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Going to Auction...A Word of Warning

12/11/2018

26 Comments

 
As we’ve mentioned, our adventure with Jameswood started when Claire declined her offer to medical school. Now we had a whole year ahead of us with no plans. We wanted a new challenge, and decided flipping a house together would be a fun and rewarding experience.

We decided to look at auction properties, and after doing LOTS of research and making a site visit, Cal attended an auction in early October to bid on a particular property (not Jameswood Villa.)
Jameswood Villa was being sold as 3 separate units in the prior lot to the property we were interested in. However, the auction booklet didn’t mention 3 seperate sales, so when Cal placed a bid, he thought it was for the Glasgow property we had wanted.


When Cal realised, the panic set in, and he left the auction house to call me and let me know what had happened.


Quickly looking up the property, Auction House Scotland had described Jameswood Villa, Sandbank, Dunoon, PA23 8PN as in need of "full upgrading throughout", and presented with a Google Streetview image that was last updated in 2010.


We could manage full upgrades, and the photo looked alright.
​What could go wrong? 



Picture
8 year old photo used to advertise Jameswood Villa.
A foreword before continuing: Cal and I are extremely happy and excited to be taking on Jameswood. Take this as a warning about the risks of buying a property at auction, but NOT as a warning against pursuing your dreams or goals in life.


When Cal first went to visit our newly acquired property, he realised the house needed a LOT more than the upgrading ​than we were imagining.
​


The photo presented by Auction House Scotland was conveniently angled to exclude the cracked stone on the bay window, and the leaning, crumbling front wall that indicated serious structural problems we’ve now found out are due to subsidence. The roof had gaping holes, and having been left empty for 20 years, this had allowed most of the timbers in the building to rot.
​
We soon realised this project wouldn’t be financially feasible if we weren’t doing the project ourselves, or if we needed a steady income to pay for overhead costs like a mortgage or rent.
​
Upgrade, verb: Raise (something) to a higher standard, in particular improve (equipment or machinery) by adding or replacing components. – Oxford Dictionary.
​


When I think of upgrading throughout, what comes to my mind is a home in need of new electrics, plumbing, kitchens and bathrooms and energy efficient improvements. I’d even describe a roof replacement as an upgrade. Apparently, however, “upgrading throughout” is what Auction House Scotland sees as an honest way of describing a derelict house with serious, visible structural problems; ones that the council has described as dangerous.

Cal and I have often pointed out derelict buildings while driving through Europe, and saw the great potential they had to be turned into beautiful homes. Jameswood isn’t the quick flip we imagined our first building project to be together, but it is a challenge we are excited to undertake.

As was mentioned, we’d love our story to inspire others to go after their dreams, even if they are as grand as restoring a dilapidated old house. But it’s always wise to learn from your experiences, or better yet, the experiences of others! Cal and I have certainly learned to be very careful and attentive at auction, and ascertain that we are bidding on the correct property! We recommend that if you’re thinking of going to auction, always read the legal documents and make a site visit before bidding.

​
Like with many things that happen in life, our experience at auction was a classic example of the phrase sh*t happens. And now we’re attempting to turn that sh*t into a beautiful home. What have we Dunoon?

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Join us on our journey.
Creative Commons License
What Have We Dunoon Blog by Claire Segeren is licensed under a Creative Commons Attribution 4.0 International License.
Based on a work at whathavewedunoon.weebly.com.
26 Comments
Peter
12/12/2018 10:12:20 am

Nice photo of you and Cal in front of the money pit.
Are those yellow wellies the ones from Florida.

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Claire
12/17/2018 07:13:33 am

Yes they are! But I'm afraid they have recently started leaking! It may be time for a new pair of brightly coloured wellies.

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Nicky
12/17/2018 03:52:55 am

You’ve certainly got you’re work cut out there. I was the last person to live there after stupidly buying the place. The things we had to do when our upstairs neighbour passed away to stop the water coming into ours,from placing padding pools in his sitting room then finally his bath as the ceiling coming down kept ripping the pools. Wishing you all the best with your project.

Reply
Claire
12/17/2018 07:00:29 am

Hi Nicky! We were wondering about that bathtub! It was still there when we got to the place, but we moved it promptly because the timbers are so rotten. We were worried it would fall right through the floor!

Thank you so much for your well wishes!

