries about off plan and posted about new places that have been reduced.

take this as an example.....

Say i bought an apt in city centre off plans today and it cost for arguments sake 140k.. Do you think that is a realistic price? Do you think it could be 'flipped' for a tasty profit in 12 months time

let me know your opinion pls

Originally posted by Maverick74
take this as an example.....

Say i bought an apt in city centre off plans today and it cost for arguments sake 140k.. Do you think that is a realistic price? Do you think it could be 'flipped' for a tasty profit in 12 months time

let me know your opinion pls

If yours was the only flat on the market, but there will be hundreds by the end of this year, some perhaps cheaper than yours.