reserves
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Posts posted by reserves
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An EA once told me that the seafront flats always start off nice the living room with great views but as you work your way further back they tend to disappoint which I have found to be true. I love the high ceilings and large rooms. Grade listed buildings can be tricky and you need planning permission for nearly everything. It would be interesting to see who bids on that and how quick they flip it on at 500K +.
I like the Avenues, everything is on your doorstep. It sounds like your girlfriend's mind is made up and if she is being helped with the deposit then I can understand and once someone has their heart set on something it's best to just sit back and let them get on with it. You can point out the pitfalls but to no avail and I should know, I've made many mistakes regarding property mostly out of ignorance.
The problem with flats is the maintenance. They need a paint job every five years. The last quote I had about 4 years ago just for scaffolding was over 5K. The finished job was over 35K. Then you get the dodgy lifts, problems with the roof, new leaseholders in the building always try it on with the maintenance and try to get a damp course etc etc care of the maintenance fund and not forgetting the 10% on top of any job (this is always in the contract the building has with whoever is the MA) that the MA or surveyor oversees. I hope the building in question has a large reserve fund built up because with these buildings it is needed be it Lewes Crescent or the Avenues. It helps if you have a share in the freehold company, you have more of a say in things but what the heck this is bringing back bad memories tell her to go for a house in Poet's Corner
Thanks for the advice, duly noted.
I went to the auction to see what was going on, very quiet room, about 30 people there.
Arundal went for £355k to some hysterical lady, I get the impression she would have never stopped bidding, she looked like she was crying the whole way through.
Out of 8 lots, 4 were removed, one garage sold around guide (somewhere miles away via telephone) 2 didn't reach reserve, including the Brunswick property which only had 2 bids (up to £175k) then stopped dead.
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Reserves, how did you get on or is that a secret until Thursday
Regarding the Arundal property, went to view it, was in a pretty bad state, no kitchen to speak of, but nothing too worrying really just needs complete refurb. However the main problem was the layout towards the back was tricky and it's Grade I listed, would work better as a large 2 bed, front room was fantastic with great views of the sea. Only 3 people viewed it when I was there, and about 9 the previous viewing according to the register.It was too much work for my Girlfriend & I who were considering looking for something to live in and work on at the same time. Went to look at the Brunswick auction flat too which had permission to convert to 2 bed, but the flat would have been way too small as 2 bed and not cheap anyway at £180-190k guide.
It looks like my she will continue with a 2 bed purchase in one of the Avenue's in Hove, she got 25-30k off the original asking price (£275k) and she's looking to exchange in the next month or so. She seems happy to take a drop over the next few years as she is looking longer term and is being helped with the deposit, an offer which might not be there forever.
Myself I would wait, but she's been looking for 6 months now and is tired of renting, I was hoping something would come up which would persuade her to consider the auction property but time is running out...
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Not a typical student area i think the vendor let it when he ran into £ difficulty.there were 2 male accountancy students and it is spotless.Very residential area we are very lucky.Beautiful house no downside at all
Congratulations whatnow?, sounds like you got a good one, enjoy it!
A lot of users here seem to overlook that people actually enjoy owning and living in their own home, it's not all about money (though it sounds like you did well there too!)
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It's been advertised with Parsons Sons & Basley, auction is 21st May unless sold prior at The Old Market, Upper Market St Hove.
I must admit it caught my attention especially with the garage. Memories of maintenance charges etc have held me in check. Remember to find out what share of the maintenance that flat would be responsible for and any future works in the pipeline.
Thank you tigsrenting, seems like there's alot of interest, going to have a look tomorrow.
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Anyone know which auction house this is up with?
http://www.findaproperty.com/displayprop.a...p;agentid=05160
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£300 for information that you can get free.
That's what I thought, however they seem to have details of a Brighton propertyI can't find at any auctioneers?
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brighton & hove prices up 0.1% in March (according to land reg)
Weird....
Slightly off topic but has anyone used "Choices" for getting details on auction properties? It's a service that costs £300 and I'm not sure if it's a scam or not...
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Talking with some temporarily unguarded EAs in Shoreham yesterday, asked if the spring bounce had started and should I buy now, answer "Naaaaaaa"
Nearly every property on the books had been reduced.
Many BTL properties coming to market as they can't remortgage.
The only thing I guess I can suggest for my friend is to gazunder.
What else can someone do who has to buy now and can't wait?
