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I'm Buying A House


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#31 Bloo Loo

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Posted 30 March 2012 - 09:47 AM

How does it cost £20000 to move?

I have:

£2250 stamp
£1000 legal
£1000 removal
£500 survey

- £1000 as I get my deposit back for here.


£8000 private mental health recovery plan
WARNING

Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it





#32 Bruce Banner

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Posted 30 March 2012 - 10:04 AM

...you don't buy your neighbours, or their barking dog......there was a sign outside the home of a person that bought a house near a school, 'please ask your children to refrain from screaming'....or the person that bought near the church but realised not long afterwards they hated the sound of the church bells. ;)


Or the jokers who buy a house near to an airfield and immediately campaign to get it shut down.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#33 MrPin

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Posted 31 March 2012 - 08:00 AM

Hi Bolton! I saw a lot of over-optimistic sellers who just wouldn't budge on price, even for a place which required approx £20k of work! :blink:
Ignorance can be cured! Stupidity cannot!

#34 MrPin

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Posted 31 March 2012 - 08:23 AM

Also got told yesterday, on a house we didn't actually want, that the vendor can't take less than £205 as that's what they paid for it.

I did have a little laugh and felt very sorry for her as she enters a shitstorm that's from her worst nightmare.



Yes, there's a lot of that "what I paid for it!". Look for sellers who have been there for years! They will not have this problem! :huh:
Ignorance can be cured! Stupidity cannot!

#35 satch

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Posted 31 March 2012 - 10:11 AM

Yes, there's a lot of that "what I paid for it!". Look for sellers who have been there for years! They will not have this problem! :huh:

But don't forget the classic retort; 'I'm not giving it away.'
George Osborne July 2013; 'I don't think in the current environment a house price bubble is going to emerge in 18 months or three years.' Mark Carney September 2013; ' ... there has been an improvement in prices and activity (talking about the housing market) Osborne to cabinet as quoted in the Indie October 2013; "Hopefully we will get a little housing boom & everyone will be happy"

Osborne says; “Printing money is the last resort of desperate governments when all other policies have failed.”

George Osborne December 2008; “Savers and pensioners are the forgotten victims … They are innocent bystanders and it’s simply not good enough for the Government to walk on by."

In his 1997 Budget speech, Gordon Brown said, "I will not allow house prices to get out of control and put at risk the sustainability of the future". He went on to say that he did not want a return to "instability, speculation and negative equity" of the 1980's and 1990's.

#36 Number79

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Posted 31 March 2012 - 10:17 AM

But don't forget the classic retort; 'I'm not giving it away.'


and the reply...."No, not to me, adios!"

#37 Number79

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Posted 31 March 2012 - 10:22 AM

Agreed. Been renting since 2007.

Might stay that way. Saw a house yesterday we really liked. It was bought in 2008 for £174 and then extended to provide another double bedroom and reception room. 4 beds in total. Now on at £220. I'm not really sure how much an extension costs but I guessed at 25k, so we contacted the EA to say that if we moved forward on he property it would be on the basis that our offer would be 195-200k. Got told by the vendor to do one. He clearly thinks he's accrued 20k of equity in this ghastly recession. We told the EA that would end our interest then.

The guy's had it on for 7 months, and started at £250!! (mental) and then £230 and so now, because he's done two price drops from crazy asking prices, he thinks £220 is fair.

This is the problem we have encountered. Vendors are still not getting it. They are blanking out what's happening and unfortunately, at the moment, there are still just enough morons kicking about to give some of them a surprise windfall.


I think you are being a little harsh on the vendor. Yes we know he is an idiot and quite deluded but put yourself on the other side of this business deal - unless you absolutely had to sell for whatever you could get then you would also want to hold out for every penny.

On our side, we know what could happen to future prices and could be in the same boat years down the line so want to pay the very least amount of pennies.

There are still lots of morons around, never ceases to amaze me how quickly overpriced places sell around here - there was one that needed gutting and was on for £300, it sold for £380 to a builder ffs. But the morons will run out eventually and then we get to see if they just add to the repo numbers or are another wave of deluded EA food.

#38 cartimandua51

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Posted 31 March 2012 - 10:52 AM

The thing is not to get cornered by one particular EA and their 'you must pay through the nose' guff.



Basically you need to get them all excited and bothered and competitive over a hot buyer. (This is an art. Their instinct is to just sit you in a corner and tell you you'll take what you're given. I discovered it quite by accident once, because I really was interested in one place and, being a genuine young blabbermouth I told every other agent I was seeing. They all went into hyper-drive. It almost ended in fist fights.)


From "The Secret Agents blog" (No, not the Phil Spencer one!)
‘You okay for a run of viewings later? We’re double booked.’ Asks assistant manager T popping his head round my office door and looking flustered. If you don’t do the viewings you won’t make the sale, so I urge my team to grab the punters and stick them in the car. All the while they’re with us they can’t be with the opposition. I do like them qualified first though. Are they motivated, can they afford it, are they in a position to proceed?

http://agentsdiary.blogspot.co.uk/



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#39 Bruce Banner

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Posted 31 March 2012 - 10:54 AM

I think you are being a little harsh on the vendor. Yes we know he is an idiot and quite deluded but put yourself on the other side of this business deal - unless you absolutely had to sell for whatever you could get then you would also want to hold out for every penny.


