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in this country the general behaviour is to do up a place to sell, and everybody on the seller side gets a cut on this "effort". It maintains low standards in construction as tradespeople make design decisions. There aren't many of those properties, and if there are, they won't be advertised / will be sold ahead or very quickly to cash buyers/investors.
I maintain, in the long run, if you can get your hands on it and negotiate well, you will get a better deal. not by a massive amount probably if you want high standard, but at least you choose your own specs
Glws-
Ours was renovated by the seller, who is a builder, prior to us buying it. Most of the work is "ok", and passed the structural survey anyway, but a lot is quite bodgy and clearly done by a jack of all trades. I guess they spent 10k excluding self labour and upped the price by 40k. I really would have preferred them to leave it and just inflate the price.
Backstop
May be different elsewhere, but in London this really doesn’t seem to be the case. Places that are in good condition certainly sell faster, but prices on equivalent run down places are rarely low enough to account for the cost of the work necessary to get them up to the same standard.