General (main property discussion here) - More than one in block!

I'm looking at flats in Scotland and have found some rather cheap ones which would rent out quite well, but there seems to be 4 in the same block all for sale!

Anyone know what might be going on here? Do you reckon its a bit of a clue that something bad is about to happen to the area? Should I stay away?

Your thoughts would be appreciated!

Thanks Simon

Hi Simon

Is it all the same vendor, or are different people all selling up do you know? How many flats are there in the block in total (what prortion are for sale)?

If you ask the vendor if there is anything detrimental happening in the area, they have to either tell you to find out for yourself (in which case stay well clear!!) or tell you the truth, otherwise you could sue them in court if you buy and something nasty turns up...

You could always request a sellers pack, which would require full diosclosure I gather. HAs anyone ever had one of these?!

All the best

John

Simon, Do your vigilance by all means but as a point of interest I have recently purchase a block with 5 units in & have been v pleasantly surprised at how easy it is to manage given basic ground rules. The guy I bought from had 4 similar properties to sell and was simply cashing in after 20 years growth. He has retired with a B good nest egg and I'm not doing bad either!I wish I had bought the lot..

Thanks Guys.

Are sellers packs in force now? I havent come acroos them in Scotland yet?

Actually looking at it again, there was 3 in the same block, but there was about 16 in the block that I could see, but there could be more, as its like a "terraced" block of flats..

I'll ask the agent the reason for the sale and if there is anything detrimental happening in the area. It looks like one person selling them all.

Simon