Holding out for every penny, in a falling market, is a mugs game.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#40 cartimandua51

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Posted 31 March 2012 - 10:56 AM

How does it cost £20000 to move?

I have:

£2250 stamp
£1000 legal
£1000 removal
£500 survey

- £1000 as I get my deposit back for here.


As a new buyer, you're right.The killer is that if you make a mistake and have to move, YOU are then the one paying 1.5 -2% Estate Agents fees as well as stamp duty on the next property!
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#41 cartimandua51

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Posted 31 March 2012 - 11:02 AM

In my limited experience it is the vendors that are the PITA, not the EAs.

EAs will usually drop the crap once they realise you're not a complete moron. At best I found them helpful, at worst just a waste of space. What you have to remember is that the way an EA makes a sale is by trying to align the expectations of the vendor and the buyer.. you want it at 50%.. the vendor is convinced it is worth asking price and not a penny less (usually because the EA told them it was worth Zoopla +15% in the first place to lock them into the contract.. but I digress). The EA only makes a sale if you both come to an agreement in the middle.



The better EAs certainly know the score. When I had a few valuations prior to putting my own house on the market there were a couple of right chancers who were trying to persuade me to list (with them, natch!) at about £40K over what I thought it's worth; one who gave me a reasonable range (house is the only one on the postcode so difficult to get comparitors) and the one I eventually went with who said " You can ask what you like. It's not me or you who decides what it's worth; it's the market." He gave me a figure at which he thought it would sell quickly, and ten days later I had two offers at asking price. So now fingers crossed for a quick completion (& finding a new place, or I'll be borrowing the neighbour's caravan!)

Edited by cartimandua51, 31 March 2012 - 11:03 AM.

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#42 libspero

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Posted 31 March 2012 - 11:27 AM

The better EAs certainly know the score. When I had a few valuations prior to putting my own house on the market there were a couple of right chancers who were trying to persuade me to list (with them, natch!) at about £40K over what I thought it's worth; one who gave me a reasonable range (house is the only one on the postcode so difficult to get comparitors) and the one I eventually went with who said " You can ask what you like. It's not me or you who decides what it's worth; it's the market." He gave me a figure at which he thought it would sell quickly, and ten days later I had two offers at asking price. So now fingers crossed for a quick completion (& finding a new place, or I'll be borrowing the neighbour's caravan!)


I think if I were an EA I would offer vendors three prices..

One price for a quick sale
One price for estimated market value
One price if they don't mind waiting and hoping for a lucky catch

That way it gives the seller a realistic choice and also puts in perspective the recommendations that other competing agents may make.

And I tell you we have learned from past mistakes.
Just as you cannot spend your way out of recession, you cannot, in a global economy, simply spend your way through recovery either.

(Gordon Brown, Labour Party Annual Conference, 29 September 1997)

So, housing affordability is better than it has ever been, but no-one can take advantage of this because they can't afford the houses. I see.
cybernoid - 7th August 2010

Gambling promises the poor what property promises the rich - something for nothing
George Bernard Shaw


#43 Democorruptcy

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Posted 31 March 2012 - 11:37 AM

where I live, South Manchester / Cheshire border just isn't doing what other places may be.

However, I need advice on how to deal with the verminous EAs. .


Son buying in Cheshire. Offer accepted a couple of weeks ago £10k below price. Daughter-in-law told me yesterday the agent phoned one day this week and said someone else had viewed it and matched their offer. "Do you want to offer more?" Son says no. Agent phones back the other party have offered more "Do you want to offer more?" Son says no, if you don't confirm by 5pm tonight we are the buyers we are pulling out. A couple of minutes to 5pm agent phones back "The vendor has decided to honour their agreement with you".

mmmmmm.....
Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and it's banks. The UK's Governbankment does policies to enrich bankers at the expense of the public. The more money people are encouraged to borrow, the more money bankers make.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR and interest rates swaps are now being paid by savers so that bankers can keep pocketing bonuses.

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people

#44 Bruce Banner

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Posted 31 March 2012 - 11:42 AM

Son buying in Cheshire. Offer accepted a couple of weeks ago £10k below price. Daughter-in-law told me yesterday the agent phoned one day this week and said someone else had viewed it and matched their offer. "Do you want to offer more?" Son says no. Agent phones back the other party have offered more "Do you want to offer more?" Son says no, if you don't confirm by 5pm tonight we are the buyers we are pulling out. A couple of minutes to 5pm agent phones back "The vendor has decided to honour their agreement with you".

mmmmmm.....


Your son could play hard ball here. Pull out and when the agent comes back with his tail between his legs, offer £5K less.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#45 Number79

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Posted 31 March 2012 - 12:17 PM

Holding out for every penny, in a falling market, is a mugs game.


I agree but it is obvious that the percentage of sellers who have smelled the coffee and visit this place rather than Mind Sucking Exuberance is pretty much zero.




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