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Linda, where is your Hove flat if you don't mind me asking, I know someone in the market for one, be interesting to see how the sale goes.
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In six months time they will still be ringing round saying they will accept 220k and a year from now - 180K.
Maybe...
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My Propertybee search (small sample of 34+ houses) isn't turning up any significant drops - 5k here, 10k there. I think I should start looking at flats as well.
The drops I'm talking about were never 'advertised' it was more in a phone call from the agent "we've been notified by the vendor that they would accept £250k for such and such"
Therefore these wouldn't show on PropertyBee, same must go for houses.
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Rather cruel I know but...................................................
They do look happy there...
This thread seems a bit quiet these days, where's everyone ?
The only update I have is that my friend is currently buying a 2 bed flat in Hove (I know, I know, however she has a one time only offer of an interest free loan for half of the flat, but she has to take it now to get it).
She was looking up to £250k and found a flat that was originally advertised at £275k which they accepted her offer of £250k, around the same time she was called to say that 3 sellers with flats from £260 - £275k would all take £250k.
I'm obviously worried about her buying now but her circumstances are pretty unique and I've offered her all the advice I can.
The only way I can think of protecting her from the market is to buy at auction but there's no 2 bed flats coming up at the mo?
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WOW, are we talking about the one on the corner of Brunswick? Now are you sure before I break open the veuve rose?
Yep, walked passed it last night, it's gone for sure! Covered up well, all logo's gone, windows painted, one A4 sheet selotaped to the door with a contact phone number... bless.
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Mishon Mackay Western Road branch has.......
GONE!
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All teh houses in the area I have been looking have been at 275 -285 but have noticed today a new one has come on at 249!All the others have been on since last march when I was selling.Now they need to follow surely to sell?
Where you looking exactly?
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What about for first time buyers/buyers with nothing to sell?
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Still appears pretty bouyant...
Not when you compare the data with BN43, BN11, BN15, BN16.
Cview, are all your posts cryptic?
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Not worth watching.
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Fox and Sons results for Brighton
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Anyone get to the Fox and Sons Auction today?
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I am living in Brighton we sold our last place as we simply couldn't afford to keep it and had bought it simply to get my son into a decent school.Nightmare!We are renting now and need to buy soon as I have health issues and this rental is a rip off and freezing! I am wondering if xmas would be a good time for a cheeky offer.I have seen a maisonette but it is 275 but suits me in other ways because of the layout and my health.It isn't worth more than 220 imo but what would be a reasonable offer and how would |I go about negotiating this.
If you think it's only worth £220k then why not offer that? Sometimes Estate Agents get moody, but what do you care about that?
If the vendor thinks it's worth £275 he/she'll say no, but in the back of their mind they will be thinking about it...
If it was me, I would say "I really like the property but in my view it's way way overpriced, please keep my number on file and call me if the property falls way below the stamp duty threshold, good day"
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Thanks for the advice, I'm keeping an eye out too. I would be very surprised if one bed flats ever dropped under 100k, that's going back to about 2001.
Hope one day the place I pulled out of last minute in a Hove Mews (my dream place!) will go back down again, I pulled out at £172k, sold recently for over £400k!
Property price increases do not benefit anybody but the banks. How anyone living and working in Brighton/Hove can afford a place is beyond me, average wage of what £17k?
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Anyone taken a look at any of the Fox and Sons new Auction properties?
One Studio on there from last Auction which never sold, from my (limited) experience the prices used to go way over guide, but last auction quite a few were unsold and many went around guide.
I popped into their office to grab a list/catalogue and overheard a member of staff saying "I'm thinking we should drop the guide price to generate more interest." Sorry, didn't hear for which property.
I know it might be bad timing but I'm really keen to buy a One/Two bed flat to live in and renovate at the same time, as a hobby/project, anyone know of any good ones in Brighton/Hove?
Lived here for 9 years now on and off, seen the prices rise and rise! Already brought and sold one house (with friends so forced to sell), made a little bit so can't complain too much.
Brighton Area
in England - South East
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About 6-7 people bidding on Arundal, though she would have bidded forever it seems...
Certainly would have been nice to have a chat.
Girlfriend has now exhanged(!) on the Avenue property so I'm moving in with her and going to forget about property prices for a while.
So I may not be around here much, I found the whole property search/worry/stress with her very draining, I still hope prices keep dropping, but at the end of the day once you've bought (or your partner has) there's no point worrying so we're just going to enjoy it, even if it drops 50k it'll still be home.
Good luck everyone!