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miriama

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About miriama

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    HPC Newbie

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    London
  1. My email to agent: Hi ..., Thanks for showing us around on Saturday. I certainly didn`t mean to spring the facts on you so quickly! Given that I have learned that the house is prefabricated I will not be putting in an offer. I believe that the house may be difficult to mortgage anyway as it is of non - standard construction. Couple of points I would like to make. 1: The house is overpriced. I have actually checked the records and vendor bought the property in October 2001 for 70k. If you look at Nationwide charts the price they would come to is: "A property located in Greater London which was valued at £70000 in Q3 of 2001, would be worth approximately £109165 in Q4 of 2008. This is equivalent to a change of 55.95%." Of course this is just a generalization but to compare the prices they are asking with Richmond (much nicer area as you agreed) http://www.gpees.co.uk/property-details-rpsGPT-RIC070374 http://www.chancellors.co.uk/Search/Proper...mp;instrno=2535 http://www.housenetwork.co.uk/my_site.asp?...amp;house=1#top 2: I would suggest you might want to put the construction type into brochure, because there are only few mortgage companies willing to finance this kind of construction. Let me know what you think, Miriama
  2. Because EA assumed that I was making an informal offer during our talk, hence the phrase "he will need to have a word with vendor on Monday. Too cruel to let him down
  3. Thank you Alfie! I am by no means a timewaster. I have been really interested in seeing this house and possibly buying it. IF I knew beforehand the house is prefab I wuldn`t have bothered to view it. IF it had measurements not just a picture of floorplan, I would have know it`s way too small. IF the vendor wasn`t stuck in cuckooland... etc. For all of you who think I am about to spend the largest amount of money in my life and wouldn`t want to see several houses first (after weeding out unsuitable ones through internet) are very largely mistaken. Maybe the problem in UK is that people spend more time researching cameras / TV`s than their own house which is how they end up paying half a milion quid for something not even 70 sq m.
  4. Well, just found out they have paid £70k ! in October 2001.... Nationwide says: Results:- A property located in Greater London which was valued at £70000 in Q3 of 2001, would be worth approximately £109165 in Q4 of 2008. This is equivalent to a change of 55.95%. How they can justify asking price of over 440k is beyond me.
  5. you can only do that when bought before 2001 (sold prices). You may look before but it will only show how much mortgage they took on property (if any)
  6. A bit of realism check never hurt anyone. If they do accept (which I know they won`t - seller deluded), I can always say I acn`t get a mortgage on prefab...
  7. I was looking at one property in London. It`s a 3bed terrace house on the market for very ambitious £444k. Sold prices on the street: 2007: 325k 2004: 280k 2001: 150k I had already made up my mind before the viewing that all I would pay is £250k if I liked it enough... Came to viewing, agent quite nice (surprisingly), thought I would do him favour. Didn`t like the house, it was little pokey and way too small. Conversation goes like this: He explains all the features, shows us around, then asks me what do I think. I say "is it true prices are back to 2004 levels? He says "yes" I say "Did you know that house next door sold for 280k in that year? He says "no" I say: "no problem, I checked stats. Market is still falling by almost 2% a month, isn`t it? He says "yes", then explains that it`s been on the market last year with another agent for 500k and vendor had an offer at £440k, which he didn`t accept. Bet he is knocking his head against the wall" (agent words not mine) Then he asks to go back to his office as he is not comfortable talking about it in the owner`s house. WE get back and he says he was suggesting to owner the price is a little ambitious and virtually begged me to give him Monday to speak to owner before I put an offer in. He also revealed that the house is prefabricated!!! Then few more questions and he was lost for words, literally. Anyway I have no intention buying this property but will be putting in an offer anyway. The house was bought before 2001, so the price was likely to be less than £150k. How much should the offer be? I am thinking £200k.
  8. Two bedder - bedroom + bedroom for baby
  9. Hi all, thanks for all the answers. Wow, I didn`t expect this many complaints over my choice of living.What I wanted was an advice on money side of things. Firstly I wanted to offer £250k BEFORE I have checked the sold prices. I am not mug to pay more than the price in 2004. Secondly, I have no idea what you have against Wapping. I find it quite quiet and it has docks / park / tennis court while being ten minutes from the office. Thirdly, four bedrooms (or what qualifies as this) is not going to go far. I never said I want one child, I might want three! Lastly, I haven`t even thought about LL not allowing children in property. Our decision was made upon the fact that we are sick and tired of moving every year. You can do that when you are couple, but wih the little one, no thanks. PS: I don`t need a car, I used to be a nanny (in London),didn`t drive (and still don`t) and still managed ok.
  10. To Martin: Thank you Martin, the only sensible answer here so far...
  11. Hi all, I know that prices are falling and economy is in bad shape, but myself and my partner are planning to have a baby in the near future and would like your honest advice. Just to give you background. We have been renting for about 8 years, are both debt free, have 20% deposit (although haven`t applied for a mortgage yet) and our combined income is c 125k. The rent for 2 bed places around London is roughly £1250pm. I have just seen this place: http://www.rightmove.co.uk/property-for-sa...y-20367799.html which I really love, it seems to be just where I would love to live (and area is fantastic). I thought about offering £250k, which would mean mortgage of £200k (costing less than renting) Then I checked sold prices and the only time property was sold was in June 2004 for 197k. Since then in been apparently refurbished and so on. How much should I offer? Thanks, Miriama
  12. Hi all, I know that prices are falling and economy is in bad shape, but myself and my partner are planning to have a baby in the near future (would like to buy a flat too). Just to give you background. We have been renting for about 8 years, are both debt free, have 20% deposit (although haven`t applied for a mortgage yet) and our combined income is c 125k. The rent for 2 bed places around London is roughly £1250pm. I have just seen this place: http://www.rightmove.co.uk/property-for-sa...y-20367799.html which I really love, it seems to be just where I would love to live (and area is fantastic). I thought about offering £250k, which would mean mortgage of £200k (costing less than renting) Then I checked sold prices and the only time property was sold was in June 2004 for 197k. Since then in been apparently refurbished and so on. How much should I offer? Thanks, Miriama
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