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Marshalltown 19-11

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About Marshalltown 19-11

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  1. Unfortunately you don't offer much information. Basically its a house somewhere in Newcastle. Some basic principals of valuation: size, type, location, condition. So no opinion can be given on value. However on the market 8 weeks, is that a short or long period? Generally speaking no. But where is the property? Some places properties don't sell for months even years.The change in asking prices sound like the seller just desperately tweeking to create some market interest but not doing anything positive. The text in bold. You seem to state the property hasn't been refurbished to a high standard then you contradict yourself. As I have no idea if your opening offer of £100,000 was reasonable it must have been to you? Then go back to the agent, offer £100,000 again with the caveat if its not accepted within 7 days, including the property taken off the market, then its withdrawn and your gone. As soon as you hang up start looking elsewhere. If on day 8, or later, the agent comes back saying the offer is accepted reduce it to £97,500 and tell them in no uncertain terms your sick to death of being messed about by them, the seller and having incurred: legal, financial, surveyors fees and time wasted reading posts on HPC.
  2. From the link: We are acting for the mortgagees and have received an offer of £105,000 on the above property. Maybe somebody got a good deal?
  3. "A little bit of knowledge is a dangerous thing." I have scan read some parts of the survey section and conclude that it has been written with someone who has a little knowledge, makes limitless assumptions and therefore poses a major threat to any prospective purchaser. Types of Survey There are three types of survey: • The Valuation • The Homebuyers • The Structural First major giveaway. There are not three types of survey undertaken on residential properties. There are only two, which are the RICS Homebuyers report and Building Survey (formerly called a Structural Survey). If you instructed an Engineer/Surveyor to undertake a Structural Survey then they may just do that and concentrate solely on the structure itself i.e. roof timbers, main supporting walls and foundations. Therefore defective roof coverings, dampness, windows, doors etc. may be ignored unless they are significantly impacting on the structural elements. A Mortgage Valuation report requires a brief inspection of a property to be undertaken, and most certainly NOT a survey. This inspection is undertaken in accordance with the Lenders Valuation Guidelines and RICS Valuation and Appraisal manual. These are confidential and not disclosed to the buyer. So, if you buy a property and rely on a Mortgage Valuation report then there is a high level of risk as you have no idea as to what the Surveyor has been instructed to do, are unaware of the criteria and, in any event, the report is for the Lenders benefit not the buyers. Almost all Estate Agents and Mortgage Brokers in the Residential Property market refer to the Mortgage Valuation as a Survey. Why? Ignorance? Lack of knowledge? Ask them. But they all have a vested intersted in a buyer purchasing the property. Draw your own conclusions. [If you really like a property and it is subsiding, buy it! The subsidence will be rectified under insurance and you will have an underpinned property which adds value when selling on. Totally incorrect. Buy a property that already has subsidence and it will not be covered under the purchasers Buildings Insurance policy as its pre-inception damage i.e. the problem existed prior to the Policy being taken out. The buyer will be left with the subsidence problem and will have to rectify it at their own expense. This could amount to a few months of monitoring, to assess if the movement is progressive, and some minor repairs should the property stabilise. If the movement is progressive then other remedial works could be required and in worst case scenarios, underpinning or piling. It is possible to buy a property where subsidence has been diagnosed AND the vendor has already claimed under their Buildings Insurance policy, as the buyer can purchase the property and have the vendors Buildings Insurance policy transferred into their name. But that was not stated.
  4. http://www.pattinson.co.uk/Public/content/Buy/Estate-Agents/Property-For-Sale/83955.htm http://www.thinkproperty.com/property/14539910 Don't know if the links will work. In summary you can buy a ground floor 2 bed apartment in this development for £114,995 from Keith Pattinson or rent a third floor fully furnished 2 bed apartment for £650 PCM through Suzzanne Graham. Its a tricky one given the location............ MT 19-11
  5. Perhaps a critical element has been overlooked here. Aye, the development is close to the Teams Club. But going from memory isn't the "Kingdom Hall of Jehovah Witnesses" nearby as well. Maybe that's the deal clincher. Or watching the traffic back up on the A184 when the Redheugh Bridge is closed for high winds etc. MT 19-11
  6. Have you ever been to Brampton? Does the population extend to a man and a dog being in the same place at the same time? Brampton only gets busy when Geordies stop off for a pee on their way to Blackpool. MT 19-11
  7. Basically the Estate Agent acts in the best interests of their client the seller. Therefore if your buying there mission is to obtain money from you. Some agents act ethically some dont. At this stage its all a game. I would turn things around and tell the Agent that if the purchaser does not accept your offer within 2 days you will look elsewhere as its a buyers market. If they accept after 2 days then I would drop the offering price further for the inconvenience suffered. MT 19-11
  8. New series of Property Ladder? Mmmmmmmmmmmm........ I quite like it but its very "samey"....... Punters buy property ignore Beeney advice etc...... But its quite simple. IF they cant SELL the property they LIVE in it. Therefore MARKET NEGATIVITY is by-passed. Personally I think that if the property is not BOUGHT AND SOLD then the programme is pointless. Obviously TV producers are only interested in viewing figures = adverts = revenue. IMO Property Ladder never has, nor ever will, reflect anything relevant to property markets. MT 19-11
  9. Hi Colin So how many did you buy up? None? Ohhh.. forgot because included in the purchase price you had to agree to spend circa £20,000+ to refurbish them. Anyway. Name the Metro Station? If not the West End of Newcastle I am totally intrigued. Back on topic. SUTTON?????? Bide yer time in late 2008 then.........fill yer boots. You could do well. 30% plus falls. MT 19-11
  10. Sorry.............. But back on topic. Did you put an offer in or not? Many negatives but seems a GREAT buying opportunity giving the market etc. MT 19-11
  11. Could be some good deals there? Well maybe. Tell the developers to give me a shout when the "Market Value" of any property is 10 x the proven annual rental income. MT19-11
  12. House prices going down = Buy Land!!!!!!!!!!!! House prices go up = Sell Land!!!!! Pleazzze tell me I am wrong MT 19-11
  13. No doubt professional people taking these positions are well qualified etc. BUT £100,000. No doubt a nice pension included........ I thought only City high fliers were on this sort of money. MT 19-11
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