I enjoyed watching Property Ladder, as it normalized the practice of flipping properties, and sort of presaged the GFC in 2007-08 if you want to see it that way, where hyper-property flipping and the mortgage lenders really came under scrutiny big time if you know what I mean. It's encouraging seeing people want to climb the property ladder at whatever cost possible.
I wondered about the technical aspects of the property purchase in Property Ladder, because we saw a shot of the contestant scouring the newspaper (before news online became popular), circling it with a pen, and buying the property before the commercial break. But it can take a month for the conveyancing details and so on, so my guess is to facilitate the narrative, the contestant bought the property "in principle" and at the auction the original owner was still the legal owner. But I stand to be corrected.
I wondered about the technical aspects of the property purchase in Property Ladder, because we saw a shot of the contestant scouring the newspaper (before news online became popular), circling it with a pen, and buying the property before the commercial break. But it can take a month for the conveyancing details and so on, so my guess is to facilitate the narrative, the contestant bought the property "in principle" and at the auction the original owner was still the legal owner. But I stand to be corrected.