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Peter
12/19/2018 04:30:50 pm

It seems that one owner single handedly caused the building to have to be abandoned.

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Nicky
8/29/2019 01:51:20 am

There were 4 owners 2 of whom died and the top right flat was empty the 7yrs I lived there.

cheryl
3/6/2019 07:31:05 am

I've driven past this old house hundreds of times and every time I wondered what would happen with it. I can't believe you've bought it by accident. I wish you the best of luck and although I'm usually all for conserving lovely old things, this task looks monumental! Have you wondered about trying to get a TV show interested in helping? You might lose some control over the project, but I'm assuming they pay a fee, which would be helpful. I think you're both very brave.

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Claire Segeren
3/8/2019 08:00:03 am

Hi Cheryl!

Thanks so much for your well wishes!
Ahaha I always joke that we should get the project on a tv show, some tv magic would really help to get the house finished! But until we're "discovered" I think we're just going to have to carry on working away at it - bit by bit!

I don't know if it's bravery or stupidity! I guess only time will tell.

Reply
Jobekah Trotta
12/1/2019 04:42:34 pm

Listen kiddos you have a lot of heart and nothing you are doing is "stupid". Challenging yes, but what the hay...I believe if you contacted some.
Here is a place that you can start...Scotland wants project people....find out the where, how and when....https://www.scotsman.com/lifestyle/homes-gardens/scots-wanted-for-new-property-renovation-tv-series-here-s-how-to-apply-1-4948690
ya never know.
I send positive energy to you and all that you do. You are such a sweet couple.

Reply
Karamea Falwasser
3/18/2019 04:30:39 am

I believe this was a beautiful fate to buy this unexpected property.
Love a adventure. And yes, would love renovations, also watching restoration of old buildings. My mentor is Cheri Barber 'Renovating For Profit' Well done on your buy. Keep posting. Cheers from Australia.

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Tammy Fahrendorff
6/3/2019 08:31:01 am

Thanks for sharing your journey with us! Blessings to you both!

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Tünde Vágvölgyi link
8/28/2019 01:48:04 am

Hi Clair, I've just read an article about your "fail" in buying a new house, and immediately I searched you on the internet :) Horrible pictures, but I am happy that you didn't give it up! I would be very glad to see some updated pictures and of course to know fresh info about you. I wish the very best to you, and also to the people in Dunoo: they are also fantastic! <3

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Susan
10/7/2019 09:02:46 am

I would love it if you video the progress & put it on youtube. You can generate an income from a youtube channel too.

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Adrian
12/31/2019 10:19:46 am

Hello! Love seeing the progress on instagram! You both are so inspiring. Just read over how it all started and had a question - it sounds like you are redoing the whole building, but the story makes it sound like you only bought 1 of 3 portions. Can you please explain more?

Reply
Claire
1/7/2020 02:18:46 pm

Good question!
https://www.whathavewedunoon.co.uk/blog/who-dares-wins
this blog explains the whole story!

Reply
Marion
5/17/2020 10:44:49 am

I enjoy following your progress on Instagram. The place is coming along beautifully.

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Bridgette link
11/5/2020 07:27:27 am

I think what you’re doing is great, and very challenging. My hats off to you. It’s definitely something I would’ve taken up when I was younger. I wish a TV show would get involved. Maybe not now, but after you have a house under your belt. It would be a hoot if you randomly selected three from an auction house and had to choose one. For what it’s worth here in the heart of Texas, USA cheering you on.

Keep up the good work with social media it’s the best way to get recognized.

Reply
Alistair Young link
4/7/2022 05:57:44 am

Hi I read the intro to your article I'm sure auctions are not a challenge everyone would take on. After all there are reasons why properties are offered this way your taking a higher chance. When I look at properties in Europe I would steer away from wrecks not your fault! that's the only way now in u.k. of buying cheap most of the time. If I had a choice in Europe I would always buy completed or nearly there as their are so many things that can come up on a property that you can't budget for it's only when you come to do the place up you find out those expensive problems arising. A new roof is a quarter of your budget that can't actually see without getting into the loft space. Also I don't usually trust builders I've worked for a few!. I'm now retired from decorating and often thought on a place in Europe for myself to work on but haven't seriously made an offer. A new country means new laws to get around and can lead to agents selling you property that can be illegal build no sewage system, No connection to utilities that are too far away. The list is endless and I think you have to be young to do it yourself.

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