Homes Under the Hammer buyer refuses to sell despite whopping valuation for heartbreaking reason
A PRESENTER from Homes Under the Hammer was left in shock when a property owner decided not to sell a house even though he would receive thousands of pounds for it.
Ray proudly showed off the chapel of rest he transformed on the BBC One show, before revealing why he didn’t want it put back on the market.
Once the property developer got permission to change it into a place of residence, he got to work, completely remodelling the building and adding in a small garden.
Ray is a qualified gas and electrical engineer so he was able to flip the house himself over the course of ten months by chipping away at the project during weekends.
This meant he only spent £15,000 on renovations, compared to the £50,000 he had originally budgeted.
After showing presenter Dion Dublin around the property, an estate agent came on Homes Under the Hammer to let Ray know how much he could make if he sold the place.
His jaw dropped when he heard that he could make a pre-tax profit of £144,000.
And if he decided to rent out the property instead of selling it, he would receive £850 per month.
A delighted Ray exclaimed: “Oh, what news! What news is that! That is amazing. I wasn’t even close to that valuation.”
Despite the huge potential windfall, Ray confirmed that he had set the house aside for a more altruistic cause.
He told Dion that his community had given him so much, he decided to repay them by turning the property into an assisted living home.
There was a shortage of them in his local area, and he wanted elderly patients to have a good living situation at the end of their lives.
With that in mind, the whole home was designed to be wheelchair friendly.
Each bedroom also featured another smaller room which would belong to a nurse for those who need round the clock care.